Ad inflation drives moment marketing boom.
Brands are being forced to rethink their marketing strategies as the battle for consumer attention has pushed up advertising prices, according to a new report from TVTY.
The report shows 9 in 10 brand marketers feel the pinch of rising advertising costs.
Over nine in ten brand-side marketers (93%) say it has become more expensive to gain the same audience attention over the past 12 months, supporting findings from the Harvard Business Review.
1 in 5 forced to cut costs, like staff, while four in five use moment marketing.
To cope with this advertising inflation, one in five are cutting costs like staff (21%), a third are reducing their number of campaigns (32%) while 81% say they have launched moment marketing campaigns.
Entertainment & Media industry has the most sophisticated moment marketers, Consumer Goods the least
Moment marketing campaigns mean brands focus their digital spend around a particular event, or ‘macro moment’, likely to engage their audience. The most common offline macro moment being used are sports events (61%), TV programmes (45%), and financial (22%) data.