Ad campaigns and investment in emerging channels play a major role in elevating a brand and engaging new customers. In a volatile economy and market, successful marketers focus on advertising techniques that simplify buying and measurement, avoid wasted spend and add to the overall customer journey.
Several factors can influence the media and martech decision process:
- The impact on both short- and long-term business objectives (e.g., sales and brand awareness goals)
We conducted two surveys — one of marketing technology leaders and one of U.S. consumers — and discovered deep differences between the two groups’ adoption of emerging channels such as connected TV advertising, in-game advertising, the metaverse, non-fungible tokens (NFTs), streaming audio (including podcasts), and social commerce.
The take-away? Evaluate emerging channels for their impact on long-term branding, short-term performance/sales goals and existing customer journeys and learning paths. One or both of the following frameworks can help you rightsize your digital advertising investment.
Evaluate impact on branding and sales goals.
Being first to act on emerging media channels can create a short-term advantage in brand awareness and sales. But the advantage can be fleeting, which is why it’s essential to evaluate channels in the context of your existing advertising strategy.
In the short term, prioritize channels that your target audience is adopting and where a brand presence can be bought without additional investment, such as in-game or streaming TV via programmatic buying.
In the long term, develop a strategic roadmap of emerging channels’ impact on the business, such as increasing brand awareness, selling digital products and services, and providing customer service. Start with a proof of concept (POC) to test channel-specific advertising campaigns, then gradually take ownership as channels become more strategic.