U.S. ad spend is expected to continue to grow in 2023. According to AdAge, Adspend is predicted to break the 300 billion dollar mark in the next year. Experts attribute the growth to more time spent on mobile devices/computers, an increase in virtual channels for consumers such as delivery services and curbside pickups at restaurants, retailers, and other businesses, and overall acceptance of digital culture.
Best Places To Spend Advertising Dollars
As businesses look to the new year, it is crucial to ensure your customers and prospects know who you are, what you do, and where to find you. Digital advertising offers businesses an opportunity to target consumers based on several factors including behavior and even location. In 2023, it will be important to not only reach your customers but make sure your ads stand out.
Attention-grabbing video and images
You have seconds to capture a consumer’s attention when they are searching the internet, reading an article, or loading up their favorite app. With the increase in competition, there are a few ways to grab them.
Here are some tips to maximize ad spend:
Our TVs are smarter
Streaming TV is more common than ever. Video campaigns should include an element of smart TV ads. Streaming ads are more affordable than you may think.
Banner ads with video
Done right, video can enhance the experience for a consumer. Banner ads with videos transform a static image into an active experience.
This type of ad may come across as an experience that people are familiar with such as browsing photos on Instagram. These ads are interactive when it sparks a curiosity to scroll through the content.
This advertisement feels like a part of the content that a consumer is viewing. The advertisement scrolls through as the viewer controls the speed of what they are looking at. This type of ad leads to more engagement by the viewer.
Effective video tells your customer a story that they can connect with. Placed within the right context and area of a page or app being viewed, you can see an increase in click-through and view time.
Location, location, location
If you haven’t used location to target your customers then you are missing out, but the good news is, it is never too late to start.
You can use geo-targeting to show your ads where it is relevant to your customers and potential customers. For example, if you are a school recruiting students for a graduate program in nursing then you may want to target an undergraduate program at a certain university or a hospital. You can create a geofence around the school and hospital to ensure your ads show to those individuals.
This can also be done for specific events and locations. If there is a conference for contractors and you rent construction equipment for them then, you can set up ads to show at that event. The idea works for other brick-and-mortar businesses as well, with geo-location, if someone is in a specific area then it may trigger an ad when they open their weather app or look up the best places to eat dinner in city XYZ.
In addition to grabbing first-time visitors, you can also use your media spend to combine retargeting with geo-location to gain repeat customers.
Whether you’re seeing the same number of customers within your business’s location or you’re getting a mix of mobile and in-store customers, you will want to go digital in 2022. We’re not talking about creating a website or mobile check-out (although, you should have that), we are talking about digitally giving customers extra savings: mobile coupons.
Believe it or not, coupons are still popular. They have been integrated into our digital lives through apps and email coupons. Coupons will continue to be a great way to attract new customers and bring back repeat business.
From experiential, attention-grabbing ads to geofencing to coupons, there are so many ways to engage with your customers and potential customers in 2022. By including these techniques in your ad spend marketing campaigns, you will be on the way to a prosperous year for your business.