Three key areas for digital advertising strategy 2022: Survey
The digital advertising industry is expected to be a bright spot in 2021 but seismic changes are looming, US industry leaders say in a survey adding that the industry is not moving fast enough to meet consumers where they are, in the way they want, with advertising embedded in an authentic consumer-connection strategy.
Advertising organization IAB and consultancy PwC made interviews with approximately 20 thought leaders in digital advertising. The leaders argued for a focus on around three key areas important for 2022 strategies – changing consumer expectations, regulatory reforms and present talent crisis:
- Waning consumer tolerance for (and expectations of) digital advertising is impacting the audiences of ad-supported media and entertainment brands. New ad formats/resources/partnerships are needed.
- Prepare for regulatory changes in privacy policies and additional actions by walled gardens.
- The steep competition to attract and grow talent must also be balanced by the need to foster new or elevated corporate DEI (diversity, equity and diversion) policies.
”As businesses, venues and schools closed due to the COVID-19 pandemic, consumers’ digital lives accelerated. At-home entertainment and media options have been growing at unprecedented rates. In 2020, US internet advertising improved by 12.2%, reaching $139.8 billion in revenues. Looking ahead, continued growth is forecasted in the US digital advertising market, with over $200 billion in revenue estimated by 2025.”
”The consumer migration to ad-free and ad-light media platforms and content is a result of the unprecedented innovation and consumer choices in tech, telecommunications, media and entertainment.”
”Advertisers now find themselves at a crossroads: Continue down the path where legacy models deliver expected ad content and loads, or pave a trail of innovation toward personalized content delivered on the consumer’s terms. Context and challenge The elimination of third-party cookies (though delayed until mid-2023) and mobile identifier changes are creating a tectonic shift for many industry players who must reimagine strategic planning and budgeting for future brand growth. The consumer value exchange in light of the impending changes has never been more important.”
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