2020 was a monumental year not only for society but also for advertisers with major changes in day-to-day lives. Facebook has named 4 key challenges, that advertisers will most likely face in 2021:
Unclear market learnings
Business has been forced to rethink operations and how messaging resonates with their consumers. Due to the rapid changes, it has been difficult to find comparable periods to measure market learnings. Measurement and analysis are essential to drive the right decisions.
Inconsistent consumer engagement
In times of change, people’s viewing- and spending habits can vary. It can be harder for advertisers to get the same attention from their audience.
Decreased marketing spend
Reduced consumer spending in some industries has impacted advertisers, resolving in decreased advertising budgets. Leaving advertisers with the challenge of finding ways to gain the same results for a reduced budget.
Shift in mindshare
A reduced budget would naturally mean, that the brand has been weakened, with fewer views and visits. It’s hard to overemphasize just how important investing and measuring brand growth, in order to keep maintaining and developing your brand is.
MediaGroup can help your company plan to overcome these and other challenges. Get in touch to learn more!