Let’s see what this week’s numbers say about online advertising, shall we?
- Retail CMOs say their organizations’ top marketing priority is to increase profits, per research rom Wunderkind in partnership with Retail Dive. This focus on the bottom line aligns with the priorities of CEOs in general, who have raised their focus this year on profitability and productivity amid economic uncertainty. As regards advertising, digital ads are failing to meet certain goals, per respondents, although proving effective in other areas. For example, 59% said that digital advertising is not improving customer knowledge and half (50%) said that ads are not increasing brand loyalty. By contrast, just 1 in 8 (13%) reported that digital ads are failing to help reach new audiences.
- According to eMarketer, US digital out-of-home (DOOH) will make up 31.4% of out-of-home (OOH) ad spend this year, showing recovery after a pandemic dip, according to our forecast. US DOOH spend will hit $2.87 billion this year, and we project double-digit growth through the end of our forecast period in 2027.
- Google has reportedly paid refunds to several clients after a report from industry activist Adalytics alleged that it misplaced 80% of video advertisements, sending shockwaves through the industry.