Given the unprecedented era, top-performing enterprises focus resources on video advertisements to catch more shares of target audiences.
While the previous year saw an abnormal surge around the market for digital advertising, the trend still continues. This shows marketing leaders‘ greater willingness to spend more on online advertisements like never before. In fact, brands paid a considerably higher amount for ad impressions over various social media platforms.
According to Twitter, the advertisers had been paying about 42% more each time a user engaged with an advertisement compared to 2020. In this context, Ned Segal, CFO at Twitter, explained in a tweet – “A return to global events, product launches, and our better ad products all [drove] improved advertiser ROI.”
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Gartner recently indicated that online retail, consumer goods, and financial services are the best three performing industries when it comes to digital advertising. The company analyzed the advertising benchmarks and performances of more than 1100 B2B and B2C brands.
Simply put, this is the scenario across different industries, including financial services, healthcare, consumer products, retail, manufacturing and natural resources, and travel and hospitality. Indeed, the top-performing organizations are agile around their marketing mix.
Gartner’s Digital IQ: Advertising Benchmarks for 2021 report revealed that retail is the top-performing sector in the benchmarks of 2020 and 2021. It is primarily driven by robust and continuous impressions on Facebook, exceptionally high desktop and mobile display scores.
Andrew Frank, distinguished VP analyst of the Gartner for Marketers practice, explains – “They quickly test and adapt their campaigns and publisher placements. Additionally, they are leaders in video and continue to increase investments in the format to take full advantage of the ongoing boom in media consumption.”
Basically, video advertising around social channels like Facebook and YouTube surged since the beginning of the pandemic. To extract the best out of video production cost alongside its resulting assets, marketers have been extending the use of video tools.
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Besides, brands are using more ads for various platforms, advanced devices, and customer journey stages. Despite creating net new ads for every use case, leading companies are reusing parts of single video content to fit different devices, viewing habits, and platforms.
As a result, the industry experts believe brands need to augment their advertising performance overall and keep an active measuring habit. Even the leaders from Gartner recommend that digital marketing chiefs should be considering the following tips –
- Recognize their brands’ performance spanning the digital ecosystem and acquire from leaders in and out of their industry – in order to maintain a competitive edge.
- Brands need to stay updated around privacy changes, along with their impact on advertising and key trends across publishers and platforms.
- Swot the basics of marketing and advertising on major platforms while understanding how to use video content successfully.
- Respond to alterations in advertisement targeting, identify resolution, and the integration of video and TV.
- Strategize for the future of advertising technology, targeting, as well as measurement.
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