Are Digital Ad Prices Going Up?
Summer is here and believe it or not, 2023 is just around the corner… so now is the time to start planning your digital ad buys for the rest of the year! Our award-winning digital team shares their tips for making the most of your budget in the ever-changing advertising environment:
• Allocate (more) digital ad budget to partners with no minimum spend and to those who haven’t increased costs. These partners are ideal for organizations to leverage test/learn/optimize strategies with their buys. And don’t summer siesta on Direct-to-Publisher news sites and first-party data partners/ad networks that are keeping costs status-quo to compete.
• Increasing global digital ad costs shouldn’t equal decreased spending. Costs are rising across paid social, search and programmatic platforms due to inflation, increased digital consumption, platform demand and saturation. But that doesn’t mean you should spend less in the U.S. You’ll fall behind those who continue to advertise.
• Optimize for target engagements and deeper actions. If your desired paid platform impressions are more costly, pivot and set campaigns to serve to key audiences who are more likely to engage with, click on or convert (email sign-up, take action, etc.) through your ad.
• Invest in great creative, SEO and measurement. Evolving imagery, video, keywords and analytics will only further optimize your ad results, allowing you to get more for each buck.
• Activate paid social media influencers. In addition to ads, paid influencers remain a great and growing way to pay to play, allowing you to reach followers of trusted spokespeople.
• Plan and secure budgets now for year’s end and 2023. First is the best… Set funds aside in advance so it’s not a last minute C-suite fight for your right to win against competitors at the digital ads party.
Let’s get to work! Email Rachel today.