Month: January 2023

The Media Minute 1.25.23

More than 300 media executives from more than 50 countries and territories were surveyed in this year’s “Journalism, Media, and Technology Trends and Predictions” report from The Reuters Institute for the Study of Journalism. And as can be expected, the results should prove enlightening to publishers as they traverse 2023, particularly with an eye toward technology.

It seems like only yesterday that publishers were scrambling to understand the ramifications of the General Data Protection Regulation (GDPR) in the EU and U.K. and the California Consumer Privacy Act (CCPA). A new set of state-specific privacy regulations is scheduled to take effect in 2023.

Starting in 2023, five U.S. states (California, Virginia, Colorado, Connecticut and Utah) will require companies to offer an opt-out on the collection and sale of personal data, as well as targeted advertising. California’s new regulation amends and expands on the requirements of CCPA, while the other four represent an entirely new set of obligations.

Toolkit’s Jack Marshall defines subscriber onboarding as the process through which new customers are initiated into a subscription or membership product. He said: “It’s the experience they’re met with in the moments, hours and weeks after their initial purchase is made.”

Writing in The Fix, David Tvrdon says that if publishers properly welcome new users and subscribers, they will stay longer. Outlining his experience of developing the onboarding journey for new digital subscribers at Slovakia’s Denník SME, Tvrdon has laid out a four step process for creating a successful subscriber onboarding journey.

Email/SMS grew by 5.7% last year, falling far behind CTV (+46.5%), digital video (+17.5%), search (+16.1%) and digital-out-of-home (+15) in growth, according to Outlook for Advertising, Marketing and Data 2023: Clouds on the Horizon?, a report by Winterberry Group.

The Media Minute 1.18.23

“68% expect continued subscription growth, while 80% see subscriptions as the key revenue driver for 2023.”

Reuters Institute for the Study of Journalism have released their latest set of predictions for 2023 which shine a light on some of the biggest trends to monitor in 2023. From a survey of 303 news executives from across the world, we have selected 8 graphs for you need to see.

Marketers may have finally gotten it right. CivicScience January data shows that consumers believe digital ads they see are becoming more relevant, although companies like Apple, Google and Facebook are using less personal data to target ads.

While Apple pretty much “destroyed” user tracking on iOS, according to platforms like Facebook, consumers are reporting otherwise. The number of U.S. adults who say digital ads they see are at least somewhat relevant to them has climbed from 30% to 41% during the past two years.

Every downturn is good for someone. Take TikTok, for instance.

Even as marketers continue to scrape dollars back wherever they can, whether that be from TV or Facebook, they can’t stop pouring money into the short-form video app. And that’s despite some big question marks over whether those ad dollars could be funding growing tensions between the U.S. and China.

The FTX crypto exchange went kaput in November, taking billions in real-world money down with it. It’s a reminder that, despite all the potential around web3 for publishers, there are still a lot of issues to be overcome.

The Media Minute 1.11.23

Only one thing is certain about the business forecast for 2023: uncertainty. From customer behavior to workplace dynamics, an unpredictable environment will likely persist. But marketing leaders can’t afford to ride out the year without a plan.

Recent research sponsored by Grammarly with market intelligence firm IDC explores how organizations are leveraging technology and AI to bear the challenges of the moment. I predict three areas where marketing leaders will lean into AI to uplevel their teams, increase productivity and drive alignment across marketing channels.

After a frantic couple of years, when reader revenue seemed to be the only game in town, 2022 ushered in talk of a subscriptions shakeout. As markets from heated seats to tacos introduced monthly payment offers, the threat of market saturation has become real. And with the cost of living crisis kicking in, concerns have been growing that consumers are starting to consider just which subscriptions they really need.

Micropayments, or a system in which digital readers pay per article, fail to work thanks to a complex web of consumer psychology and macro economics… But, I do wonder (“Oh no,” you’re thinking, “He’s about to offer a new way to do micropayments!”): Perhaps micropayments are a misguided instance of a worthwhile idea. Maybe there are other payment options publishers could be offering readers.

The current economic downturn is creating growth challenges for businesses everywhere. A recent Crunchbase report showed that startup financing dropped across all stages in the second quarter of 2022, declining by27% from Q1 of this year and 25% year over year… To overcome growth stagnation, optimize revenue, and survive a stretch of economic uncertainty, marketers must adopt strategies that shift attention to the right KPIs.

The Media Minute 1.4.23

The digital advertising marketplace may choose smaller publishers and traditional media over big tech. Digital advertising spending declined 1% in November, according to data from Standard Media Index (SMI). This is thought to be the first time that overall spending has fallen in the digital publishing era. The good news is that smaller digital publishers, and even traditional media, could benefit from a weaker concentration of advertising spending with the major platforms.

It remains to be seen when third-party cookies will be fully phased out. But it’s clear that the priority should remain building a solid and flexible first-party data strategy that can withstand constant shifts in privacy and audience accessibility. Publishers who do so will be best positioned to help advertisers fill the gap between privacy and personalization while uncovering new monetization opportunities. The Seller-Defined Audiences strategy is emerging as a way to reinforce the connection between publishers, advertisers, and the consumer.

As brands look to associate themselves with engaging and reliable content, publishers are meeting advertisers’ needs by increasingly leveraging audio and video as storytelling and monetization tools. Not only do audio and video attract the younger users that advertisers seek, but these formats also allow brands to run more emotionally resonant campaigns than other ad choices offered by digital publishers.

Public relations can help B2B firms establish their brands. But 43% do not use editorial coverage as a sales enablement tool — at least in the UK, according to new research from Champion Communications conducted by Vanson Bourne.

Yet B2B marketers say that public relations is responsible for 74% of all new business opportunities, and 41% say that 80% or more of their marketing-qualified leads came through PR, with the average response at 74%.