Although 2020 has been a very challenging year for many sectors, the future is bright for companies who are willing to reshape their organization and who are not afraid of taking initiatives on the road to digital transformation.
Ad market in 2021:
After the events of 2020, a $63bn cut from the global advertising economy, ad investment is forecast to rise by 6.7% in 2021.
According to a WARC survey, firms are ready to increase their ad investments on digital channels especially on online videos and social media. However, the budgets dedicated to traditional media channels such as television, radio, and print will most likely be decreased.
The important thing to remember is a well-balanced media mix for marketers willing to generate satisfying ROIs. The importance of traditional media is still undeniable, but in today’s world, traditional media channels should find their right place in the omnichannel marketing strategy of firms.
It’s not going to be easy to recover from this pandemic, but there is still some good news!
Recovery is expected across all product categories during 2021 especially telecoms & utilities, media & publishing, and business & industrial will top their 2019 outlay. Ad investment will grow by 10,2% in Europe, by 8,5% in the Asia Pacific, and by 7% in the Middle East. Ad investment growth in these areas is higher than the global average investment growth rate which is estimated to be 6,7%.
Although in the USA the growth rate of ad investment estimated for 2021 is 3,8%, the country is still on top of the list of ad markets by purchasing power parity value followed by China, Japan, and the UK.
Ready to monetize big data for marketing?
In near future, in other words in a cookie-less world, firms’ need to benefit from their first party data collection is increasing. This development continues to break the mould in the global advertising economy. A firm’s conversions are depending more and more on its own & nurtured data.
2021, the new era of data-driven marketing, provides organizations a great opportunity to utilize their first party data collection by its increasing ad-investment tendency. Brands should immediately start adopting a sound data strategy, by keeping in mind this upcoming cookie apocalypse and by connecting online & offline data sets in order to increase and to insure their advertising & marketing ROI for the years ahead.
As Labrys, we help customers benefit from a sound data-driven marketing strategy. Contact us now to uncover your potential.