With an ear on the ground, we’re watching the advertising industry navigate the uncertainty of a cookieless future, keep up with the non-existent metaverse, and jump on growing media channels.
Here are some of the hottest conversations happening in the advertising industry this summer.
1. The metaverse: some consumers are ready, others are scared
For agencies and in-house marketers, campaigns won’t be mega metaverse-centric for some time. What we do know, thanks to our trusty data, is what consumers think about the metaverse right now.
Our March 2022 Zeitgeist data shows that 33% of people are very/extremely interested in participating in the metaverse.
On the flip side, only 15% of consumers are not at all interested in participating in the metaverse.
When it comes to what people want to do in it, 51% say watch TV/films, 44% say play games, 43% say browse products, and 41% say watch live events (like concerts).
And what’s holding back those who aren’t really vibing with the metaverse? Well, it’s a mix of things. 40% attribute it to a lack of interest, 39% say they prefer to stay in the real world, and 23% have concerns around personal data/identity theft.
We also know that consumers are twice as likely to say they’re curious online compared to in real life, which means when the time comes for brands, metaverse environments ought to cater to this.
2. Audio ads are on the rise – like, big time
Louder for the people in the back: audio ads are on the rise – like, big time. From Q1 2021 to Q1 2022, the fastest-growing sources of brand discovery were:
- Ads on podcasts (up 14%)
- Ads seen at the cinema (up 12%)
- Ads on music-streaming services (up 11%)
- Ads heard on the radio (up 9%)
All but one of those are audio – which says a lot about the media channel’s growing strength.
The beauty of audio is that it can be enjoyed alongside other media – and quite often, that’s exactly what consumers do. For brands and advertisers alike, there’s a big opportunity here.
3. In-game advertising is a fortress, but there’s a way in
The world of gaming is a goldmine for brands. Around the world, console gamers are 22% more likely to buy brands they’ve seen advertised compared to the average consumer. And unlike other media forms, you’ve got to be paying full attention, so in the attention-recession, consumer engagement is high.
But as many advertisers will know, game developers are incredibly precious about what intrinsic ads sit inside their creations. And rightly so. Gaming is an immersive experience.
Speaking at Advertising Week Europe, Jonathon Troughton, CEO of Frameplay, an intrinsic video game advertising company, tells us how to make it work.
He recommends using distinct imagery, avoiding busy designs, and keeping it simple. Plus, remember that gamers are moving around in the environment, so limiting text is key, as is being playful and authentic to the experience.
4. The cookieless future is wildly unclear. And execs are worried.
Confused about the cookieless future? Well, ‘don’t wait for Google’ is the mantra circling the internet right now, because advertisers around the world are hoping the tech giant will tell us what to do after they disappear. In fact, 71% of agency and brand executives are worried about the cookieless future and don’t know what’s next.
But consumers seem less worried. In fact, they’re craving privacy. Our data shows that 42% of consumers regularly clear their browsing history, 25% regularly use private browsing, and 22% regularly decline cookies. Meanwhile, 20% regularly use a VPN and 32% worry about how companies use their personal data online.
So, what will it mean for brands? Across the board, advertising experts (who aren’t waiting for Google) are already coming up with new and innovative ways to bypass the cookie. For example, buying targeted ads has often relied heavily on third-party cookies, and so now, the future relies on one thing: getting more data. “And the only way to do that is by integrating with third-party syndicated data”, as we discuss in detail.