Scarcity Mindset Strategies, Streaming View Time Jump, & More | Weekly Marketing News

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If you work in the world of marketing, you know that it can be difficult to stay on top of the industry news that’s released every week. To make it easier to see it all in one place, we created this roundup of the top headlines. 

In digital marketing news, consumers have begun to adjust their behavior in the wake of a possible recession. As a result, many of them have entered a state called a “scarcity mindset,” where they are more likely to avoid spending money or switching to new brands. Adweek has some recommendations for how brands can avoid the pitfalls of advertising during times like these, using mindful messaging and careful pricing. Brands should be aware that during times of economic turbulence, negative advertisements and shock value have compounding effects that will be unlikely to drive a consumer to make a purchase. Instead, marketers should be focusing their advertisements around positive messaging which will cut through any dark clouds consumers are encountering on a daily basis. For the rest of Adweek’s recommendations, check out the article here. 

And in Connected TV news, streaming TV viewing time has surpassed cable for the first time. A new report from Nielsen has revealed that American viewers spent 34.8% of their time on streaming platforms in July—more than 190 billion minutes. This was more than 3% higher than streaming numbers in June, and a year-over-year increase of 22.6%. Cable TV, on the other hand, dropped to 34.4% of total viewing time among American consumers. Nielsen attributes part of this transition to the extremely successful season 4 of Netflix’s Stranger Things show, which saw 18 billion minutes of streaming time in the month of July.

For the rest of the articles that caught our attention this week, check out the list below. 

DIGITAL

Turn Performance Marketing Into Performance Branding – You may be among the millions of people who have read The Five Love Languages, a 1992 self-help book by Gary Chapman. This is a story of the sixth language, one especially for business-to-business marketers and branding specialists: Data. 

Futureproof Your Brand with Creator Marketing – GDPR. CCPA. The era of third-party ad targeting is coming to an end. Digital advertising is getting a makeover, and cutting out cookies is how they’re trimming the fat.

As Consumers Enter a ‘Scarcity Mindset,’ Address Negativity Head-On – Consumers have no doubt: We are already in a recession. If you are in marketing, what consumers believe trumps economic data. Once consumers believe something to be true, they change. This has major implications for marketing strategy. 

Inflation Is Schooling Back-to-School Shopping Budgets – As kids soak up the final days of summer sun and prepare to return to their studies, class is already in session for parents looking to save money on their back-to-school spending as inflation concerns loom. 

CONNECTED TV & STREAMING 

Connected TV Ecosystem Holds the Potential of Greater Return for Eager Advertisers – As viewership trends shifted towards consumers discovering their new favorite programming via free ad-supported CTV apps, advertisers are quickly taking notice.

TV Ad Budgets Remain Strong despite Economic Uncertainty—for Now – Between reports of ad revenue growth among some of the major networks, as well as ad budgets that multiple agencies tell Ad Age have remained relatively stable, the state of TV advertising is far from grim. 

If You Want to Navigate the New TV Landscape, Start by Shifting Your Mindset – The ability to target, measure and assess campaign ROI with Connected TV (CTV) is raising the bar for all video ad campaigns, driving advertisers to invest heavily in the platform. 

How Leading Brands and Agencies Are Approaching CTV Measurement, Media, and Creative in 2022 – Over the past year, CTV has solidified its position as a go-to option in the omnichannel marketing mix. Advertisers are no longer approaching CTV as an additional or supplemental way to boost brand awareness and complement traditional advertising channels.

Nielsen Says Streaming TV Surpasses Cable Viewing for the First Time – Streaming has finally taken the highest share of TV-watching eyeballs, according to Nielsen’s July viewership report—thanks in large part to 18 billion minutes of “Stranger Things” consumption on Netflix during the month.

Paramount and Walmart Join Forces on Streaming Bundle – Retail giant Walmart is taking advantage of the streaming space, announcing Monday it will include Paramount+’s ad-supported plan within its premium membership offering.

What Should Performance Marketers Know Before Testing CTV? – Now that over 80% of households have at least one CTV device, performance marketers should recognize the opportunity in front of them, and launch tests that help them determine whether or not CTV could be a viable growth lever and revenue driver for their businesses.

MOBILE

TikTok Unveils Shopping Ads Suite of 3 Commerce Products – TikTok introduced its newest suite of commerce products, Shopping Ads, with the aim of enabling brands to easily build engaging consumer experiences that make shopping exciting and entertaining. 

How Mobile Apps Are Changing iGaming – As in most business verticals, the mobile share in iGaming has done nothing but grow over the past few years, driven by the massification of smartphones.

WE’LL KEEP YOU UP-TO-DATE

That’s it for the roundup this week—next week we’ll be back with another list of what’s making news in marketing.

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