Survey of over 600 advertising professionals uncovers most in-demand tech... and a clear concern about how the industry will adopt privacy-friendly identity solutions in a post-cookie environment.
Mediaocean has released its H1 2022 Market Report. The report underscores the biggest issues facing marketers, which include the adoption of emerging identity solutions as well as cross-channel planning and measurement.
The findings indicate that post-cookie identity and cross-channel planning and measurement are the most concerning issues for executives.
The report highlights the key martech innovations that advertisers have needed the most during 2022.
Key findings:
Social continues to see the biggest growth: Almost three quarters (72%) of marketers are planning to grow their budgets for social this year. Respondents see the biggest opportunities for improved execution in social channels with better creative and production tools, resolving social identity across platforms, and better ad performance.
CTV and digital display and video are poised for further growth: 70% of advertisers plan to increase budgets for digital display and video and 60% have plans to grow their budgets for Connected TV.
Confidence in cookieless solutions remain high for the rest of 2022: 60% of marketers are confident in the viability of cookieless solutions, which is close to what we saw in Q4 2021. Additionally, the majority of respondents expect measurements centered on non-cookie methods such as media mix modeling, federated learning methods and panels to be the most impactful technological innovation in advertising in 2022.
Measurement effectiveness is top of mind for advertisers: A quarter (24%) of marketers are concerned about a decline in the ability to measure effectiveness on tech platforms and the open web as their greatest concern for media and marketing, and 16% remain concerned about a lack of preparedness for a cookieless future.
Marketers who responded to the 2022 survey say they are highly focused on restoring a multi-signal view of digital audiences, a view that has noticeably shrunk with the decline of cookies and other identifiers. Despite these challenges, marketers show optimism around the future of new cookieless solutions.
When asked about which marketing technology innovation will be most impactful for advertising in 2022, the largest number of respondents (26%) cited measurements centred on non-cookie methods such as media mix modelling, federated learning methods and panels.
Meanwhile, 22% of respondents believed that improvements in integrated media planning and execution would be most effective.
“2021 was an unpredictable year for marketers, while 2022 has some pent-up demand balanced by economic uncertainty. Our research reflects cautious optimism of industry leaders as they try to adapt to fast-paced technological advances,” said John Nardone, President at Mediaocean. “Our survey found 60% of marketers are confident in the viability of cookieless solutions, which is close to what we saw in Q4 2021. It’s encouraging to see that our respondents maintain a positive outlook moving into the second half of the year.”
“When asked about their largest area of concern with regard to media and marketing, 24% cited a “decline in ability to measure effectiveness on tech platforms and open web” as their biggest fear. 21% referenced “talent retention and access to expertise,” making finding the right people and teams the second biggest worry, while 16% cited “lack of preparedness for a cookieless future.”
Social and CTV budgets earmarked for biggest growth
Other key findings show the advertising industry is continuing its investments in digital channels.
Connected TV is poised for massive growth with 60% increasing their budgets, and 70% of advertisers are increasing budgets for digital display and video.
Meanwhile, social is the fastest overall with 72% planning to grow their budgets this year.
When respondents were asked what the biggest opportunities to improve execution in social channels were, it was a three-way tie among better creative and production tools, resolving social identity across platforms, and better ad performance.
The survey was conducted using TechValidate to gather insights from 600+ leaders at brands, agencies, media providers, and tech companies around the most pressing issues in the advertising industry.
by Robin Langford
Originally published by Performance Marketing World
