Ten Advertising Trends Brands Need to Heed

OUTFRONTamp8217s Advertising Trends Report is back and fully updated for the second half of 2024 featuring over 40 pages of insights into consumers media and OOH You can access the Mid 2024 Advertising Trends Report now for the full lowdown or continue reading for the ten biggest trends identified in the reportTop Consumer Trend Adjusting for InflationAt the top of most consumersamp8217 minds Rising household costs in core categories like CPG housing and energy 94 are concerned about food costs while 64 expect groceries to be more expensive next month SOURCE Pew ResearchOne way three in ten consumers are responding is by trading down to less expensive alternatives which creates an opportunity for value brands and retailers with their own inhouse lines Out of home advertising amp8211 especially in the form of retail media networks amp8211 can put those brands on the radar for budgetconscious consumers SOURCE DeloitteTop Consumer Trend Prioritizing ExperienceOUT is where itamp8217s at While Americans are tightening belts across the board some categories are more resilient than others More than half of consumers say they now prioritize spending on experiences over physical goods SOURCE Paysafe Consequentially travel dining out and live events are the categories where the tradedowntosplurge ratio was the strongestAnd spending on experience we are The average vacation cost last year rose to an alltime high of 2830 SOURCE Allianz and Live Nation had its biggest year ever selling a billion dollarsamp8217 worth of Taylor Swift tickets alone and 233B overall SOURCES Live Nation PollstarTop Consumer Trend Embracing NostalgiaEverything old is new again with a little film you may have heard of called Barbie ruling the box office for 2023 Who will reign supreme this year Chances are itamp8217s someone we already know Hereamp8217s a statistic since 2016 out of the top 60 box office performers only five were original titles amp8211 the rest were sequels prequels and remakes SOURCE Yahoo FinanceWhat can we say Consumers know what we like and we want more of it The way nostalgia evokes happiness 53 and comfort 40 in consumers primes them to purchase amp8211 52 say nostalgia makes such a purchase more likely SOURCES GWI Civic ScienceTop Media Trend The Enshittification of OnlineOnline advertising has become more unpleasant for consumers and less effective for brands Intrusive disruptive user experiences donamp8217t prime people to buy amp8211 which is why 50 of marketers say digital ads donamp8217t improve brand loyalty and 44 say they donamp8217t even improve sales SOURCE Wunderkind Maybe that lack of real impact is why digital ad fraud is expected to cost advertisers 71 billion this year SOURCE LunioThereamp8217s a structural explanation for this decline one that writer Cory Doctorow summed up in one word enshittification You may not have heard the term but youamp8217ve certainly experienced it Think about how when you got on your favorite social network your feed was full of your friends and family Then it was less friend stuff more brand content but they were brands you followed Gradually that organic content was replaced by paid advertising from those brands Then it was ads from brands you donamp8217t follow and eventually ads for things you werenamp8217t even interested in decreasing your enjoyment of the platform Over time you clicked on fewer of the ads and eventually engaged with the site less which in turn advertisers werenamp8217t thrilled withThis race to the bottom seems to be an unfortunate natural progression as we see it repeat over and over again social networks first center users then center advertisers at the expense of users and finally they center themselves at the expense of both Fortunately this trend does not apply to out of homeTop Media Trend Linear TV TuneOutCord cutting continues to blunt TVamp8217s linear impact as 56 of consumers now say streaming is their preferred means of watching SOURCE LG Ad Solutions The decline is accompanied by rising costs Linear upfront eCPMs rose by 12 while yearoveryear television viewership declined 4 for broadcast and 10 for cable SOURCES Nielsen Guideline SolutionsLive sports are the last things that keep linear TV hanging on although even there streaming has made inroads as events like NFL games and WWE Raw migrate to platforms like Amazon Prime and NetflixAs such marketers are changing the channel too televisionamp8217s ranking dropping from thirdmostpreferred last year to 12th for 2024 SOURCE NielsenTop Media Trend Brand ActivationsFew marketing tactics excite consumers quite like brand activations and smart brands are taking full advantage Bringing fans into the world of a brand theyamp8217re more than just an excuse to get out into the public amp8211 theyamp8217re critical to business success for 90 of marketers SOURCE AnyroadBrand activations make a powerful impact with 77 reporting increased trust after an activation and 72 retaining the positive perceptions the brand made at the activation for at least a month after SOURCE Freeman The end result is triple the word of mouth compared to brands that donamp8217t activate SOURCE G2And by definition brand activations can only happen out of homeTop OOH Trend DOOH Does It BetterDigital out of home is hot right now and for good reason it drives action At 49 its overall likelihood of driving action is higher than TVstreaming social media onlineweb radiopodcast and print advertisingAnd that impact can be felt on and off consumersamp8217 mobile devices Digital out of home drives online searches 44 website visits 38 and social media visits 30 as its top digital activations Outside what we do on the doomscroll machine DOOH is driving us to watch TV shows 38 visit restaurants 36 and make instore purchasesDigital transit is even more impactful driving 85 of viewers to action 65 notice digital transit ads en route to instore purchases 43 say that transit ads impact those purchases SOURCE The Harris PollBottom line It doesnamp8217t matter what type of action youamp8217re trying to drive digital out of home inspires itTop OOH Trend Full Funnel ImpactIt can be easy to fall into the trap of thinking of out of home as a medium that only builds brand awareness amp8211 after all it is really good at that But the fact is that out of home makes an impact all the way down the conversion funnelOut of home can influence the entire buyeramp8217s journey More than two in three campaigns resulted in lifted awareness consideration intent or foot traffic SOURCE Vistar MediaThat impact doesnamp8217t stop at the point of purchase either 38 of marketing executives said that billboards influence existing customers 28 said they increase retention and 27 said they increase loyalty SOURCE Journal of Advertising ResearchTop OOH Trend Viral 3D BillboardsYouamp8217ve likely seen dimensional OOH creative aka 3D billboards on your social media feed but you might not realize how impactful they are Consumers are overwhelmingly interested in the ads 72 SOURCE The Harris Poll likely to record them 55 and likely to share via social media 58 Even better 68 view brands using the technology as more premium and 66 are more likely to buy the product advertised SOURCE MFourSomething else you might not know 3D creative is no longer limited to billboards Our XScape dimensional creative advanced capability allows advertisers to execute 3D in largeformat anamorphic or smallformat spatial including transit media like Liveboards and Video Urban PanelsTop OOH Trend Retail Media NetworksFor CPG brands retail media networks are the single most important element of their media plans SOURCE Skai The literal last mile of the customer journey is a powerful place to be with RMNs promising outcomes like better customer understanding stronger retailer relationships better shopping experience and most importantly that presence as close as possible to the point of purchaseAnd while instore media may be the last RMN ad consumers see before buying 60 of RMN advertisers also include offsite OOH assets in their plans SOURCE SkaiThose are the top consumer media and OOH trends for advertisers to keep in mind as we come down the homestretch of the year Want more insights Our full Mid 2024 Advertising Trends Report is over 40 pages long and itamp8217s freePosted at MediaVillage through the Thought Leadership selfpublishing platformClick 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 MediaVillageorgMyersBizNet

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Ten Advertising Trends Brands Need to Heed

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Jay Fenster

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

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