Media Budget Cuts? Here's What You Should Do

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Announcement Of The Week:

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Noteworthy News of the Week:

Seb Joseph and Ronan Shield write this article?Even digital will feel the pinch as media buyers cut forecasts amid a rising tide of anxiety?on Digiday

Here are my takeaways:

The?Institute for Practitioners in Advertising's latest quarterly Bellwether Report indicates that recession fears are rising fast among marketers.

Around a quarter of companies raised their total marketing expenditure during the second quarter, while 13.4% registered budget cuts. Leading media advertising saw budgets stall, ending a year-long growth, while online and video ad spending growth continued, albeit far less than previous quarters.

Senior marketers are preparing for a recession by reducing spending on offline channels and looking to reduce fees. Both Alphabet and Meta are reportedly starting to pump the brakes.

Actionable Insight:

Media budgets were expected to fluctuate between Q1 and Q2 2022, especially compared to 2021. After a “brief” hold in spend during the pandemic, we are simply coming down the hump.

In some cases, I’ve had conversations with brands and agencies where they’ve shared media spending increased for Q4 2022 and Q1 2023 (because competitors were decreasing).

Programmatic Ninjas, here’s one thing you may want to consider doing now, whether your clients/campaigns are decreasing budgets

Active Planning:

• We usually go through planning phases once or twice, depending on the time of year. Let’s go ahead and practice “active planning,”: which means measuring and tracking beyond our typical KPIs.
• Let’s look at things beyond the platform and through the eye of our clients.
• CPMs, CPAs, and Viewability rates are essential, but so is answering how much new business or how many products were sold for the budget spent? And even take it one step (or three further) to the customer LTV (Customer Lifetime Value)

You might be thinking, “OMG, it is so painful to get through planning, and you want us to do it continuously???”

Valid question. Here’s how you can flip the coin!

My recommendation to actively plan means as you optimize for performance, take the time to analyze beyond your tactic and look at other strategies.

Here’s another recommendation(s):

Break the departmental barrier where social and search is on another planet!

I would also challenge you to share internally regularly and learn from your team’s trials and successes. What works for them may work for your client!

Budgets will always fluctuate, and when they do fluctuate downward, it can become stressful and overwhelming because you will feel like you need to stretch that budget.

Actively planning will help because you are constantly thinking about the overall objective, looking through the eye of the clients, and making data-driven decisions based on your KPIs.

Cheers to leveling up!

Hélène

Your Programmatic Coach

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About Helene Parker Consulting LLC, we offer programmatic media activation training and workshops. Here are some example of?training topics?you could offer your team!

Hiring the ideal programmatic ninja can become daunting these days and this is why we offer talent acquisition services helping amazing programmatic ninjas to find their perfect career opportunity.

If you are a candidate or a hiring manager, feel free to give me a call 757-613-9984 or email me at?[email protected]

Our mission is to help 1,000 individuals with little to no experience in marketing to become programmatic media traders and planner with?The Reach and Frequency? course?(share with a friend or co-worker and offer them 20% off any product with code newsletter20).

We are always looking for a referral or simply happy to chat the latest and greatest so don’t hesitate to?book a call???

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