Grow Your Ad Spend in 2023

While everyone is on the edge of their seats waiting for the predicted recession to finally hit, we may be in for some good news as marketers. According to S&P, digital advertising is expected to grow 9% this year! In contrast, TV is expected to drop 8.1% and radio is expected to see the largest drop at 10% according to the report.

What does this mean for your brands advertising? There are many changing factors happening both within digital and traditional media right now. From Twitter changing itself what seems like daily to TV turning more toward streaming services, it can be hard to know where your brand needs to be to meet your specific audience where they are.

The best approach is to focus where you know your customers are. Right now, that place is more than likely on their phones. Even when they are watching TV, if they are anything like us, they are watching TV while looking at their phones at the same time. Digital marketing is more important now than ever before and the updates to the advertising platforms can be tough to keep up with. 

So, how can you get started or refresh your digital ad strategy? 

  1. Concentrate on only a few of the top platforms your customers are using. There is always an overlap of where your customers are and the type of content you can create most efficiently.
  2. Create, Create, Create. With the new AI and emphasis on machine learning in recent years, the more creative you can plug in to your ads, the better the platform will be able to serve it to your customers. 
  3. Outline your buying funnel. By identifying the type of message your potential customers need to see throughout your buying process can help you build the message they need to see at the right time.

If you’re looking to move your brands ad dollars away from traditional advertising into digital, you’re not alone. Let our experienced team at Digital Story help you find the most efficient digital marketing strategy for your business as we head into the busy season!

Source: Ad spend in the US will grow more than initially expected this year, per S&P

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