What are marketers *actually* spending on?

May 09, 2024 | Read Online

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Prime Video Debuts Shoppable Ads

Amazon’s Prime Video is launching three new interactive, shoppable ad units ahead of the retail giant’s first upfront event next week.

The lineup:

Shoppable Carousel Ads allow viewers to browse brand catalogs and add to their Amazon cart during ad breaks on Prime Video.
Brand Trivia Ads encourage viewers to answer brand questions to unlock rewards/discounts.
Pause Ads show brand messages when viewers hit pause, prompting clicks to "learn more" or purchase.

The Amazon angle: Amazon's research shows interactive product ads drive 10x more views and conversions. And with Prime Video’s 200 million monthly ad-supported viewers to target with Amazon shopper data, that number could grow.

For marketers…the real value-add may be Prime Video's ability to leverage Amazon's first-party data for more targeted, measurable campaigns at scale.

Bigger picture: The launch aligns with Amazon's upfront pitch to blend its retail data and ecommerce capabilities with Prime Video's advertising—a “differentiated combination of reach, first-party signals, and ad tech.”said Alan Moss, VP, Global Ads Sales for Amazon Ads. Unique shopper insights could give Amazon an edge in the streaming ad competition.

Marketing Spending Increases While AI Adoption Lags

The biannual CMO Survey from Deloitte, Duke, and the AMA surveyed 292 U.S. marketing leaders on spend levels, AI usage, sustainability efforts, and more—here’s what they found.

Marketing spend is up: Overall marketing spending increased 2.5% in the past year, and spend is expected to grow a further 4.7% this year.

Important caveat: Digital marketing growth slowed to 8% (down from 8.9% growth last year).
Social media as a percentage of total spending fell by 5% from last fall to this spring, but marketers predict it will surpass its 16% high in the next five years.

But contrary to popular belief…AI isn’t playing a big role in the increased spend. Companies reported using AI for only about 7% of marketing activities so far.

So where are marketers spending? Sustainability. Sustainability or climate change initiatives account for 1.9% of budgets currently—and marketers anticipate that will spike to around 4.5% over the next 5 years.

Airbnb Bets on ‘Icons’ Experiences to Attract New Customers

Airbnb is launching a new global marketing push called "Icons"—expanding beyond vacation rentals by offering unique experiences.

The details: Icons will feature 11 global experiences for free or under $100 to start, including:

Concerts like an intimate Doja Cat show
Celebrity meet & greets
Experiential stays like one that recreates the house from Disney's Up

Some context: The move comes as Airbnb looks to recover engagement after the pandemic. Its TV ad effectiveness has dropped over 200% from 2019 but is expected to rebound this quarter. And it certainly should: The company’s marketing spend increased 16% year-over-year in 2023.

So what’s the value prop? Airbnb is offering these experiences to attract a broader audience and reposition its brand to drive habitual usage. "Icons is a compelling new way to do marketing...and help shift the brand to be more than just a place to stay," said CEO Brian Chesky.

Today From MarketerHire: The ins and outs of 2024 marketing

The marketing industry moves quickly, and it can feel impossible to keep up. So, we did the research for you—and uncovered the ins and outs of 2024.

Some ins…

➝ Hyperpersonalization
➝ One-stop social shopping
➝ Experiential brand activations

And some outs…

➝ One-off influencer campaigns
➝ Greenwashing

Curious how you can apply these trends and strategies to your marketing? We share everything you need to know in this post.

The Raisin Bread Roundup

This new AI startup automatically plans and generates every asset of a marketing campaign from just one prompt.
Spotify is competing for video advertising.
Meta just unveiled new generative AI tools for business advertising.
Pharma advertisers are entering the influencer marketing chat.
As Google’s antitrust trial closes, what can we expect for the future of paid search?

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What are marketers actually spending on?

Prime Video Debuts Shoppable Ads

Marketing Spending Increases While AI Adoption Lags

Airbnb Bets on ‘Icons’ Experiences to Attract New Customers

Today From MarketerHire: The ins and outs of 2024 marketing

The Raisin Bread Roundup

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