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Digital audio will become a popular choice for marketers in 2023. That’s according to a just-released report by Integral Ad Science, which shows that podcasts and other forms of digital audio are fertile ground for advertising to improve product awareness and brand reputation. It became clear.
Another thing the report reveals is the concern of various marketers currently working in the industry. He said 51% of marketers said he would likely be hit pretty hard by the removal of cookies and other forms of third-party tracking. 33% are also concerned about ads appearing next to questionable content, and 18% are noticing a decline in consumer trust in proprietary software, which will affect future marketing efforts He said he is worried that
It’s important to note that social media platforms continue to be hotbeds of marketing and advertising. His 91% of marketers say he plans to advertise on at least one social media platform, but the platforms he uses are changing.
By 2022, 71% of marketers said they would like to advertise on Facebook. This number he will drop to just 52% in 2023. YouTube’s share dropped from 69% to 50%, Instagram’s share plummeted from 65% to 44%, and even TikTok dropped nine points from 40% to just 31%.
Despite the situation, Twitter seems to be doing well. That number hasn’t changed at all, staying at the 46% mark. This seems to suggest that Elon Musk isn’t alienating marketers and brands as everyone thought.
Additionally, current economic sentiment means that marketing spending on social media platforms is not growing as fast as people expected. In 2021, those marketing spends increased by a staggering 37%. Growth has plummeted and is now hovering around 8%. This doesn’t bode well for the future of social media marketing.
Social advertising is also becoming less than ideal as consumer trust is eroding. His 77% of marketers are concerned that consumers don’t trust social media platforms as much as they used to. Still, there is still a demand for transparency in user metrics, with 67% of marketers finding these metrics relatively easy to obtain from the social media platforms they post ads on.
So I don’t think the era of social advertising is over. However, 23% of his marketers chose Spotify as their preferred platform for the first time. This seems to suggest that the balance is tipping, and it will be interesting to see if Spotify can sustain this popularity well into the future. It remains to be seen if that will materialize, but next year will be a litmus test for streaming platforms and digital audio in general.
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