Publishers nervous about what advertisers are planning should be heartened by some of the findings in Digital Advertising Trends in 2023, a study released Tuesday by Smartly.io, working with Insights Worldwide Business Research.
Of the brands polled, 60% say they will invest more in digital advertising tools and technology in 2023. And 49% will spend on programmatic advertising in general.
That means there’s money on the table: 41% of the respondents are spending $5 million to $10 million on digital advertising this year, and 27% will budget from $10 million to $20 million. In addition, 22% will spend more than $20 million.
But there are numerous pain points for digital advertisers that publishers should be aware of, including:
Of the companies polled, 37% spend 26% to 49% of their marketing budgets on social media advertising, and 9% budget 50%.
The respondents are spending the most on these single platforms:
The big increases will go to:
Note: only 51% are buying ads on Twitter, versus 71% last year.
Meanwhile, 68% say their digital ad creation involves time-consuming manual processes, and 74% say the same about their campaign delivery.
However, most use automation. Technology to at least some degree. They say:
As for creative, digital advertisers plan to increase their usage of these virtual assets:
When it comes to best practices, 52% always conduct formal testing as part of the creative process. But 42% do it only sometimes and 6% do so rarely.
But advertisers face these challenges (respondents were asked to list their top three):
The WBR Insights research team surveyed 100 respondents from the U.S. and Canada, all at the director or above, including the C-suite.