INDIANAPOLIS (WISH) — Reports say 2023 will be a year of change, featuring a new crop of digital growth. Marketers and brands are finalizing 2023 plans on the ever-changing landscape.
Nelson Spade, General Manager of Circulus Digital Media, WISH-TV’s full service digital agency and sister company, discussed what’s important for marketers to be ready for in 2023.
“There are a lot of themes and expectations for 2023 going in the New Year. Ad spending shifts are real, and they’re happening. Growth in the retail space as well as the streaming services are really expected to fuel 2023 growth. Gen Z is hitting adulthood and they have different expectations of their online experience and what they expect from advertisers. A lot of stories around the Gen Z audience, if that’s who you’re going after, and Ecommerce. The pandemic really accelerated Ecommerce and it’s continuing to change how people are shopping online,” Spade said.
As retailers invest more in advertising, streaming services are continuing to grow. Spade explained how to make sense of all these changes.
“Growth in 2023 is expected to be fueled by increased digital spend. That category will lead more so than traditional media. That being said, it’s being projected to be led by non-traditional or non-blue bloods. What I mean by that is, the likes of Google, Meta, and Facebook, will certainly have flat to small growth years, but the increase is really expected to newcomers. These are things like what we’re calling retail media, as well as streaming services. These two categories traditionally do not have advertising as the number one or even their number two income source, but they have huge audiences. They’ve amassed a lot of first party data and they have deep pockets to invest in their platforms,” Spade said. “With streaming, you think about things like Netflix and Disney Plus coming to the market with advertising based solutions. This is opportunity for revenue for them, as well as an opportunity for advertisers. On the Ecommerce side, you think about retail media. It’s a big opportunity. Amazon really lead the path here, and kind of cut through the jungle, if you will, for the model. The model is combining a search function with display.”
Circulus Digital Media is the market leader in local advertising. We democratize advanced media for small-to-medium businesses. Our local media solutions and best-in-class suite of advertising products are fueled by industry-leading data providers and ad quality monitoring systems that drive meaningful business results.