Online healthcare delivery soared in 2020, and health and pharma advertising budgets followed suit. Digital ad spend will reach $15.84 billion in 2022, and although growth is slowing down, the category is still estimated to approach nearly $20 billion in spending through 2024.
As we look to the future, one of the biggest topics in healthcare is going to continue to be—yep, you guessed it!—privacy. And while this isn't anything new, there are two sides to the privacy coin for marketers to consider.
On one side: more and more people are prioritizing their data privacy rights. This means it's critical that healthcare marketers have the framework to manage consumer privacy as demands continue to intensify. If a consumer were to come to your brand directly and ask to be removed from your marketing lists, do you have the processes in place to make that happen? If not, then it is critical you establish the infrastructure you’ll need to comply with these requirements—especially as privacy regulations continue to strengthen.
And, on the other side of the coin: consumers are increasingly willing to have very vulnerable, very sensitive discussions about their health and wellness on social media. Of course, this has been a common practice for a long time, yet historically these conversations have been peer-to-peer. But with growth in TikTok communities such as #medtok and #doctok, they are now also happening between peers and providers. People are using social platforms to educate themselves and engage in specific health topics, so this creates an opportunity to engage users in a very direct way. Also, it’s worth noting that this doesn't mean your brand needs to have a “cool” TikTok presence. It just means that your paid content should have an authentic and relatable voice that matches the tone of the communities themselves.
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Want to learn about some of the macro trends affecting digital marketing more generally? Check out our 2023 Trends Report to stay ahead of the curve as you plan for the year ahead.
As we head into 2023, the big topic for consumer-packaged goods (CPG) brands is retail media networks and how they are going to affect budget allocations.
Retail media is an area of advertising that is just beginning to realize its potential: After two banner years in 2021 and 2022, US digital retail media ad spending is expected to continue its meteoric ascent into 2023, growing 25.8% to $51.36 billion—accounting for more than 18% of total digital ad spend. Dozens of retail media networks have come onto the market in recent years, with virtually every leading digital marketplace, mass merchandiser, national grocery chain, category-specific retailer, and delivery provider getting into the game.
Here are three considerations CPG advertisers should make as they leverage retail media networks:
Interest in retail media is driven by the promise that brand advertisers can access their troves of first-party shopper data to better target and measure ad campaigns, all while placing messages closer to the point of sale. The question, then, is how you can utilize that valuable consensual data to better engage consumers so you can build out your own zero and first-party data collection strategies? This is a critical piece of the advertising puzzle in the cookieless future present.
One of the big problems facing CPG brands right now is how to finance each network. Think about ways you can create mutually beneficial programs with your partners across brand, product, and sales so that funding can come from each group as opposed to straight out of the marketing budget. Another option: shifting ad dollars from channels on which you would normally do direct buys.
Evaluating whether and how to use a retail media network should depend on your brand’s needs. Do you simply need coverage at the point of sale? Are you looking to create a comprehensive omnichannel experience using the network’s audience data across display and social? What level of analysis into ROAS, SKU-level sale data, and digital shelf optimization do you need? Identifying the solutions that will create holistic campaigns across multiple channels and retailers will enable your dollars to stretch further.
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Want to learn about some of the macro trends affecting digital marketing more generally? Check out our 2023 Trends Report to stay ahead of the curve as you plan for the year ahead.
With supply chain issues delaying delivery of key parts and curbing new car manufacturing, the automotive industry slammed the metaphorical brakes on at the beginning of the pandemic. But its engines never ceased running, and now we find ourselves entering arguably the most dynamic and expansive period the vertical has ever seen, with electric mobility, new direct-to-consumer (D2C) brands, and evolving consumer behavior joining forces to make major impacts.
And so, despite near-term challenges (less affordability, rising interest rates, and tight supply), there are myriad reasons to be optimistic in 2023, all of which should trigger more advertising investment:
The question, then, is how will these industry trends shape advertising trends moving forward?
First and foremost, brands will need to make their electric cars the stars. Fifty-two percent of car buyers say they would prefer an EV for their next purchase, so advertisers will need to prioritize creating awareness for these products and educating consumers about the benefits of electric mobility as they communicate their EV story. Both brands and dealers will also need to find ways to usher in EVs without cannibalizing the traditional gas-powered vehicle buyer.
Second, robust retargeting strategies will be key. Consumer behavior is shifting rapidly in this space, with more choices leading to more cross-shopping between models and ultimately less brand loyalty. To take advantage of these movements and accelerate into a position of strength, advertisers should focus on implementing powerful, future-proof audience segmentation strategies that will empower them to target engaged consumers effectively.
And one final thought as you consider media planning for 2023: Traditional automotive in-market segments will look different than in years past—mainly due to inventory and cost factors that are extending buying cycles. The path to purchase will likely be much longer than at any time previously, and to find the right consumer, automotive brands and dealers would do well to build a first-party data stockpile that can drive better results.
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Want to learn about some of the macro trends affecting digital marketing more generally? Check out our 2023 Trends Report to stay ahead of the curve as you plan for the year ahead.
The higher education marketing landscape is changing. Why? Online learning.
People of all ages are embracing cost-friendly digital courses to learn new skills that can help them navigate today’s evolving world of work. From major colleges and universities to online education giants to newer nondegree providers, institutions of all kinds are grappling for a share of this lucrative market—packing even more players onto what was already a crowded playing field. As competition soars, education providers (both traditional and emerging) must be bolder and more innovative when looking to connect with prospective students in 2023.
And where better to start than TikTok, the social app of the moment and a favorite tool of Gen Z (a crucial audience segment for this industry)? When advertising on TikTok, keep in mind that you will want to reframe the way you think about creative—steer away from making an ad, per se, and instead craft content that feels organic to the platform. You’ll also want to tap into the value of student ambassadors. Find students at your institution who are already making great content and let them do some of the creative work for you. Once you have your content strategy in place, put a paid media campaign behind it to maximize impact and ensure it reaches the right audience.
Speaking of which: don’t forget to target parents and education-related influencers like guidance counselors and coaches. And remember to adjust your messaging for each audience—for instance, for parents, focus on value-driven factors such as career services, job placement rate at graduation, financial aid, and/or scholarship opportunities. Then in terms of recruiting graduate students, one of the biggest barriers to enrollment is the cost of tuition, so consider targeting prospective students who have built-in financial assistance. One way to do this? Geo-fence the corporations in your city that offer tuition reimbursement to their employees.
Next, think full-funnel media strategy. Paid search and Meta remain the top conversion drivers for colleges tracking form fills (i.e. campus visit registrations, application starts, etc.). But when it comes to upper funnel platforms, which drive search demand and fuel the retargeting pool, focus on Snapchat and TikTok for undergraduate programs and LinkedIn for graduate programs.
Finally, programmatic advertising is still a surefire bet. Social media platforms are slowly removing targeting options (most notably Meta), but you can make up for that by serving programmatic ads to your hyper-targeted audiences, and then retargeting the users who engage with those ads (and their lookalikes) on other platforms.
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Want to learn about some of the macro trends affecting digital marketing more generally? Check out our 2023 Trends Report to stay ahead of the curve as you plan for the year ahead.
Increasing rates of legalization across the US are creating a massive boom for the cannabis category. Combined US medical and recreational marijuana sales are projected to top $33 billion in 2022, which represents a 32% increase year-over-year. This number is expected to rise again to $38.8 billion in 2023—and that growth comes against the backdrop of a 2022 executive order that may have far-reaching consequences for the industry and its financing.
Today, as cannabis comes to our cities’ Main Streets and category players enjoy greater market opportunities, there is more investment going into cannabis advertising and marketing in an effort to break down the stigmas, expand awareness, and attract sales. Moving into 2023, here are three trends to watch out for:
Before Google finally sunsets third-party cookies on its Chrome browser, brands will want to start utilizing a data management platform (DMP) to capture consumers’ first-party data—whether that’s online or offline. Cannabis brands essentially need to modernize how they collect and manage that data and parse it into segments to execute targeting strategies within the digital ecosystem.
Adjacent to cookieless data, advertisers should look to establish lookalike audiences. This is a great way to capture new customers and foster greater levels of brand perception in the cannabis space. Marketers will also want to build sound retargeting campaigns to keep the loyalists they’ve already earned.
Location-based targeting and digital out-of-home (DOOH) placements are going to skyrocket within the programmatic space, especially as DSPs continue to get access to more DOOH inventory. So in cities, for example, advertisers can run campaigns at gas stations and bus stops that point consumers in the direction of the nearest point of purchase.
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Want to learn about some of the macro trends affecting digital marketing more generally? Check out our 2023 Trends Report to stay ahead of the curve as you plan for the year ahead.
Consumer demands and behaviors are changing faster than ever, and megatrends such as the expansion of e-commerce and growing threats to brand loyalty are posing major challenges for retail marketers heading into 2023. However, those same factors are simultaneously creating opportunities, and in the face of this disruption, the most successful retailers will be those that leverage emerging technology to offer new, exciting ways to browse and purchase, while also investing in their data infrastructure to help enrich their communication strategies.
Let’s explore some specific trends:
These relatively new online buying platforms are poised to see rapid growth in the US, with social commerce sales forecast to grow by more than 20% year-over-year through 2025. In other words, leveraging tools like Instagram checkout is a great option for retailers—particularly those brands that are still building out an optimized e-commerce experience on their websites. While it is an approach that requires an upfront list in terms of setting up and maintaining product catalogs, it does open the door to exploring more interactive shoppable ad units and, potentially, unlocking incremental revenue.
Of course, this is nothing entirely new given the decline of cookies and device tracking, yet some brands are still seriously struggling when it comes to building systems to make the most of their first-party data. Email capture remains the easiest entry point for retail marketers, and the most critical. However, any additional attributes can make targeting all the more effective. These can include types of products purchased, frequency of purchase, loyalty program status—really, anything that can inform more personalized messaging and allow marketers to go after valuable customers with greater precision.
Here, two areas, in particular, are coming to the fore:
That said, it’s important to differentiate buying online from shopping online. Retail marketers must think of the internet as the largest shopping mall in the world and realize that, while not every part of a digital strategy should be focused on finalizing the sale, they need to be an active part of the online shopping ecosystem if they want to stay top of mind with consumers.
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Want to learn about some of the macro trends affecting digital marketing more generally? Check out our 2023 Trends Report to stay ahead of the curve as you plan for the year ahead.
The year ahead will bring a host of major changes and serious challenges to advertisers. We will have to leave behind what we've long assumed to be true about capturing audience attention as we enter a new era of digital advertising. We have to embrace new and emerging channels. And we have to hold on for dear life during what is likely to be a bumpy economic ride.
But where there is change, there is also opportunity, and for those savvy marketers who are willing to evolve with the changing media landscape, 2023 could be quite a year. This report aims to showcase those opportunities and highlight how advertisers can best capitalize on their potential.
Ready to discover the trends that will shape digital advertising in the year ahead? Download Digital Sea Change: Basis Technologies 2023 Trends Report today!
2023 is set to bring a host of major changes to digital marketing—and with them, some serious headwinds for advertisers. From new privacy regulations to increasing consumer expectations to emerging channels to stormy economic forecasts, there’s a lot for brands and agencies to navigate.
But where there is change, there is also opportunity, and for savvy marketers willing to evolve with the transforming media landscape, 2023 could be quite a year. In this webinar, Basis Technologies’ Media Innovations and Technology team, Noor Naseer and Kaitlin O’Brien, discuss those opportunities and offer guidance on how best to capitalize on them.
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Looking for more trends content? Check out basis.net/trends and our 2023 trends report today!
Welcome to Scout! Each week, our team tracks down the best digital marketing articles, POVs, and reports—so you don't have to. Here’s what to read from the week of 11/25/22 – 12/1/22 to stay ahead of the curve:
This one’s all about cookies—though sadly, not of the holiday variety. For advertisers wondering how Google’s new tool PAIR (or Publisher Advertiser Identity Reconciliation) could help with the deprecation of third-party cookies, this deep dive has you covered.
Oh, the economic environment is frightful, but the Black Friday sales were still...delightful. This article shares the stats you need to know, as well as key takeaways for advertisers.
Burnout is real, and its impact has been particularly acute in the advertising industry. For leaders seeking to address not only its symptoms but also its underlying causes, this piece is for you.
Nearly everything has gotten more expensive this year—and streaming services are no exception. In addition to price hikes across subscription levels, services like Netflix and Disney+ have rolled out ad-supported tiers to appease investors and further offset the costs of content. The question is, how sustainable are these plans in an increasingly saturated landscape of price-conscious consumers?
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