Whilst brands may not be at the centre of the dramatic infrastructural shifts the industry is undergoing, they have by no means been immune from them. With consumers more conscious than ever before of their right to privacy, vigilance surrounding brand safety and suitability has become vital for companies, who want to keep their customers' confidence. Couple that with the need for sensitivity during a period of unprecedented crises and social upheaval and it becomes clear that 2020 was, if nothing else, a long-haul balancing act for brands.
Yet, many business adapted to the challenging circumstances of the last year; integral to this was their grasp of where to direct spend in order to achieve the highest returns. In the latest article in our 2021 prediction series, industry figures tell us what they foresee for brand advertising and ad spend in the coming year.
Exciting opportunities are present, but brands must be willing to take them
This presents exciting opportunities for brands looking for alternative advertising channels to provide a much needed boost after the outbreak.
Simon Kvist Gaulshøj, CEO, Adnami
Customer interaction and exploration of new channels will be integral to success
It is also important to consider new formats that are in line with customer trends, such as video content. E-Marketer research, for example, shows there is an expected growth of 11% in UK CTV users. This may not sound like a lot but accounts for 40.9 million users - which is 60.9% of the population. Indicating that huge audiences are not being reached by businesses. Which in turn will support consistent growth to reach a predicted 44.4 million users by 2024, a rate covering two-thirds of the UK population.
Marc Ó Fathaigh, country manager (UK), Criteo
Shoppable video will be a market leader
However, to keep pace with the fast-evolving format and stay relevant, companies must offer brands more than basic interactive capabilities – they must provide direct-to-cart integrations and real-time analytics, both of which should now be a staple of shoppable video. Those players that can offer brands and consumers an immediate route from interest to purchase – without redirection to secondary sites – and in-the-moment audience insights will be the ones to come out on top next year.
Rayhan Perera, CEO and founder, OneDash
A rise in influencer marketing in on the way, meaning management will have to adapt
With the launch of the TikTok Creator Marketplace, brands will be able to tap into TikTok’s exclusive first-party insights to choose the most suitable influencers to partner with. Next year will see advertisers supercharge their influencer marketing strategies and turn to platforms like Impact’s to effectively manage those partnerships to accelerate business growth.
Owen Hancock, marketing director, Impact EMEA
Brands will continue to streamline spend, and must remain vigilant on fraud
In reality, issues with ad fraud and bot activity are skewing the alleged value of online traffic; research has revealed fake users and bots remain the most prevalent form of fraud in EMEA (47%), the US (68.7%), and China (65.6%). Going forward, brands will be extra vigilant with how they spend their budgets and make smarter choices in advertising partners, to ensure digital campaigns are brand-safe, fraud-free, and delivering maximum impact to their ad revenues.
Nickolas Rekeda, CMO, MGID