The AdNews end of year Perspectives, looking back at 2023 and forward to next year.
As year-end approaches, I love to look back on all the media noise and cut through to the nitty gritty. 2023 was definitely the year of social media - in terms of noise (good and bad)
Twitter rebranded to X in the space of 24 hours and rolled out 2 subscriptions models (1 for verification and soon another subscription for posting content ~$1 per year).
Meta followed suit announcing 2 subscriptions models, a charge for verification and also announcing an “ad free version” costing users ~$14 per month.
On top of this Meta launched Threads - which technically grew faster than Tiktok and any other social media platform EVER.
We saw a huge decline in Facebook dwell time as users shift to TikTok, and the growth of Spotify as audio continues to be the fastest growing medium over video.
And we can’t forget Google pushing advertisers from manual optimisation to automatic bidding to chew up spend and the huge decline in the effectiveness of my exact styles of bidding.
But above all, in this fragmented market the opportunity in 2024 lies within the mobile space. In Australia alone there are more mobile phones than people. Publishers from NewsCorp to Fairfax to Foxtel and Kayo are taking a “mobile first” approach - and we know social media platforms are predominantly mobile traffic as it is.
As marketers try to reach people no matter where they are and what they are doing, I predict mobile first marketing will gain traction again. And it’s already happening with some brands seeing 60-70% of traffic from a mobile device. The differential will be understanding when mobile is a 2nd screen vs a 1st screen.
This creates huge opportunity for media players with a strong mobile background who can build an effective media plan that focuses on audience and device.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
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