The summer is already in full swing, which means that the first half of 2022 is behind us. For marketers, it’s time to look at the trends and fine-tune our strategy accordingly. As much as the advertising industry is still recovering from the pandemic apocalypse, the H1 2022 results from market surveys clearly show signs of revival and some cautious optimism.
Intrigued? A recent survey of 600+ advertising professionals and a compilation of data on H1 2022 outline the important trends in media and marketing that we should keep an eye on. Check out our curated selection of highlights and use the current snapshot as guidelines for your strategy:
- Marketing budgets on the rise. According to Gartner, 9.5% of average total company revenue is allotted for marketing, up from 6.4% in 2021. 70% of CMOs report budget increases in the past year, with 56% of budgets spent in online areas. Financial services companies recorded the highest budget, at 10.4% of company revenue, up from 7.4% in 2021.
- Continued investment in digital channels. Other key findings show that 70% of advertisers are increasing budgets for digital display and video. $534B are media owners’ expected revenues from digital formats (search, social, video, banners, digital audio), with $68B being media owners’ expected revenues from digital video, up 16% from the year prior.
- A cookieless future with first-party data. When asked about their largest area of concern with regard to media and marketing, 24% cited a “decline in ability to measure effectiveness on tech platforms and open web” as their biggest fear, while 16% cited “lack of preparedness for a cookieless future.” In the face of a cookieless future looming, 35% of consumers are prioritizing first-party data, according to Merkle. Media enriched by it is getting more and more important. According to market research agency Advertiser Perceptions, first-party data is particularly good for upper-funnel or brand advertising, where the focus is context and audience rather than clicks.
- Entertaining the post-pandemic consumer. According to Oracle data, 45% of consumers have not felt true happiness in more than 2 years. After the hardly bearable pandemic reality, which is not over yet, it seems some entertaining content is definitely in order. According to the same source, 90% of consumers are more likely to remember an ad if it is funny. Another recent survey revealed that according to 70% of consumers, it’s important for brands to provide them with a personalized experience — up from 67% in 2019. Brands making committed efforts to provide more relevant and personal online shopping experiences will be strongly rewarded by consumers. In fact, 72% of people say they are more likely to purchase from a brand if it can consistently provide them with a more personalized experience.
- Hello, metaverse and gaming. According to Insider Intelligence and Gartner surveys, 60% of adults don’t understand the purpose of the metaverse. 18% of consumers are excited about it, while 21% are concerned about the impact it might have. Closely connected to the metaverse, gaming has become a key pillar of modern online culture, with gaming creators now more influential than ever. According to a recent report that Twitter published on its blog, gamers sent a total of 1.5 billion tweets about games in 6 months – a record half following up on a record year for gaming conversation in 2021; Twitter drew attention to an increase of 36% yearly. NewZoo research shows that 9% of people who use the internet connect with games in some way and 52% of Generation Alpha gamers spend money on games.
In view of the above, as marketers focus on retaining existing customers, digital advertising and reaching the post-pandemic consumer using first-party data will take even greater precedence. Novelty Media, via SmartAdd, is a mobile media channel delivering entertaining, educational, social and fun content and ads personalized to a targeted audience of mobile subscribers. We are fully equipped for the cookieless future utilizing 100% verifiable first-party data obtained solely on an opt-in basis, strictly following the privacy regulations and fully endorsed by Mobile Operators. Keep following our Marketing Bites to learn more about our innovative solution.