Omnichannel Advertising in 2023: Our Predictions
As 2022 draws to a close, we can’t help but think about what lies ahead in 2023. While debate continues over whether or not the economy will enter a full-blown recession, there’s no arguing that media companies will still be looking to bring in ad revenue while keeping operating costs down - a constant regardless of economic conditions.
That’s rarely an easy task, but even in challenging times, opportunities for growth can present themselves. But what might those opportunities look like? To gain some insight on the coming year, we asked four members of our leadership team a single but hardly simple question: What are your predictions for omnichannel advertising in 2023?
Amit Dar, Head of Engineering: “The Internet has had a profound effect on content creation. For decades, TV, radio and big publishers had what might be described as a monopoly over content. Now, individual content creators are creating material on social media channels like TikTok, and amassing huge audiences. What’s interesting to me is that we’re seeing these individuals creating ads, developing ad content that aligns with their brands and the wants and needs of their audiences. This personalization of advertising is shaking up the industry, and it will be interesting to see how it continues to grow over the next year.”
Matthew Robles, VP of Product and Frequence co-founder: “As we enter 2023, I can’t help but think about a quote from Formula One racing legend Ayrton Senna. “You cannot overtake 15 cars in sunny weather–but you can when it’s raining.” In the context of the advertising world, Senna’s message resonates: When conditions are poor, efficiency becomes even more critical. We know that small advertisers can feel the pain of economic downturns more acutely than large organizations–but we also know that small advertisers are incredibly resilient. A smaller operation always has to do more with less, and I think that 2023 will really show the value of streamlining operations and maximizing efficiency through the use of advertising automation platforms like Frequence. I’m optimistic that by using this technology, we’ll not only see smaller advertisers survive, we’ll see them thrive.”
“I have no doubt that digital will continue to be a strong growth driver for media sales organizations in 2023”. - Oliver Jacob
Anna Tavora Enerio, Head of Marketing: “It’s been a hard year; recession may be on the horizon, and many companies have reduced their workforces and slowed their hiring . But we’re also seeing that other sectors - notably hospitality and retail - have not only endured our current period of instability, they’ve actually thrived. As a marketer, I’m optimistic; I believe that in the coming year, industries that have been slow to embrace omnichannel marketing will see its benefits, and will also see the incredible advantages that an advertising automation platform like Frequence can offer. I believe that programmatic advertising is still on an upward trajectory, and 2023 is looking bright.”
Oliver Jacob, President: “Certainly we’re heading into economic headwinds. But even in a down market, digital advertising has continued to grow, albeit at a slower rate than previous years. I expect demand will continue to grow as advertisers become savvier about digital opportunities cross-channel and have no doubt that digital will be a strong growth driver for local media sales organizations in 2023.
The challenge, as others have said, will be to maximize efficiency; the solution will be to embrace technology like ours. And that’s certainly exciting.
But there’s more; for example, what we’re doing with owned-and-operated inventory. In order to have a true omnichannel solution, you need to incorporate both digital tactics and traditional owned-and-operated (O&O) products - cable, broadcast radio, outdoor and print - into the sales and reporting process. Frequence lets users incorporate O&O into the platform, which is an amazing benefit. When you pair that with all of the other efficiencies that Frequence tools offer, from proposal generation to campaign management to reporting, I’m excited to see our partners maximize their revenue while minimizing operational costs.”
The Future of Media Looks Bright
Despite uncertainties, the message is clear: we at Frequence are excited about 2023, and we’re optimistic about the coming year - and beyond. Oliver Jacob sums it up nicely: "Media in 2023 and beyond is coupled with the future of digital advertising. Traditional media, while evolving, is here to stay, and we see Frequence as the platform that coordinates the sale of all types of media."