Apr 4, 2024
Trends
A threatening mix of macro-trends is swirling above the heads of marketeers over reliant on digital advertising. Conservative estimates suggest marketeers will have to spend 20% more to achieve the same results in the next 3 years.
Attention Saturation
Nearly three-quarters (74%) of consumers feel bombarded with ads. The same percentage feel irritated with adverts and the incursions they place on their time. One in four, meanwhile, find advertising extremely intrusive, while one in two believe it is somewhat disruptive. A shocking 99% of Generation Z consumers have admitted to frequently skipping ads and nearly two-thirds (63%) use ad blockers to avoid online adverts.
Data Privacy Squeeze
Approximately 75% of the global population will have their data regulated by 2024, with two-thirds actively seeking methods to prevent businesses from tracking their information. Consequently, marketers face increasing difficulty in building audiences based on addressable identities.
There is a growing belief that even without these headwinds, the effectiveness of digital advertising has been oversold for years. Airbnb virtually switched off digital advertising in 2021 and has produced its strongest financial performance ever since.
So if we are skipping, ignoring and avoiding ads - where is our attention going? The answer: authentic voices we can really trust. We surveyed UK consumers and found that 43% say they trust bloggers/vloggers ahead of traditional media. These independent creators ranked second behind ‘people I know’1.
The Voice Of Peers
Voice of the fellow consumer more important than ever with 93% trusting the opinions of friends and family when purchasing products or services. Many consumers now start their purchase journeys on youtuber review channels, rather than in google search.
Authentic Ambassadors
Marketing content put out by ambassadors still outperforms ads in terms of engagement by 6 times, despite some the drawbacks and fluctuating opinions (52% or respondents to our survey saying influencer marketing feels forced and insincere)2. The growth of individual led brands such as is testament to the power of engaging content and relatable human voices in marketing.
Brands must unpack the success of content creators have had in capturing the attention of online audiences and embed the modern mechanism for building constant engagement in their marketing processes. Our solution: high-talk value content.
References
[^1] Results from our survey of 500 UK consumers: comprising of 45% 16-25 year olds, 34% 26-50 year olds, and 21% 51+. 53% of the panel are female, and 47% are male. Question: Which online voices do you trust/engage with the most? [multiple-choice]
[^2] Results from our survey of 500 UK consumers: comprising of 45% 16-25 year olds, 34% 26-50 year olds, and 21% 51+. 53% of the panel are female, and 47% are male. Question: What is your impression of influencers/celebrities/ambassadors promoting the products of brands [Likert-Scale]
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