Lately, it’s become clear that market trends don’t always dance to the beat of economic stability, and this has been especially true during the recent upheavals. The COVID-19 pandemic has seriously shaken up how we approach marketing and digital advertising.
If you’re one of the lucky businesses that’s managed to keep a steady pace despite everything, that’s awesome! However, it’s no secret that a lot of marketers are feeling the pinch with tighter budgets and are now on the lookout for cost-effective, or even free, advertising methods.
Current Trends in Digital Advertising and Their Impacts
1. Diversifying Digital Marketing Budgets Across Various Channels
According to a 2021 report by Criteo, a notable trend among marketers is the diversification of advertising budgets across multiple digital channels. The report highlights a tendency to boost spending on various digital fronts, including retail websites and apps. This strategy isn’t just about spreading bets; it’s also about tapping into new and potentially more lucrative audience segments.
Furthermore, there’s a growing preference for brand-safe environments. This shift is partly due to increased scrutiny of how brands are portrayed on different platforms. High-profile platforms like Facebook have faced their share of issues, ranging from content policy controversies to privacy concerns. Despite these challenges, social media remains crucial. Yet, marketers are increasingly exploring other digital avenues to enhance their reach and engagement, striving to cover more ground than ever before.
The insights from the Postclick 2021 Digital Advertising Trends Report support this observation. The report notes that the most successful digital marketers are those who not only use multiple platforms but also fine-tune their campaigns for better conversion rates and, consequently, receive more substantial budget allocations.
Among the marketers who considered their digital strategies “very successful,” the most favored platforms were Facebook and Google (each at 89% usage), followed by Instagram (83%) and YouTube (60%). Interestingly, newer platforms like TikTok, while still not as widely adopted, are beginning to make inroads with successful teams, marking a 15% usage rate in this study.
This mix of expanding across familiar territories while experimenting with emerging ones reflects a strategic adaptation to both economic constraints and evolving consumer behaviors.
2. The Evolving Role of Social Media Platforms
The pandemic really ramped up how much we all use social media, as it became a key way to keep in touch during times of isolation. For us marketers, it’s crucial to keep up with how different demographics are embracing these platforms. Take TikTok, for instance—it’s exploded, with its North American visits shooting up by over 123%.
It’s not just young people scrolling through TikTok; parents, grandparents, and people from other age groups are getting in on the action too. Influencers on TikTok are making big bucks, driving millions in sales, and the hashtag #TikTokMadeMeBuyIt is everywhere.
This surge isn’t limited to TikTok. Other social platforms have seen a boost, especially with more people shopping online. Marketing and selling on platforms like Facebook have brought in impressive results. Will this growth keep up? Probably not at the sky-high levels of 2020, but people are definitely going to spend more time on social media post-pandemic than they did before.
3. The Critical Role of External Marketing Partners
According to the Postclick 2021 Digital Advertising Trends Report, both in-house teams and external partners are key to nailing digital advertising this year. Even before 2020, reliance on specialized agencies, tech-driven services, and freelancers was growing. The pandemic just pushed that trend into overdrive. Now, over half of the marketers surveyed (55%) plan to up their investment in these external resources in 2021.
These agencies bring to the table specialized digital advertising skills that might not exist within an in-house team. They’re flexible, they’re skilled, and they can really help define and refine your goals, strategize, and get you the results you’re after.
4. The Power of Purpose-Driven Brands
Having a mission beyond just making money isn’t a new idea for businesses, but as Social Media Today reports, it’s become more crucial than ever for brands to really understand their purpose during these tough times.
The brands that really succeed are those that make genuine connections with their customers by aligning with their values and communities. They know why they exist and who they’re here to serve. By delivering content and messages that are both useful and sincere, they can create and enhance meaningful engagement with their audiences.
Wrapping It Up
It’s crucial for marketers like us to stay updated with the latest changes on the platforms we use and understand how these changes could affect our campaigns. Google PPC and social media ads, particularly on Facebook, are still major elements in the digital advertising world and deserve a close look.
If your business is looking for some guidance with current marketing efforts or you’re thinking about introducing digital advertising into your strategy, we’re here to help. Feel free to reach out and start a conversation with us. Contact us today to dive in!
