What does the North American market look like for 2022? Dentsu analysts, in their Ad Spend 2022 report, believe marketers will spend $322.7 billion. Globally, the ad market will rise 13.7% in 2022. And digital formats will attract 52.8% of the ad spending. Here's a summary of which formats will have the strongest growth rates and where to find the media sales opportunities for the year.
Ad Market Will Rise in 2022
On a global basis, the ad market will break out as follows by major format:
- Digital $408.4 (billion)
- TV $197.8
- Print $49.8
- Out-of-home $40.6
- Radio $36.1
- Cinema $2.5
With linear TV amounting to 26.9% of total ad spending, the projected 2022 growth rate for the format will be 3.8%. The print component includes newspapers at $30.4 billion and magazines at $19.4 billion, and both of those sectors will experience single-digit declines in ad sales this year. Out-of-home, with its 5.5% share of the market, will likely see a 12.8% increase this year. Similarly, radio, at 4.9% of the ad market, can expect about a 2% boost in ad revenue. With $2.5 billion in ad sales, the cinema market accounts for only 0.3% of the total but will likely see a 23.4% growth rate over 2021 as major studios release more titles and consumers return to theaters.
The digital component deserves an in-depth look.
- Display $213.3 billion (56%)
- Classified $23 (6%)
- Paid search $144.9 (38%)
The paid search sector will likely grow 16.9% over 2021. Digital display will see a 15.4% increase. Classified, though, will experience only an 8.7% increase.
Densu analysts also looked at sectors likely to boost ad spending this year. Not surprisingly, the travel verticals will likely experience a 10.3% growth in ad buying when compared to 2021. The timing of this ad spending may correlate with the hoped-for retreat of COVID-19 infection as the weather warms in the Northern Hemisphere. However, the travel increase may be recreation-focused as corporate travel may be undergoing a shift.
Analysts also anticipate a 7.6% increase in automotive ad sector spending in 2022, especially since consumers prefer their own vehicles for traveling these days. However, some of the ad spending may be tempered by supply chain issues. BIA, though, expects that local ad market spending by auto dealers in the U.S. will amount to $3.7 billion.
Analysts also caution marketers to use “structured data and feeds and automation to better information their audiences about product availability by dynamically adapting the content of ads.” For example, when the marketer realizes they are short on inventory of a specific product, they could shift the ad focus to a different product.
Beyond that, your clients must remember that marketing is not always about promotion. During the past two years, they may have run ad campaigns touting discounts on their products. But to build value in the long term with consumers, marketers must also build their brands. They can accomplish this task by touting their stance on key issues that matter to consumers, whether it’s social justice or climate change. As long as their messaging is authentic, they can improve and increase brand reputation.
Whether their brand has a fun or a serious reputation, consistent and regular messaging helps your clients build credibility, an important consideration for attracting new customers.
Your clients also need to be aware of how their advertising compares to what competitors are doing. You can quickly get information like that by running a Digital Audit. The tool, available at AdMall by SalesFuel, gives you information to start a conversation with potential or existing clients. With the ad market set to rise this year, you don't want your clients to miss out on growth opportunities.
Photo by Mikael Blomkvist from Pexels
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