In the ever-evolving world of digital marketing, advancing trends in the field of paid media have become an important part of a successful marketing strategy. In this blog post, we will explore some of the biggest paid media trends that marketers should know about in 2023.
Relevance is everything. If an ad is not relevant to the person viewing it, they are less likely to take action. Personalization solves this problem with tailored ads to specific segments of your audience. As a result of this increased relevance, personalization can lead to a significant boost in conversion rates. When people see ads that are relevant to their interests and needs, they are more likely to make a purchase.
First-party data is excellent for personalizing campaigns and providing a more tailored experience. By using information such as demographics, website visitors and past purchasers, you can create ads that are more likely to be relevant to the person seeing them. This means reaching the right user with the right message at the right time, every time.
Personalization can be easily implemented by utilizing different ad formats for different segments of your audience. For example, you can utilize a video ad to build brand awareness with potential customers and a dynamic product feed to build brand loyalty with your current customers.
More and more paid media will become automated. Automation rides on the coattails of real-time data that helps identify your target audience, crafts the right message, and delivers the right ad based on each user’s unique behaviors.
Automation gives you the control to put your data to good use in a highly scalable way. It’s measurable, flexible, and its reason for success is data which serves as the north star to any campaign.
While automation can’t completely replace valuable human insights, it can simplify the work involved in a paid search and social strategy. Automation helps manage those repetitive, day-to-day marketing processes so you can hone your attention on what matters: strategizing, not implementing.
From reporting to ad creative, the opportunities for automation are out there and when utilized correctly, bring undeniable perks to the table making it the new standard in today’s paid media atmosphere.
For several years, last-click attribution has allowed marketers to allocate 100% credit to the last marketing channel before a purchase. In today’s world, to better understand what’s working and what’s not, marketers need to measure the value of each marketing contact that resulted in a purchase.
This more sophisticated approach evaluates all of the marketing channels in a customer journey and attributes credit accordingly. Embracing a true cross-channel attribution approach provides a complete view of the customer purchase path, identifies cost-saving opportunities, and produces revenue-generating strategies. That said, companies that adopt a holistic attribution model have a better understanding of the customer journey, and all of the unseen factors that influence conversion. The overall benefit is the ability to increase marketing effectiveness and ultimately drive greater overall revenue.
Although the adoption of advanced attribution might be a long process because of the complexity, the need for cross-channel attribution has taken a front seat, despite the increased difficulty of obtaining this integration. In the end, though, it all comes back to connecting with customers across the right channels, at the right time, with relevant ads. Brands with a lot of data that have multiple touchpoints with their customer should have holistic attribution on their radar for 2023.
These are just some of the biggest paid media trends that marketers should watch out for this year, but there’s undoubtedly many more upcoming developments in this space that cannot be predicted.
To ensure that you’re taking advantage of this year’s paid media trends, reach out to our team of Paid Media experts at info@socialflyny.com! You can also find more of our top digital marketing trends here.
Written By: Kelly Jensen, Senior Media Buyer