Interesting Reads. Industry news you that you may have missed.
Business-to-business (B2B) marketing has changed forever. With traditional ad spending dipping and digital soaring, there are three key tipping points on the near horizon. By 2023, nearly half of the $30.6 billion spent on B2B advertising will be digital, according to eMarketer’s US B2B Advertising Forecast ’21. Additionally, for the first time, more than half of B2B marketers’ digital spend will be focused on phones and tablets versus non-mobile devices (laptops and desktop computers.) And display advertising will surpass search advertising.
Overall, ad spending in the B2B sector fared fairly well during lockdown. It was roughly flat at $22b thanks in part to a second half rally of digital ad spending. This year, total spend is expected to hit $26b. Next year’s tally is pegged at $28.3b and in 2023 spending will surpass $30b.
Twitter CEO Jack Dorsey announced this week that the company will soon ban all political advertisements on the platform globally. That decision provides a stark contrast to Facebook and its CEO Mark Zuckerberg, who has spent recent weeks defending his decision to allow political ads of all kinds on its platform—even ones that contain falsehoods.
“While internet advertising is incredibly powerful and very effective for commercial advertisers, that power brings significant risks to politics, where it can be used to influence votes to affect the lives of millions,” Dorsey wrote in a multi-tweet thread explaining the decision. “Political message reach should be earned, not bought.”
Cheetos is deploying forward-looking technology to give its tie-up with Bad Bunny and Adidas a more exclusive feel, allowing only 100 consumers early access to the capsule collection through the Cheetle iD detector. The brand clearly anticipates high demand for the “extremely limited” merchandise line, speaking to Bad Bunny’s power to draw in fans. The e-commerce activation doubles as phase two of a marketing partnership formed with the global reggaeton star last year through a “Deja tu Huella” campaign.
2020 gave retailers an opportunity to test the staying power of their house brands. As panic-shopping cleared grocery shelves, house brands were snapped up by consumers who were willing to purchase a new, more affordable label.
With the shelves fully restocked and spending levels projected to rise, will consumers continue to purchase house labels over their favorite nationally advertised brands?
In May 2021, we conducted a study of 2,132 consumers and asked them about the value of name brands, private labels and their current purchasing habits. Click into the article to see what was learned.