In spite of the economic downturn, it’s possible to maximize online ad campaign results in 2023, in case you’re working with the right ad formats. Here are some of them you might consider.
Even though most analysts admit 2023 isn’t likely to be an easy year for the online tech industry, the digital video ad spending projections, for example, remain optimistic. Namely, according to Statista, the volume of video ad spend only in the U.S. will exceed 78,000,000,000 USD, in 2023, and the global numbers are expected to grow even higher, accordingly.
However, consumers’ growing fatigue from news content, combined with their lower purchasing power, in addition to the overall turbulence across the digital tech ecosystem may leave marketers wondering how to maximize return on investment in their advertising campaigns without overspending their budgets.
Well, here are some of the most efficient online ad formats, worth paying your attention to in 2023.
Embrace Extensive Online Viewability with Sticky Video Ad Variations
While outstream video ads are nothing new, and have, in fact, become the new norm in online advertising, many businesses have been missing out on some of the most viewable and engaging video ad units in this niche – i.e. Sticky video ad variations.
While you must have heard of a so-to-speak classic Sticky ad, which implies a video ad player starts the display of ad content in the InPage/InBanner ad unit, then “sticks” to the visible screen area on page scroll (hence the format name), 2023 is just the right time to explore the benefits of the easy-to-configure format variations, whose performance specs enable maximizing the ad viewability without an extra hassle.
A so-called “Reverse Sticky” ad, for instance, implies the ad player actually starts as Sticky, then changes to InPage or InBanner, when the ad placement gets into the viewable area. This enables attracting readers’ attention in the first seconds, and if not, make sort of another attempt, – in the ad placement, integrated within the editorial content.
Meanwhile, a “Flexible Sticky” ad variation implies the complete Sticky player switch-off right upon ad content display, which helps keep viewers’ experience with the main website content more comfortable.
Tip! Consider A/B testing one or several Sticky ad variations on several premium editorial placements to figure out specific audience preferences, then adjust further campaign settings, based on obtained results.
Reach Younger Audience with Social Audio Ads
Unlike the conventional social video advertising units, which have gained traction over the past few years, particularly in Instagram and TikTok, utilizing social audio ads may come out as a potentially efficient, and in some ways even more lucrative strategy in 2023 (worth adding to your marketing strategy calendar), than other emerging strategies like micro marketing. While the average audio CPM is comparatively lower, than in case with video, the potential engagement rate doesn’t seem so.
According to Google’s data, for instance, beta audio campaigns on YouTube resulted in both the ad recall and brand awareness lift in 80%+ of measured ad data.
Of course, the fast ascend, then decline of Clubhouse and the gradual decrease of podcast popularity in recent months can seemingly discourage marketing professionals from experimenting with social audio in the times of the downturn. Yet, the reality is not as gloomy as it may seem.
In fact, the recent big tech platforms’ strategic moves (e.g. Google’s expansion of availability of social audio ads to all advertisers on YouTube, with specific capabilities to target podcasts listeners, for example) demonstrates this ad niche upholds significant potential in terms of brand outreach.
The trick is, it’s the social audio, which can bring just the right amount of interactivity and personal connection to listeners, whose large share are Gen Z’ers, and those represent a substantial buying power, like it or not.
Tip! If you wish to reach the relatively younger audience, and, particularly, if your key marketing goal is to uplift brand awareness/outreach, consider adding social audio to the list of your online advertising activities in addition to branded video content in H2 2023.