Retail media ad spending will rise 30% in 2024, experts say | LinkedIn's professional content creation draws marketers | Keep Facebook ads simple at first, says Meta ad director
March 21, 2024
News for advertising, marketing and media professionals
Advertisers will spend 30% more on retail media networks this year and the channel will make up a quarter of digital ad sales nationwide by 2025, Advertiser Perceptions predicts. Offside programmatic spending should rise to $20 billion, up from $7.5 billion last year, due to streaming growth and more publishers embracing the format.
Marketers, agencies and creators are being drawn to LinkedIn's increased video content, influencer network, newsletters, engagement-focused algorithm and invitation-only LinkedIn Top Voices program of experts, with some companies pivoting to go all in on the platform. LinkedIn's focus on professional networking and content sharing allows creators and influencers to stand out by targeting relevant audiences in their industry and creating value-based content.
Erica Santiago offers 230 ChatGPT prompts that help brands maximize the tool for a variety of business functions, including marketing, content creation and social media, analytics and e-commerce. Understanding the desired output, assigning specific tasks and providing details and feedback will enhance results, but output always requires double- or triple-checking for accuracy, writes Santiago.
Despite the many ad options Facebook offers, trying to "play with everything" leads companies to waste money with improper capabilities or targeting, says Meta Ad Director Tarcisio Ribeiro. Meta's own tips include taking advantage of carousel formatting and emphasizing user-generated content.
Roberto Ruiz of TelevisaUnivision sees the Hispanic market as an opportunity for growth and a way for brands to engage with a vibrant demographic while future-proofing their business. Ruiz recommends marketers consider the three ways Hispanic consumers see themselves: the Hispanic identity, ties to country of origin and American identity.
NBCUniversal curated its One Platform Total Measurement tool to focus on seven partners, made VideoAmp its main currency for the 2024 upfronts, and revealed a number of new ad formats for the Olympic Games. The company made its announcements at the One24 event, where it also revealed 324 additional audience targeting segments and plans to expand shoppable TV.
Updated viewer retention charts in YouTube Studio offer analysis of specific audience behaviors and how individuals are engaging with content that can be filtered by subscribers and non-subscribers, new and returning viewers and organic and paid traffic. YouTube is testing the tool among select creators, and hasn't disclosed specific timing for a full rollout.
Enrollment in e.l.f. Cosmetics' Beauty Squad loyalty program has been growing 30% year over year and its 4.5 million members are driving nearly 80% of the brand's online sales and 95% of in-app sales. Now, the brand is adding gamification elements into its campaigns and expanding loyalty milestones such as birthday and other rewards. E.l.f. is working with cloud software company Braze to analyze consumer data and carry out its loyalty plan, and is using Stitch to implement the loyalty program's technical changes.
GoSpooky, with creator Robuilds, created "The JBL Land Movie," a three-part, 23-minute film running in the brand's Roblox game world, and it also will be released across TikTok, YouTube and Instagram. The film features Robuilds on a quest to express herself through sound, supported by four characters played by her Discord fans.
Imprint, with Golin handling PR, created a livestream YouTube event for Hard Mountain Dew Baja Blast to celebrate Wednesday's Alien Abduction Day. The stunt featured a pallet of the brand's hard brew placed in the UFO sighting hotspot of The Phoenix Lights in the Arizona desert, marked by a bullseye surrounded by the copy, "Please abduct us. We're ready to blast off."
IAB PlayFronts is the annual marketplace dedicated to showcasing advertising and partnership opportunities in the gaming industry The third-annual IAB PlayFronts will define the gaming landscape, elevate the effectiveness of gaming and demonstrate creative opportunities for brands. This event will bring traditional and digital agency planners, buyers, creatives and brand marketers together to educate and evangelize the power of gaming as an effective and valuable platform to reach consumers.
With new regulations and state privacy laws taking effect, the digital media landscape is constantly evolving. Stay ahead of all the legal, policy, and technical challenges impacting your businesses. The annual IAB Public Policy & Legal Summit will bring together leaders in advertising, media, technology, and the government to address how to continue to build a sustainable consumer-centric media and marketing ecosystem.