For the second year running, dentsu international has collectively gathered and published the insights and predictions of all its global media agencies into the ultimate 2023 Media Trends guide for marketers worldwide. Drawing on experts and specialists from Carat, dentsu X and iProspect the report launched today explores the biggest media trends to watch out for in the coming year.
With over 35 pages of commentary, dentsu 2023 Media Trends examines ten industry trends which will shape how brands tap into shifting consumer behaviour and have significant implications for future campaigns and budget allocations. The unique report conveniently groups these key 2023 trends within three overarching categories reflecting core themes of Content, Commerce and Community.
Says Sam Cousins, chief strategy officer, iProspect Australia: “Over the past year our personal values and commercial behaviour have become inextricably linked, media is now the access point for pretty much all of our needs creating both unparalleled opportunity for brands, but tighter tension for consumer spend as the economic crunch becomes real. We cannot limit our thinking in how we define, create and activate against audiences that are wrestling what they want, need and can afford. What we do know is this is a very exciting time to solve that challenge.”
Says Danni Wright, chief strategy officer, Carat Australia: “There has never been a more exciting time to be in media. Not only is the canvas that we get to play in getting bigger with a near constant stream of new advertising arenas coming to the fore, the tools in our toolbox are also getting sharper with more avenues for audience addressability and better ways to assess and activate towards quality.
The call for strategic creativity to an unlock an ‘unfair share’ has never been greater but neither has media’s potential to deliver this.”
According to the new dentsu report, the key predictions for the direction of the media industry into 2023 and beyond are:
2023 will bring changes in the content people consume and how they do it. The speed of the shift to digital platforms shows no signs of slowing down especially in the video on demand and gaming sector. The changes in the general economic landscape will lead consumers to evaluate the number of platforms and associated costs linked to subscriptions. The advance of advertising streams may not only provide an alternative to consumers, but it will also provide brands with an opportunity to attract the attention of consumers and capitalise on advertising streams.
#1 AVOD eats SVOD – Ad-funded video platform is set to overtake subscription channels with time, as major streaming platforms are adding ad-funded tiers.
#2 Games Everywhere – Gaming is becoming mainstream. Games are becoming increasingly prominent on content sites to drive repeat users.
#3 Attention Brings Back the Essence of Advertising – Interest in attention is growing as brands look beyond metrics of reach and viewability to assess consumer engagement and make more effective decisions.
Digital commerce continues to evolve, both in importance and diversification of sites, apps and platforms. Consumers are now able to shop at any time from almost anywhere, paving the way for both retail sites and apps expanding their services and offerings to cater for shifting consumer demand and flexibility. The challenge for brands is to engage directly with consumers whilst at the same time planning and adapting for a cookieless future and respecting data privacy.
#1 From Going Shopping to Always Shopping – Consumers can shop anywhere and anytime. As a result, retail sites are evolving to content sites and commerce sites are changing to media sites.
#2 Retail Media Shakes Up Adland – Retail platforms and sites are turning themselves into advertising platforms and becoming attractive propositions for brands due to retailers’ huge wealth of first-party data.
#3 The Rise of the Super Apps – Apps are evolving and continue to build ecosystems offering a wide range of services, to anticipate and cater for user’s needs.
#4 No Way Back for Third-Party Cookies – Brands continue to navigate a cookieless future and advertisers will explore and test the solutions working best for their brands.
Digitalised communities are a mainstay by now. They continue to change and reflect both technological and societal changes. Social media platforms are adopting their algorithms to encourage engagement and within social media the ‘live’ events are spilling over to other platforms forming new communities. Consumers are now able to join global communities aligning with personal views on sustainability and responsibility. Brands should understand the motivations and formation of online communities, to encourage engagement and adaptations to future campaigns to better connect with their chosen audience in the context most befitting the intended message.
#1 ‘Going Live’ goes a long way – Brands and platforms are increasingly using the ‘go live’ functions to build a community to create interest through live events. Not only to bring consumers together, but also to encourage live, active, engagement.
#2 Responsibility takes centre stage – Communities are emerging through a common emphasis on brand responsibility. Platforms are opportunities to share relevant content and increasingly measure impacts of campaigns.
#3 Social algorithms give users what they don’t know they want – It is not about who you follow in as much as what social media platforms want you to see.
Each trend is explored in further detail within the report and concludes with clear suggestions and takeaways for marketers and brands to implement into their plans.
To find out more about the trends and to access a free copy of the dentsu 2023 Media Trends report please visit: https://www.dentsu.com/au/en/reports/change_and_opportunity_2023_media_trends_pdf