How to Take Advantage of Marketing Intelligence Tools in 2023

BY Kyla Snodgrass
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The advertising market is expected to change in 2023. Media sales reps can stay ahead of the curve by using AdMall by SalesFuel, which is one of the most popular marketing intelligence tools on the market. Aim to find out more about your client’s specific target market to ensure that their advertisement money is being spent efficiently.

Advertising Revenue Growth Forecasts

MAGNA has just published its 3rd Quarter Forecast for the 2023 ad market. Media companies can expect the following increases by format:

  • Cinema 34.9%
  • AVOD 32.7%
  • Short Form Video 13.2%
  • Search 12.6%
  • OOH 7.7%
  • Social 6.4%
  • Audio 0.8%

These media formats are expected to decrease:

  • Publishing 1.1%
  • Direct mail 6.8%
  • Broadcast TV 7.5%
  • Local TV 22.1%

Furthermore, analysts predicted that specific vertical industries, such as entertainment (movies and streaming), travel, automotive, and betting will increase their ad spending in 2023. Small or local companies should consider doubling down on marketing intelligence tools. Following the same media routes as the large agencies could ensure that their brand’s advertisements will benefit them in the long run.

Examples of Media Formats That Are Expected to Thrive

OOH Advertising

What else is changing? Talon reports that 51% of companies are investing more in OOH in 2023. Although OOH advertisements continue to grow in popularity and revenue, brands should be looking more at DOOH. The number of screens we encounter daily continues to increase, and advertising is evolving along with it. OOH advertising is great for its unskippable nature, as well as its unmatched reach. Consumers are bound to notice this type of advertising while they are waiting, whether that be for their turn at Topgolf, in line at the store, at a sports event, the gas station, or more commonly noted at the cinema. In addition, it is an opportunity to use marketing intelligence tools to target your client’s specific audience using data on where they like to travel or spend time.

AVOD Advertising

MAGNA expects AVOD advertising to be a high-​growth category in 2023. This media format is projected to reach over $6 billion in ad sales. With a predicted recession, consumers are looking to watch free content, and AVOD provides such platforms in exchange for watching advertisements. Cater to this data and mention this trend to your clients. Suggest that they allocate money for AVOD media, such as YouTube, Vimeo and other widely known video streaming platforms that their target audiences uses, based on marketing intelligence tools.

Search Advertising

Standard Media Index’s (SMI) data shows that retail media has seen a spike in popularity as traditional search decreases in use. July 2022 saw a 3% decrease in traditional search use by 11 large ad agencies, followed by a 6% and 12% drop in August and September, respectively. Companies are decreasing expenditure on traditional search because consumers are going to retailers to conduct a native search to look for specific products, instead of consulting search engines first, like Google. Traditional search shows a broad spectrum of results, while native search is specific to a product or category. Therefore, your clients may want to spend less on broad traditional search marketing and advertise on retail media sites popular with their target audiences.

Omnichannel Advertising

So, what else should clients be doing? Head of insight and analytics at SMI, Rick Bruner, suggests, “If you’re mainly using display, buy more video content, or mainly video, take the opportunity to add display.” This means that you should advise your clients to diversify the channels that they funnel advertisement money into. Advise them to invest in retail media over traditional search. Likewise, review this article by Rachel Cagle, writing for SalesFuel, which talks about the omnichannel approach when talking about B2B advertising.

In conclusion, the looming recession is going to significantly impact the economy. Make sure your client’s advertising dollars are being spent efficiently. Help them use marketing intelligence tools, diversify their media channels and pick effective search options.

Photo by Mikhail Nilov on Pexels.

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