ID Comms: Five Key Opportunities for 2022

Right now media directors across the country are building their plans for 2022 As they power up their spreadsheets and review their negotiation priorities they will need to take into account some challenging issues and opportunitiesBecause by anticipating some of the likely challenges to come they are likely to be better placed to thrive in 2022Top of the list for a smarter approach should beInflation could eat into spending power After seeing record levels of inflation in 2021 2022 spending continues a positive trend seeing doubledigit growth For the US this centers around special events such as Winter Olympics and midterm elections but also bouncebacks of key media categories like CinemaAdvertisers should monitor inflation projections on a regular basis to anticipate any necessary adjustments to their expected prices As well longer lead times and approvals can give agencies flexibility to maximize the budget and secure inventory at optimal timesMeasurement will be key to proving value Measurement has been a hot topic for the past few years but seems to have hit a new high this year The key for the advertiser is how do I get a comprehensive measurement of my impact across disparate sources With the momentum that was generated in 2021 from increased scrutiny of Nielsen and solutions offered by OEMs and other measurement companies 2022 could be a pivotal year in driving measurement forward And what are the KPIs As data and measurement becomes more granular we will see a shift from inputbased KPIs to outcomebasedAdvertisers should review their agency partners39 tools and tech capabilities and crossplatform measurement solutions As well determining the right KPIs that are focused on business outcomes vs inputs as well as putting measurement criteria in place will help advertisers to drive greater valueTackling the talent shortage Advertising and media are not immune to the shortage of talent that we are seeing across other industries A survey of 423 marketers and agency employees by freelancer platform We Are Rosie found that 63 plan to change jobs or careers this year While advertisers are spending again many agencies are faced with challenges in staffing leading to agencies turning down new business pitches or leading to greater burnout within the agency teamsID Comms39 own Paul Stringer wrote a great article in The Drum addressing tangible things advertisers can do to help their agencies through the talent crisis These things include establishing a remuneration model that rewards value generation creating a culture of retention by contributing to a positive rewardingamp160and inclusive working environment and putting talent planning at the center of the agency relationship forming strong relationships with the heads of talentThe power of flexibility will rise Across many industries supply chain issues have made advertisers pivot on their media buys and this is likely to continue Perhaps hardest hit is the auto industry which has seen dealer lots depleted of their normal inventory But it can also translate into unpredictability in what will be on the shelves and it39s never been a winning idea to push people to stores to buy a product that is sold out or unavailableIn 2022 flexibility will be even more important and while advertisers have been pushing for greater flexibility in their buys for years the combined effects of learnings from the pandemic and supply chain issues mean in many cases it will be worth more than gold if there39s any risk of disruptions at the checkoutGreater connectivity will enable smarter connections The new infrastructure bill commits additional dollars to strengthening broadband in rural areas along with carriers strengthening 5G connectivity for similar reasons expect to see a potential continued acceleration of activity within the digital space from previously untapped audiencesThe approach that many advertisers and agencies have been taking recently has been to segment their audiences to the media channels being used amp160ie focusing Linear TV on an older demographic and using digital and CTV to reach a younger demographic that is more elusive in traditional media channels As digital adoption becomes more prevalent across demographics agencies will need to evolve their approach to account for audience changes as they happen As well as more of the spend moves into digital channels to account for these shifts having tracking systems in place to monitor ad fraud brand safety and other factors that are prevalent in the digital spaceThis is an exciting time in media and advertisers have more opportunity than ever at their fingertips With the right guidance advertisers will be able to drive growth through smart and strategic media strategy and operational excellenceClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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ID Comms: Five Key Opportunities for 2022

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