Digital Ad Spend Increases, Political Advertising on CTV & More | Weekly Marketing News

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There has been a lot of marketing news to keep track of this week – so we’ve compiled some of the headlines that caught our eye, which every marketer should be paying attention to in order to stay on top of industry trends.

In digital marketing news, a new survey conducted by the Interactive Advertising Bureau (IAB) discovered that advertising executives expect spending on digital advertising in the U.S. to grow 6% this year, despite an anticipated decline of the overall ad market – as spending on traditional media such as linear TV, out-of-home, and radio are expected to plunge 30%. Marketers are attempting to prioritize high-usage channels like Connected TV and social during the pandemic. Marketers looking to make the most of their budgets for the remainder of the year should observe these trends in order to make the most informed decisions regarding their advertising spend. 

In Connected TV marketing news, political advertisers are starting to take notice of the advantages of incorporating CTV into their strategies. According to Adweek, 63% of political advertisers believe Connected TV is one of the most favorable developments for digital marketing campaigns. As more homebound Americans continue to spend time in front of their CTV devices this year due to safety precautions, marketers across all industries should consider adding this channel to their marketing mix.

Here are the rest of the headlines that have been making waves this week. 

DIGITAL

4 Digital Marketing Hacks That Grow Your Small Business – Business growth needs to be strategic, meaning you need to adopt tactics that will work for your business. Here are four tried and tested ways to actually grow your small business.

Assessing the ecommerce marketing landscape, or what changed in 2020? – The global pandemic has turned the tables on how ecommerce brands do business. While the full impact of COVID-19 is yet to be assessed, some market trends can already be spotted and put to use by ecommerce businesses that want to stay afloat in the slowing economy.

Traditional media suffer as digital ad spend grows in 2020 forecast shows – It’s an understatement to say ad budgets are in flux right now. Some forecasters anticipate budgets to decline for the rest of the year and into 2021, while others see growth. The truth is, there are lots of numbers and none are very precise.

CONNECTED TV & STREAMING

Infographic: Connected TV and Programmatic Are Major Players in Digital Political Marketing – Centro spoke with 65 agencies, consultants and advocacy groups that specialize in political marketing, and experts overwhelmingly stated that programmatic and connected TV are major players in advertising for the upcoming 2020 election cycle.

IAB: US digital ad spend will grow 6% this year amid broader slowdown – Advertising executives expect spending on digital advertising in the U.S. will grow 6% this year, contrasting with an 8% decline for the broader ad market.  

AT&T reportedly considers selling Xandr digital ad business – AT&T is looking to sell its Xandr digital advertising business as the telecommunications giant scales back its effort to build a data-driven sales platform for television. 

TV Manufacturers Seek to Capture a Bigger Share of Streaming Ad Market – The shift to streaming video has created new opportunities for TV manufacturers – even  though ad money has lagged behind growth in consumers’ time spent on streaming services, it is flowing nonetheless.

MOBILE

TikTok widens ad options with new marketing partner program – TikTok this week introduced a program to showcase approved providers of advertising services on its popular social video app.

SMS as an essential component of an omnichannel marketing strategy – Text messaging is considered one of the strongest marketing channels but leveraging it as part of an overall omnichannel strategy makes it even stronger. Compared to email and social media, SMS has significantly higher deliverability and engagement.

A Playbook For Marketing To Latino Millennials – Latinos are not only the second-largest ethnic group in the U.S., they’re also younger than other ethnic groups. Any brand wanting to reach Millennials or Gen Z must position themselves to appeal to Latinos – but often, American-based brands just don’t know how.  

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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