This week’s Marketoon asks: how data-driven is your media spend?
Fishburne’s take: Media spend is rebounding in 2021 with a continued spending shift from traditional to digital channels. Zenith reported this week that digital ads will make up 58% of total ad spend in 2021, up from 48% in 2019 and 54% in 2020…There’s no one-size-fits-all media plan for every brand. Too often, marketers put the media cart before the strategy horse. Media choices should be driven by the specific goals the marketers are trying to achieve. And the most value often comes from an integrated plan that combines multiple channels.
A marketer’s media spend should follow the audience’s behavior. If more of the target market is streaming, or watching ad-supported OTT programming, then the brand should commit a higher percentage of the budget to that. That said, one of the biggest stories we’re watching is how so-called “traditional” media are transforming digitally on the backend. This makes the planning more data-driven, regardless of whether or not the ad is seen through a digital channel. For instance, the digital transformation of out-of-home provides marketers with better measurement, not to mention access to more premium inventory through programmatic.