Paid Media has become one of the most important marketing aspects to reach the right audience at the right time with the right content. As everyone wants the best ROI from their ad spend, optimisation tools will only get more and more advanced.
With paid media offering instant traffic and results compared to other forms of digital and traditional marketing, digital advertising is becoming essential for every business. Whether you’re selling a physical product, digital product, or offering services, paid media can benefit every business if used correctly.
Read on to find out what exactly is in store for the paid media industry heading into 2022 and the future of digital media planning and buying:
Move Towards Effectiveness in Planning Models
Many advertisers who have relied on short-term efficiency will shift to long-term effectiveness due to changes in the Search and Display Models across ad serving platforms. Customers’ LTV is now at the forefront of advertisers’ minds and the focus of their paid campaigns. Algorithms are, therefore, trained to understand what form of conversion results in customer retention.
With the increasing integration of CRM and ad serving platforms, you can directly measure the accuracy of performance plans by running campaigns against their estimated benchmarks while ML fine-tunes your forecasts. In addition, enhanced tool capabilities like Performance Planner in the Google Ads suite will aid planners in this holistic view.
Coming Soon ‘Cookieless’ Existence
The online advertising industry is in flux as Google’s future intentions to eliminate third-party cookies. As more consumers shop online and use social media across numerous platforms, third-party cookies have become an important aspect of many advertising efforts. Focus now is on generating and storing a qualitative first-party database. Additionally, organisations will rely on comprehensive data orchestration platforms that bring all technologies together so the ads team can get what they need.
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To extract, share, and act on the insights collected via first-party data, you need to have the integrations like CRM, Google Analytics, and Data Management Platform (DMP) in place between various systems. First-party data can triangulate intent by improving Google Ads campaigns. This, in turn, makes it much easier to move these prospects through the funnel time ads, content, and nurture campaigns.
The Rise of AI and ML
Artificial intelligence depicts the future of all complex decision-making and acts as the foundation for all computer learning. It is proving to be a great marketing tool, and many media outlets have begun to embrace it. A recent report found that 83% of IT leaders say that artificial intelligence and machine learning transform customer engagement, and 69% say it is transforming their business.
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Machine learning tactics like Google Smart Bidding to automate bid strategies, lower advertising costs, and reduce manual input will be the frontrunners. They continuously learn and adapt campaigns as per goal completion percentage. AI can also be used to effectively target consumers, forecast CTR and conversions, and drive creative decisions for campaigns. As a result, marketers will move from reactive to proactive in their approach to smartly generate more qualified leads.
Gaming Platforms will Reign Display & Discovery
Gaming has quickly established itself as an important part of the entertainment sector, with gaming leading the way in terms of revenue. Hence, gaming platforms will have exploded in popularity as advertising platforms in the future too. Factually, research shows that video game advertising has risen by 17% in 2021, while ad spend for console, streaming, and distribution is up 36%.
Banners, advergaming, and audio advertising are all great options. Businesses can invest in ownership rights for advertising pursuits, fund branded elements, opt for product placements, or create completely branded games. Video will be a key format for in-game advertising. Brands can also add IGA content like pre-roll and rewarded videos, along with KPIs to calculate reach and completion rates.
Digital Eyes Everywhere
The CTV and OTT markets are expanding, presenting advertisers with new revenue opportunities in the visual realm. Capitalising on customer attention on such platforms with personalised experiences will hit home. Through CTV advertising, advertisers can engage with consumers in a linear TV-like environment, encouraging co-viewing and one-to-many relationships. They can also showcase products in targeted geographic areas.OTT and CTV can be used interchangeably while buying ad placements.
Based on business goals, you need to know how a channel will push your campaign in the right direction of achieving your desired KPIs. OTT’s have the ability to deliver incremental reach. Companies attain advertising benefits of using both the visual, highly engaging traditional TV ad breaks and the data-oriented selection of the digital world.
Using paid media strategy gives businesses the ability to leverage unique targeting capabilities to reach and engage a vast audience. By leveraging the above trends in your paid social campaigns, you can move one step ahead of your competitors. Begin by building a concrete strategy and clearly defining your KPIs. Then, experiment with diverse social media platforms to find the ones that work best for your business and get innovative while showcasing your brand.
By reaching your target audience on the paid social media platforms where they spend most of their time online, you can generate brand awareness where they are the most receptive, and consequently, bring in more sales to drive revenue. To ignore paid media is to sacrifice a competitive edge and neglect a key component of your digital marketing strategy. Digital marketers must experiment and often iterate to stay relevant in today’s highly competitive social advertising landscape.