Media experts cite eroding consumer trust as top concern for advertising on social media platforms in 2023, report
Integral Ad Science, IAS, a global player in digital media quality, has released its 2023 Industry Pulse Report that found media experts called out declining consumer trust as a top concern with advertising on social media platforms.
Despite that caution, the compelling reach and engagement of social media means the vast majority of media experts still plan to advertise on those same platforms next year.
Khurrum Malik, Chief Marketing Officer, IAS: “IAS research found 77% of media experts agree that eroding consumer trust in major social media platforms may negatively impact their media spend. At the same time, marketers can’t turn away from the allure of reach and engagement that social media can provide. This love / worry relationship highlights the need for increased transparency for social media advertisers.”
Challenges for social platforms
While more than nine-in-ten respondents (91%) plan to advertise on social platforms in 2023, the study shows a decrease in monetization intent across platforms, except for a slight increase for WhatsApp (2% year-over-year).
Two-thirds agree that insufficient transparency will negatively impact their media spend.
Digital audio and video game advertising will continue to disrupt the digital media landscape in 2023
Topping the priorities for 2023, a majority of media experts (70%) agree that audio listeners will continue to migrate to digital formats.
Industry experts foresee risks to media quality – a majority (66%) of respondents are concerned about ad fraud and brand risk in digital audio (55%).
Publishers are bullish about video game advertising, with more than one-third (34%) recognizing the potential for opportunities in the year ahead. Nearly one-in-five (19%) media experts are planning to prioritize advertising in video game environments next year.
Additional key takeaways include:
Growing demand for CTV: Almost half of media experts (44%) agree that CTV and digital video hold the most potential for innovation in the coming year.
Contextual targeting as a solution for privacy concerns: Nearly 6 out of 10 respondents (58%) will prioritize contextual targeting to combat consumer privacy issues and cookie deprecation while still targeting desired audiences at scale.
Mobile prioritization continues: Mobile remains a key priority for nearly half of media experts (47%), which is understandable considering consumers will continue spending more than 4.5 hours daily on their mobile devices.
The IAS Industry Pulse Report provides key trends and emerging technologies expected to shape the advertising industry next year. In partnership with YouGov, IAS surveyed over 350 digital media experts including digital advertising professionals representing brands, agencies, and publishers, as well as ad tech vendors.
The full report can be accessed here
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