Four trends that broadcast opportunity for your advertisers
Digital advertising is in a season of change for broadcast and media companies. Its transformation has been ongoing, but the last 18 months accelerated it like nothing before. The biggest lesson learned is that digital marketing and having agile and flexible omnichannel options are critical to connecting to the right audiences. While consumer buying behavior is a trend marker, there are other areas of digital marketing that you’ll need to be aware of so you can proactively address advertiser concerns and help them broaden their reach.
What digital marketing trends matter right now for broadcast sales?
To distill digital marketing into bite-size pieces is a good approach. With so many constantly evolving factors impacting what happens next, it’s easy to get overwhelmed by all the tips, tricks, strategies and challenges.
However, as experts in the field of digital advertising for broadcasters, we’ve determined four key areas that deserve your attention.
Third-party cookies are crumbling, but new ways to track could mean greater engagement
Cookies are critical to attribution in digital advertising. While they are simple snippets of code, they provide a wealth of information that supports targeting and personalization. The kings of the market, including Google and Apple, are eliminating them due to data privacy concerns.
This move is not without disruption and concern. However, instead of fearing this change, you can look at it as an opportunity. There are new ways to track audiences that require them to opt in, which could mean higher engagement and more precise targeting for an advertiser’s audience.
Data privacy concerns led to new regulations
Besides the third-party cookie dilemma, data privacy is a hot topic for every company collecting and analyzing data. GDPR created the first wave, covering all European Union (EU) residents and providing them a voice and rights about how companies can use data collected about them.
The U.S. doesn’t currently have a federal law with the same implications. However, California enacted the California Consumer Privacy Act (CCPA), which has similar provisions. These regulations can be complex, and you’ll need to ensure that your digital advertising platform adheres to them to protect yourself and your advertisers.
Podcasting and streaming deliver new opportunities to reach engaged audiences
There are currently millions of podcasts available for on-demand listening, and people are doing just that. Whether it’s true crime, relationship-focused or industry-specific thought leadership, the field is prime for new digital advertising techniques.
One of the leading reasons this channel is an ideal match for advertisers is that podcast hosts and guests are often highly regarded in their field. If your advertising clients have products or services aligned with these topics and influencers, you’ll likely see better engagement and higher ROAS (return on ad spend).
The medium isn’t challenge-free, with attribution being the weak link. However, there are ways for you to compensate for these weaknesses and provide better results.
Video ads experience continued growth with a streaming-hungry public
Video subscriptions received a major bump in 2020. This trend isn’t slowing down, with predictions that over-the-top (OTT) subscriptions will continue to grow significantly. This falls in line with consumer behaviors and their desire to go the non-traditional route for entertainment. After all, Netflix is part of the global vernacular now, and many others are gaining viewers with original content and exclusive debuts, like HBO Max.
Video ads are engaging, tell a story and provide a connection in ways that other digital advertising cannot. Broadcast and media companies need to leverage this to expand reach and to deliver more conversions for your advertisers.
Take a deep dive into digital marketing trends
These four trends discussed above are only the beginning of your journey to moving forward with digital. In our e-book, Digital Marketing Demystified: 4 Trends Advertisers Can Take Control of Now, we go in-depth on these topics with data, ideas, strategies and more. Download your copy today from Marketron.