Recession-proof brand budgets » Media in Canada
Economic uncertainty usually signals a tightening of the corporate belt, and with expectations of a looming recession, this may soon be the case.
During the 2008 recession, the overall advertising market shrunk by 13% to 27%, depending on who you talk to. In an economic downturn, brand marketing and advertising budgets are often the first expenses to be cut.
But these savings often produce an undesirable result. As marketers have fewer resources to work with, they feel they must prioritize performance-driven tactics over brand advertising to generate immediate results, inadvertently eroding consumer confidence in the market. process.
Sam Gottfried, head of sales for Quantcast, Canada, recommends a more cautious approach: keep spending with recession-proof advertising and marketing budgets.
“Even going into a recession, brands have to stay stable and make sure they’re in the market,” says Gottfried. “They must remain a priority for consumers because a recession will eventually end and brands will emerge from it as strong as they entered it.”
Since brand identity is the major element of consumer purchasing decisions, jeopardizing it would lead to a significant setback.
He says that with offerings like Quantcast Measure, an AI solution that connects open web signals and connected television (CTV) devices from more than 100 million web and mobile destinations, brands and marketers no longer need to sacrifice performance for direct response goals.
He explains that unifying brand and performance campaigns will expand reach and increase sales through measurable brand advertising in the upper funnel.
Using robust proprietary data, Quantcast has found that running a combination of concurrent campaigns results in better performance, with 45% higher visit rates to client sites and an audience conversion rate of 11%.
And the traditional problem of waiting to receive the results of a brand campaign has been rendered obsolete by the arrival of AI machine learning technology and real-time measurement platforms.
Quantcast Measure provides nuanced, real-time direct insights into digital properties, empowering brands to understand their audience with granular, instant first-party data and providing immediate opportunities to drive business growth.
“We take a lot of that guesswork out,” says Gottfried, noting that Quantcast provides a real-time feedback loop at the click of a slider that lets brands see their lifts, pivot and optimize their campaigns. in an automated way, and to reach the best possible audiences.
“It comes down to the ability to immediately optimize and empower the media,” he adds.
Another quick and easy solution is Brand Lift Live, which offers accurate audiences at scale, easy omnichannel activation, predictable delivery, and real-time actionable insights across the entire customer journey.
A typical example is AutoTrader. The online automotive marketplace turned to Brand Lift Live as it sought to increase new car buyer consideration by introducing an omnichannel branding strategy focused on ROI.
By partnering with Quantcast to launch an upper funnel video campaign focused on increasing consideration and a lower funnel performance campaign to generate buyer leads – a change from previous programmatic investments – AutoTrader was looking for a simpler approach that included a measurable and optimizable video component.
By optimizing auto shoppers who responded “very likely” to buying a car on the AutoTrader platform, Quantcast’s on-demand brand assignment quantified the impact of these new Upper funnel video investments on sales targets, resulting in a 15% increase in auto buyer consideration.
AutoTrader also received real-time access to granular insights to help refine audiences, as well as frequency, creative and messaging metrics during the live campaign to find and reach new audiences.
The on-demand brand attribution validated AutoTrader’s new comprehensive omnichannel strategy, highlighting a 50% increase in conversions when its performance display was complemented with video.
Another factor to consider when looking to recession-proof your brand’s marketing spend is to respond to changing media consumption trends and personalize content accordingly. While YouTube alone has 16 million viewers in Canada and with $534 million in ad dollars going to CTV overall in 2021 (according to Statista), Canadian market demand for CTV and other smart devices continues. to explode.
CTV’s growing popularity translates into a higher share of initial advertising dollars as more inventory is created due to multi-channel distribution.
The AI Audience Planner solution enables brands to understand their audience composition over a 30-day period, as well as receive unduplicated traffic metrics across global web properties and context with real-time demographic and psychographic data. This allows marketers to create better personalized content based on real audience preferences and interests.
“This allows marketers to see exactly what activity is driving ROI,” Gottfried notes.
Quantcast’s solutions make the case for maintaining budgets during an economic downturn, with the Quantcast Platform’s suite of solutions helping brands deliver and remarket their message in a variety of formats.
“We can help clients determine the ideal media mix and the impact of their brand message on performance spend,” says Gottfried.
For more information, contact Sam Gottfried, Quantcast Canada Sales Manager at [email protected]