Earlier this month the Interactive Advertising Bureau assembled industry professionals for a day-long symposium in New York City. A slate of speakers ranging from Instagram influencers to marketing leaders from Bose and Bombas discussed the latest trends in new media. In case you missed it, here’s a recap of some of the key data and trends revealed.
1- The digital video takeoff. Digital video ad spend continues to climb, according to IAB’s 2019 Video Advertising Spend Report. Marketers report digital budgets have increased 25% year over year and a whopping 75% in the Media & Entertainment category. Consumer viewing habits explain this spike in ad dollars—advertisers go where their customers are.
Fast Facts:
- 74% of U.S. consumers 13+ watch streaming or online video at least weekly and 41% watch daily.
- 78% of digital video viewers are willing to watch advertising in exchange for free content.
- Online video viewers pay closer attention to both content and ads when watching educational videos.
74% of U.S. consumers 13 and older watch streaming or online video at least weekly and 41% watch ... [+]
2 - The influx of influencers. You can’t discuss digital media marketing trends without acknowledging the ascent of social influencers. Seventy percent of advertisers currently work with influencers, and 40% plan to increase influencer budgets in the coming months.
By building large, loyal audiences on Instagram Naomi Davis and Hunter McGrady have leveraged their platforms into partnerships with major brands. They shared do’s and don’ts to help marketers navigate this relatively new space. Both advised that brands should take into account the value of the labor and time that goes into creating content rather than performance alone.
“Data doesn’t capture the whole picture,” said Naomi Davis, the lifestyle blogger behind Love Taza. “A lot of these campaigns—it’s about storytelling. It’s about sharing something in an exciting way that doesn’t necessarily translate to an immediate sale.” For example, people don’t generally see a car promoted on Instagram, click over and buy it right away. It takes time to build a brand story that converts casual viewers into customers.
Related: How To Win Followers And Influence People On Social Media
3 - Diversifying reach. Marissa Curcuru, Manager of Global Media at Bose, follows the “fewer, bigger, better” playbook to maximize content partnerships. She aims to make an impression on as many consumers as possible. Her advice: Make sure your brand’s voice is clear and consistent in whatever channel you choose. She recounted how Bose has been able to speak to a variety of audiences and expand its reach by branching out into fashion and wellness themes in addition to consumer tech.
4 - Emerging tech for 2022. Bose’s Curcuru also shared her predictions for what marketers can expect over the next few years:
- 5K technology will transform how consumers use content, and mobile use will skyrocket among all age groups.
- Advancements in connected TV and OTT will allow consumers to interact with ads from their televisions and phones and lead to increased product placement within streaming video.
- AI developments for content will allow for more personalization in digital video.
- Voice will continue to expand as long as developers make improved accuracy a priority.
Related: 5 Content Marketing Stats To Help You Reach Your Audience
5 - The evolution of DTCs. Traditionally the most reliable channels for direct to consumer brands like sock maker Bombas have been TV, radio, and direct mail. But as industry trends shift, DTCs are exploring more channels. DTC marketers expect to allocate more than 50% of their digital spend to digital video advertising in 2019 (up +50% yoy).
This willingness to try new things also extends to the content itself. Kate Huyett, CMO of Bombas, recalled how some of the brand’s best material emerged from internal competitions and hackathons. User testing also helps reveal the messaging that resonates best. “Making sure the actual message is getting through is ultimately as a marketer what needs to happen,” she said.
