For media buyers new to the space or looking for a refresh (Media Buying 101), 2023 holds exciting new opportunities to optimize ad spend and connect with target audiences across the evolving media landscape.
Paid media will continue seeing increased focus and investment in 2023. Trends like retail media, CTV, and social commerce will expand opportunities to influence consumers along the purchase journey.
Retail Media networks like Amazon DSP and Walmart Connect offer targeted ad placements on e-commerce sites where users are actively browsing and shopping. As commerce continues shifting online, retail media allows brands to reach audiences when purchase intent is highest. Strategically optimizing ad spend on retail sites will be crucial for driving conversions.
CTV (connected TV) has experienced remarkable growth as consumers shift to streaming television content through internet-connected devices. CTV provides engaging ad experiences on the big screen with less clutter and distraction than linear TV. Media buyers will allocate more budget to CTV as audiences fragment across streaming services.
Social Commerce integrates seamless shopping experiences into social platforms through product tags, shoppable posts, and more. Social media will be a key channel for direct-response campaigns focused on driving product sales.
Digital channels, formats, and buying methods will dominate media strategies thanks to precise targeting capabilities and robust measurability. Trends like programmatic buying, privacy-focused tactics, and optimizing for multi-device usage will be focus areas.
Programmatic buying uses automation and data to purchase digital ad inventory through instantaneous auctions. It provides improved audience targeting and faster performance optimization. Programmatic enables buyers to be nimbler and more efficient. Brand safety and ad fraud prevention will be particular concerns.
Privacy Changes like Apple’s ATT and Google’s Privacy Sandbox will push marketers to refine strategies around first-party data and zero-party data (information consumers intentionally share). Respecting consumer privacy while still targeting effectively will be crucial.
Multi-platform Optimization requires understanding how audiences interact with content across devices like desktop, mobile, tablets, and CTV. Crafting consistent messaging and experiences across platforms will allow for deeper consumer engagement.
Programmatic ads use real-time bidding and automation for placement. Instead of negotiating with individual publishers, inventory is purchased through ad exchanges. Key programmatic trends include:
As programmatic evolves, transparency, viewability, and measurability must improve. However, the efficiency of programmatic buying will continue driving adoption.
As consumer behaviours and technology evolve rapidly, agility and optimization will be crucial.
Here are some top media buying strategies needed to succeed in 2023:
No matter the strategy, aligning media mix and tactics to overall campaign goals and KPIs will be vital for driving performance. Embracing the latest trends can help buyers maximize impact and return on ad spend.