Navigating the Evolving Online Advertising Landscape in 2017
2017 marked a transformative period in the online advertising market, characterized by increasing competition and sophistication from both advertisers and platforms. Understanding these changes and adapting strategies accordingly has become more critical than ever for brands looking to effectively reach their target audience.
Platform Dynamics and Competition
The online advertising market in 2017 was more cluttered with noise than ever before. There was a noticeable influx in the number of advertisers, alongside numerous new advertising platforms. Established giants such as Google's AdWords and Facebook remained key players, each striving to maintain their competitive edge through continuous innovation. AdWords launched multiple new betas, seeking to keep up with Facebook's rapid advancements. However, Facebook's user-based marketing approach, which revolves around user activity rather than cookies, provided it with a significant advantage.
Meanwhile, data-driven marketing techniques were starting to fulfill their long-promised potential. Facebook's new pixel was increasingly impressive in its ability to use data to drive conversions. By leveraging all available customer information, advertisers could achieve more focused and segmented remarketing strategies.
Native Advertising and Its Evolution
Native advertising, which was criticized for its clickbait and low-quality content, showed signs of improvement in 2017. Major players like Outbrain began to recognize the need for better targeting to ensure both user longevity and advertiser satisfaction. Their new lookalike beta demonstrated that they were ready to compete with the top platforms.
The Rise of Video Advertising
The role of video in online advertising became increasingly essential in 2017. Platforms like Facebook, YouTube, and even SEO-related video techniques emerged as crucial components of the marketing mix. Video’s ability to communicate and acquire new audiences made it a must-have strategy for brands looking to engage potential customers effectively.
The Mobile Revolution Continues
While desktop remained a superior converter, 2017 saw mobile's role in online advertising grow significantly. Traditional advertisers needed to diversify their strategies to include mobile-friendly options. Facebook's lead ads were improving, and better attribution modeling to attribute success to mobile campaigns became essential.
Other mobile-specific features, such as Messenger and one-click purchasing, further enhanced the mobile experience for advertisers. As a result, brands were increasingly compelled to invest in mobile advertising to capitalize on this growing segment.
Ad Campaign Strategies for 2017
As an experienced advertising professional, my approach would have shifted significantly in 2017. If I were managing a brick-and-mortar business's ad campaign, I would prioritize local sites. These sites, which are often tied to traditional media such as radio, newspapers, and TV, still provide a degree of trust that digital-only networks lack.
This strategy would involve reallocation of at least 50% of the budget to traditional advertising. The remaining budget could be allocated to local digital ads for branding and/or promotional offers like coupons. Traditional media would be used to drive both foot traffic and web traffic, while digital ads would focus on building brand awareness or offering targeted discounts.
Challenges and Future Outlook
Initially, advertisers were promised extensive reach and potential from online advertising. However, it became evident that many social media networks had a large number of inactive or fake accounts, which undermined the effectiveness of ad campaigns. Old-school advertisers often struggled to predict revenue from page views due to a lack of clear ROI.
As a result, paid ad revenues faced a significant decline, and this trend was expected to continue until new techniques could be developed to ensure advertisers received the exposure they were promised. The future of online advertising in 2017 and beyond will be determined by the ability of platforms to address these challenges and offer more transparent and effective marketing solutions.