[Marketing Week] Bob Koigi: The implications of tightening ad budgets to the industry
Close to 30% of major advertisers say they’re cutting their ad budgets into next year with 74% said the economic downturn is influencing their 2023 budget decisions. In a survey conducted by World Federation of Advertisers, WFA, targeting 43 multinational companies.
Many industries have diverted funds away from traditional advertising channels and toward direct-to-consumer marketing, where they can avoid dealing with ad exchanges and attempt to maintain loyalty through a potential consumer spending downturn.
This comes as brands focus on the most innovative and cost-effective alternatives.
DoubleVerify, DV, a software platform for digital media measurement, data and analytics, has announced the launch of the new DV Attention Lab™ to help advertisers optimize campaign performance using in-depth “attention data” on ad engagement and ad exposure.
This, while Yahoo announced an expansion of its partnership with DIRECTV Advertising to include set-top box (STB) data, backed by market-leading privacy protection protocols.
With the expanded partnership, Yahoo’s demand-side platform (DSP) customers can now activate TV usage data from millions of DIRECTV households to optimize planning, activation and measurement of digital campaigns across DIRECTV and non-DIRECTV inventory.
At the same time Triton Digital, the global technology and services provider to the digital audio, podcast, and broadcast radio industries, has announced a new version of its advertising platform, Tap.
The enhanced version, now available to all clients, provides a more fluid experience throughout the entire lifecycle of audio ad campaigns – from planning to billing – simplifying publisher workflows and enabling increased revenue opportunities and a better listener experience.
And Measured has launched new tools and features to help marketers maximise advertising ROI and find new ways to grow. The latest product launch also marks Measured’s official arrival in the UK market to revolutionise how British retailers measure – and spend - their media budgets. Measured is the only media optimisation platform that reveals the true incremental contribution of advertising spend to business results.
In collaborations, Hivestack, the global independent, programmatic digital out of home (DOOH) ad tech company has announced a key partnership with Clear Channel Spain, a leading Out of Home (OOH) media and infrastructure company in Europe.
This partnership will offer Clear Channel’s premium DOOH inventory to brands, agencies and omnichannel demand side platforms (DSP) via private marketplace (PMP) deals, available through the Clear Channel LaunchPAD platform.
Nextdoor, the neighborhood network, and Oracle Advertising, a player in real-time attention analytics, has announced a strategic collaboration that will offer greater transparency and controls to Nextdoor advertisers, helping ensure high-value, optimal ad experiences on the platform. Development is expected to begin in 2023.
Xandr, a part of Microsoft Advertising, powering a global marketplace for premium advertising, has announced its collaboration with IMPACT+, to bring green house gas emissions measurement to its Invest DSP customers. The alliance will bring a measurement solution from IMPACT+ into Xandr’s Invest DSP.
Elsewhere, Integral Ad Science, a global player in digital media quality, has announced it has been selected by Netflix as a partner to provide transparency into advertising performance on the upcoming Netflix ad supported tier.
WPP has announced the opening of its new Toronto Campus, a creative hub bringing together 2,000 people across multiple WPP agencies.
The Campus opening marks an important milestone in WPP’s vision of making Toronto one of its leading creative centres of excellence in North America.
And finally, Burger King® has unveiled its new brand positioning and campaign, kicking off with its modernized tagline, “You Rule.”
“You Rule” is a key part of the new Burger King brand positioning, and will impact every Guest touchpoint from traditional advertising to the in-restaurant experience. This campaign is the emotional articulation of “Have It Your Way” – “You Rule” is about celebrating everyday royalty, and puts the Guest at the forefront of everything the brand does.
Bob Koigi is an editor at Marketing Report EU
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