Greetings!
Welcome to the December issue of Key Notes - Marketing Keys' monthly newsletter! We hope you are gearing up for the beautiful holiday season! Key Notes is an informative, quick-read newsletter to get you caught up on all things media and marketing. Our goal is for you to be informed and entertained with the latest media and marketing happenings quickly and efficiently.
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2023 Forecast: Steady Sunshine |
With an unstable economy, what is the forecast for the advertising market in 2023? Believe it or not, it looks fairly promising despite the inflationary prices we are all seeing at the grocery story and at the gas pump. According to the latest media forecast from BIA Advisory Services, advertising revenue across local U.S. media will decline by 0.5% in 2023. Coming off of a political election year where billions of dollars were spent, this is very promising. The upcoming year, which spans 16 media and 96 sub-verticals, calls for $165.7 billion in total revenue.
The projection for 2023 reflects the economic and supply chain concerns. However, the forecast is more positive starting mid-year. The 2023 forecast shows digital continuing to gain on traditional media, growing to $81 billion, for a 49% share of overall spend, to traditional media’s 51% or $84 billion.
TV digital and over-the-top (OTT) are forecast to grow 17.3% and 12.3% respectively in 2023. Local radio is forecast to drop by 3.6%, to $13.5 billion, from $14 billion in 2022. However, direct mail’s growth has been slowing substantially due to rising costs and growth in digital advertising channels. Direct mail growth for 2023 is pegged at just 1.5%.
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Is this the fastest growing strategy? |
What is the fastest growing media strategy? If you say programmatic video, you are definitely on the right track.
Interactive video ads are a necessity. So much that by next year, programmatic video is expected to surge to $74.88 billion, surpassing linear TV ad spending. People crave instant gratification from digital content environments that offer engagement. Therefore, digital video creative should highlight amazing video assets, introduce animation, invite and reward engagement, and most importantly, it should be interactive.
You can use that same video asset as a variety of digital video ad executions. On top of that, you can layer interactive components to these ad experiences, enabling people to take advantage of the touch-screen interactivity that so many devices offer. Product hotspots and shoppable carousels are two interactive video features that allow brands to overlay different products in a single video ad. By adding animation and deep linking to product pages, it’s easier and more convenient for people to click and buy. Live polling is another popular interactive feature within video ad formats that similarly takes an existing video asset and overlays it with an interactive poll.
With the rise of short-form video platforms like TikTok, Instagram Reels, and Youtube Shorts, it’s clear that video is people’s favorite source of content. Marketers should take advantage of this and bring interactive video to their media mix.
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How brands are creating trust |
Nowadays, to reach your customers, you must specifically develop content that reflects consumer interests. Brands should provide a valuable bridge to creating trust with consumers and elevating information to a massive audience. Here are some ways brands are transforming the future of media:
1. Embracing changing consumer expectations
Consumers’ expectations have changed. Their relationships with brands have become less transactional and more emotional and value driven.
2. Leveraging relationships with consumers
Businesses are trusted ahead of organizations, governments, and traditional media. Brand journalism is likely to strengthen the relationship between consumers and brands.
3. Amplifying information
Brands are using their financial resources to create content. It’s no longer enough just to provide a product. Think about your brand as an ecosystem and all of its different components. Take advantage of subject matter experts who have deep knowledge and real-world experience relevant to their brand and culture. These brands are uniquely positioned to take on complex topics.
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Are the days of getting together for a beer over? |
During my 20s, there was no better feeling than getting together with friends for a beer or a cocktail at one of our favorite watering holes after a long day/week of work. The social interaction was great and it also helped us get through the work week knowing that there was going to be some fun at the end of it. However, according to recent research, those days may be changing.
Berenberg Research shows that Gen Z is consuming less alcohol than previous generations. What’s driving Gen Z’s rejection of alcohol? They’re health conscious and drinking makes it harder for them to attain their wellness goals. They also favor cannabis over alcohol. According to a Technomic survey reported in Restaurant Business Online, in states where pot is legal, about two-thirds of Gen Z consumers are smoking it, and about half are drinking it in the form of cannabis-infused beverages. So, how can brands better connect with this sober generation?
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Promote energy drinks. Gen Z has a lot to get done. They power through their day with coffee, tea, energy drinks and herbal supplements.
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Consider cannabis. Now that recreational cannabis is increasingly legal, establishments may want to consider cannabis-infused beverages, edibles, and supplements with THC.
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Is the smartphone the new TV set? |
Where do you spend most of your time watching videos?
The shift between platforms continues as consumers increase their time spent watching videos on mobile phones. Here’s more data from Parks Associates, as time spent watching video on mobile increases and time spent on video on TV sets, tablets, and computers continues to decrease.
- As of this year’s first quarter, nearly half of consumers reported watching video on mobile phones within the past 30 days.
- Larger numbers still report watching videos on TV sets. However, the percentage has decreased steadily since 2020.
- Advertising-based video-on-demand (AVOD) accounts for the largest share of time spent watching on mobile, at nearly two hours.
- Subscription video-on-demand (SVOD) and live streaming each account for about an hour per week of the mobile view time.
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Here is a recent highlight from Marketing Keys' blog page. Please start following our blogs and let us know what you think.
Get the latest insight here!
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Get help from 'The Mouse'! |
In my previous life, I worked for many media companies including the one headed by the Mouse. During my 20 year executive run with media companies, I had noticed that if an advertiser wasn't properly represented with a media expert helping them with their media planning and buying, then that company was at a disadvantage. Thus, I created a company to provide a solution to that problem.
Marketing Keys was formed in July 2007 (we just celebrated 15 years of being in business!) to more than level the negotiation playing field between advertisers and media companies. We enabled advertisers to have a major leg up in the process.
We target Presidents, CEOs, Regional Managers, Marketing Directors, CMOs, etc. of small and mid-sized businesses. We then go to market with our 'key' differentiator and mission. During the last decade, the company has grown from 2 clients in 2010 to presently close to 20.
To find out if we can help build on the results that you had started and eliminate the inherent disadvantages of buying media on your own, please reach out to us HERE!
Thank you for your loyalty in reading our newsletters. If you know someone where this information may be helpful, we appreciate you sharing it. In the meantime, we will continue to keep you at the forefront of the latest marketing strategies and news.
Until next month,
ROGER KEYS
MARKETING KEYS
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Cool! But will I see animals? |
Can you believe the holidays are almost here?! The most wonderful time of the year deserves the most wonderful event of the year! Celebrate the holidays with ZooLights presented by ComEd and Invesco QQQ. This festive, one-of-a-kind holiday experience offers a merry, family-oriented tradition at Chicago's Lincoln Park Zoo. Get your tickets today! And, yes. The animals will be out!
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When it's fun to get 'Carded'! |
Do you ever get stuck on what to buy for that hard to buy person on your list? Get him or her a Hooters Gift Card - the gift that is always done in good taste! Ship the card directly to their inbox or mailbox. It makes your job so much easier. And it always puts a smile on the face of the recipient. For more, Click Here!
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Stay safe this holiday season! |
Many accidents happen around the holidays. Our client, Lloyd Miller Law, has some helpful tips to keep in mind to help you stay safe this holiday season!
1) Drive sober. Drunk driving car
crashes are 4x more fatal.
2) Remain in the kitchen while
cooking.
3) Check batteries and test your
smoke alarm.
4) Use a step ladder to decorate
areas higher than eye level.
5) Water your Christmas tree. The
drier the tree, the greater the
chance of fire.
6) Keep Christmas lights and candles
away from flammable sources.
7) Get help with items that are heavy
and awkward to manage.
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Are you Socially Challenged? |
During my 15 years as a business owner, I have discovered there are many companies out there that are challenged with the task of managing their social media.
It may be that they are confused over the platforms that they should use, the content they should post, how to boost that content and/or the time or lack thereof that goes into managing their social media platforms.
As a Social Media partner of ours, our Social Media expert will manage and strategize daily on your sites. We will also coordinate all communication so there are no surprises while all of your initiatives are scheduled accordingly.
For more information, please contact Marketing Keys at (312) 375-5007 or you can email us HERE!
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Fill up your lead funnel! |
In the days of Mad Men, creativity was everything. The goal was for a brand to be the most creative creating a tag line to resonate with the audience. Now, creativity takes a back seat to targeting through data and reaching your target synergistically through multiple mediums with an integrated marketing campaign.
Find out how Marketing Keys can help generate (on average) an incremental 30-35% more in leads and/or conversions through our system.
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