As digital marketers approached the end of 2022, many thought the events seemed like they were straight out of a science fiction script. All of us who live and breathe media and advertising were feeling like things were so unstable and insecure that we were certainly ready for a positive change. During October, there was a bit of a “free fall” within the segment of companies that provide ad support for entities such as Meta, Snap, and Google, making for a sense of general nervousness.
It was less than 30 years ago when the first banner ad made its appearance, with search ads being even younger. The wildly popular TikTok platform has only been around for 6 years, signifying that we are still experiencing the early chapters of digital media’s existence. The experts on duty at Entrepreneur cranked out an informative blog last week outlining some of the elements sure to be trending this year that will see tensions easing up a bit. Following is a short list of some of the events that will help us here at FarFetched Studios lead the way into a time that allows for more post-pandemic breathing room.
Powerful and Very Transformative Privacy Needs:
Many agencies nationwide have spent so much valuable time collecting data, targeting CTAs, and navigating through the sometimes difficult waters of PPC advertising. With contextual advertising emerging as a more practical means of doing this, users will enjoy the freedom of feeling “a bit less creeped out.” Some of yesterday’s data mining efforts are not going to align well with the platforms and environment of the future, as moving away from cookies will exist as a very positive change.
Implementing Technology for More Useful Context:
Contextual technology is now existing as much more reasonable and accessible than it was during the early days of social media. There are existing means of providing insight that could provide amazing updates in strategy and well-honed creative services. It is crucially important to think like a user instead of an owner, and many of your everyday stories can be repurposed to shed light on incredibly positive messages. One of our personal favorites is determining the frequency of your content outreach, and then moving forward to establish how focused or general your content needs to be.
The Mountain-Movers Guide to Metrics:
We can still vividly remember the ads that were so very good at appealing to us when they first hit the airwaves or the web. Many valuable elements have become lost in a sea of “creative clutter”, with many users skipping valuable parts of the entire process. The amount of competition that now flourishes in the ad space means that an understanding of the consumer’s pain points is essential. Customer Acquisition Cost is one of the tactics that allow for an accurate measurement of how much it costs to acquire a legitimate and long-lasting customer. Customer Lifetime Value can measure how loyal the customer is during their span of interactions that categorize their value.
The Cult Following Within the Game Controller:
Every successful brand marketer knows that gaming is a lucrative business! They now effectively appeal to all age groups, and in-game ads are an area that remains relatively untapped. There are more than 3 billion avid gamers waiting for your hard or soft pitch, and many of them spend longer than 7 hours at a time on their craft! This proves to be an audience so engaged that the stage is ripley set for massive growth. In-game advertising is currently set to grow at a rate of about 11% a year, and will reach a staggering 18 billion users by 2030.
Opportunities During Lean Times:
Inflation is a very real occurrence, and it is admittedly hard to spin in a positive sense. Even though there are cuts in many sectors of the tech and finance industries right now, digital advertising remains the most cost-effective way to generate a following. It is not an area of spend that is a bit of an option to contemplate, but critical to use as the scramble for healthy profit continues. Even larger entities that may be your competitors are cutting back right now, and this could be a perfect opportunity to jump ahead of the rest.
We know here at FarFetched Studios that there has been a bit of an air of doom and gloom regarding, well, just about everything this first quarter! During uncertain times, it is always best to hedge your trust with seasoned experts. This could be an absolute opportune moment to make progress with your brand, develop a loyal following, and let the sky remain the limit during turbulent times.