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The results are a mix of last year’s favorites and some new trends.
Authenticity Over Perfection – Whatever It Means
The way brands create content for social channels is changing with the rise of TikTok and the move to focus on Gen Z. That means brands and influencers are moving from fully curated Instagram posts to more authentic looking TikTok videos of him.
Katie Tenerovich, Director of Social Strategy at Carmichael Lynch, said: “People want authenticity, and yet the word is not authoritative. We need to stop spending.”
The type of competition marketers face in capturing consumer attention is also changing the game, and will continue to do so in 2023. “They want to see and engage with something that looks like they made it. Marketers have had to compete with other brands and the entertainment industry for space and attention. , we have to compete with everyone who has a social media account.”
TikTok as a search engine
Marketers and agency executives expect TikTok to continue to rise in 2023. While this is certainly a trend to continue in 2022, marketers say TikTok’s approach to it could change in the new year as it seeks ways to master search on the platform.
Zola CMO Victoria Vaynberg, when asked about her brand marketing New Year’s resolutions, said:
Douglas Brundage, founder and CEO of creative consultancy Kingsland, added: This makes the marketer’s desire to master searching on the platform logical. However, increased government scrutiny of TikTok may make this harder to achieve, especially if the app is outright banned.
“Spending on TikTok will continue to grow because the product is great,” Brundage said. But governments in the US and Western Europe continue to step up scrutiny of the platform, and all could come to a head in 2023. “Anti-social CCP laws,” banning TikTok outright. bipartisan legislation.
If the legislative threat proves pointless, marketers and agency executives are hoping that an “always-on” approach to content on TikTok will become the norm.
Reach Agency CEO Gabe Gordon said: “This change shows that the platform’s effective algorithms, which are based on user interests rather than creator/influencer follower base, can deliver relevant content to niche, targeted and passionate audiences.” .”
Ripple effects of economic uncertainty
Marketers and agency executives have spent the last few months (and years) navigating economic uncertainty and a looming recession. Many believe the recession will actually hit him in 2023. The ripple effect will come with continued flexibility built into advertising plans and marketers looking to cut costs and prove effective to his CFO. That means a lot of tried and true spending.
Grace Teng, Chief Media Officer of Scale by Zambezi, the agency’s media arm, said: “Advertisers are looking to tie media to her ROI, so anything that can show movement toward results will be highlighted.”
Teng continues: Also, OOH and movies will continue to increase compared to he 2021 and he 2022 as people stay home. “
Apart from changes in spending, some expect economic spillovers to affect CMO status. gained traction In recent months — more popular.
Wheelhouse Labs Creative Director Joseph Salfim said: “With more brands looking for ways to cut costs and a constant rotation of CMOs, I think more brands will look to fractional CMO to guide their marketing efforts. It offers objectivity, fresh thinking, and the drive to make a difference, without being stigmatized.”
Whatever happens, the economic anomaly will prove difficult for marketers to manage.
Lachlan Badenoch, Chief Strategy Officer and Senior Partner at Carmichael Lynch, said: “Whether we technically avoid a recession or enter it, it will be atypical.”
“Employment is high and consumer cash flow (purchasing power) is likely to rise throughout the year,” Badenok added. “The nuances vary, but more than past recessions, the winners of brands will spend smarter and ultimately be the brands that spend more for their market share than their competitors.”
3 questions Christena Garduno, CEO of Media Culture, a multi-channel brand response media agency
What did you hear from your side about the topic of The Recession and How We Talk to Clients About It?
Economic and global conditions are fragile. From global instability to economic downturns to climate change, advertising must engage customers in ways that are relevant to everyday life. A savvy marketer knows that for a campaign to be successful, it must naturally gain audience empathy for results.
Why Do you think living outside the home has become more popular while we deal with economic uncertainty?
OOH allows businesses to maintain a consistent presence in the real world and provides unique options to attract target consumers. The best way to spend money in a depressed market is to invest in activities that cost-effectively engage with customers and foster long-term loyalty and trust. Investing in an OOH strategy can increase ad spend even in a recession. This is because OOH advertising is much cheaper and still generates valuable consumer data and conversion rates.
What are your thoughts on direct-to-consumer brands using TikTok for their holiday campaigns this year?
DTC brands communicate directly with customers through social media, create and enhance their offerings based on continuous customer input, and rely on excellent customer service to promote their value. TikTok is one of the most popular social media platforms today, so it’s an advantage for D2C marketers. The platform is expanding rapidly.Direct to the consumer to stand out in a sea of promotional materials [brands] You need a unique marketing approach that appeals to your customers’ ambitions. TikTok influencers can be a hidden weapon for boosting Christmas ads and skyrocketing sales. — Julian Cannon
in numbers
Since the arrival of Apple’s iOS 14 and the emergence of Google’s threat to destroy third-party cookies, marketers have remained vigilant as data privacy regulations have become more aggressive. As we move into 2023, a new report from growth acceleration platform Liftoff shows that privacy is a top concern for app marketers. Important details in the report below:
- 43% cites the biggest challenge of the past year and clearly the biggest hurdle to overcome in 2023 as the industry’s shift toward a more privacy-focused direction.
- 58% of marketers say they feel positive or neutral about the industry. 42% They said they have a negative outlook.
- 52% of respondents said they have plans to increase their overall advertising budget, but 12% expected to decline next year. — kimeko mccoy
quote of the week
“When I talk to my clients, they are certainly ready to raise funds. What are the best advertising practices in a recession?” That said, my sense is that Q4 has been pretty solid so far and how the year ends will shape (somewhat) how ad spend will shape next year. is determined. “
— Gartner Senior Director Analyst Eric Schmitt, when asked about the decoupling of advertising from the economy and the biggest misconception of advertising recession,
What we covered
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