Robert Jenkyn in PR in Canada-2022 Media Predictions
It is that time of the year to plan your budgets for the next year, but where should your focus be? What type of media? What platform will give brands the biggest return? Our very own CEO Robert Jenkyn spoke to PR in Canada about the changing landscape of media and ask him his predictions for 2022.
How has the pandemic changed media consumption? If so, will it be a permanent change?
With COVID-19, we were all locked up in our homes, either proactively or through mandate. As greater amounts of time spent at home increased the need for entertainment, this translated to a reduction of broadcast TV investments in favor of cable TV and streaming services, driving Digital video and audio to new heights in 2020.
On the other hand, as the amount of people commuting from home to the workplace dropped, OOH and Radio investments were drastically reduced.
The increased number of sensitive topics being shared on social media also redefined the media approach in 2020. Social spend slightly decreased YoY as brand safety measures were reinforced.
This will be a permanent change. While individuals won’t give up their increased consumption of digital media, we are seeing the slow return of some traditional channels. There is opportunity for advertisers is to use radio, print and out of home in creative, strategic ways in order to really stand out.
Sources: eMarketer, Coronavirus Impact: Change in Total Media Ad Spending in Canada, by Media, July 2020-Sep 2020
Mobile has been leading the channel consumers towards for content, will that change in 2022? If so, what will be the next channel that consumers turn too?
The smartphone topped out at 93% penetration of the Canadian market in the first half of 2020. Short of supplying newborn babies with their own mobile device, growth in terms of penetration is about to hit a plateau. That said, we also saw growth in terms of minutes spent with the mobile devices. So, until we hit the 24-hour mark, there is still room for more attention to be given to these mobile devices. And, people are searching for content. Mobile is fast becoming the centre of everyone’s lives for both information and entertainment. While Quibi missed the mark and folded after six months, TikTok has certainly established itself very quickly and has influenced companies like YouTube to jump on board with their “Shorts”. Most mobile devices today can be the entertainment system for the car, the go-to streaming device, even connecting to another screen or speaker. Until we have better wearable or implanted technology, mobile is here to stay.
Social shopping – are we there yet?
Though there is still a reliance on advertiser websites and third-party eCommerce partners, social shopping is more advanced now than it has ever been. Using product feeds, advertisers can create dynamic shopping experiences based on real-time product data. Social platforms like Instagram, Pinterest and Snapchat have rolled out immersive shoppable formats, using Collection Ads and Carousels to create storefront and catalogue-esque experiences. In some cases, they have even utilized Augmented Reality solutions to enable users to try on products using only the camera on their phone. Social platforms also have the ability to personalize your shopping experience, tailoring the products you see based on the ones you’ve engaged with or previously shown interest in. Even TikTok is in the process of rolling out shoppable experiences on its platform, and with Instagram being the first social platform to roll out full in-app purchasing (with likely more to follow), social shopping is only going to become more prevalent.
Facebook (now Meta) has certainly been in the news over the last year – any thoughts/ comments? Facebook owns 4 of the top 10 apps in the app store – what does this mean for media planning, today and tomorrow? Will planners be looking at Meta any different in 2022?
Facebook’s place as the biggest social media platform is not guaranteed. Now, let’s put that in context – their bottom line isn’t suffering despite past and recent bad press. They still have the most Canadians on their platform than any other social media platform. So, why isn’t Facebook’s future guaranteed? They are losing the trust of their users, Canadians included, and they have yet to earn the trust and build cache with the next generation. Furthermore, their re-branding to “Meta” has been viewed by many as admission that the future of the company may not lie with its biggest property, Facebook. They have real questions to answer about how their algorithm may be helping to spread negativity across the globe and Meta feels like diversion at best, given the timing.
Our media planners have been diversifying social media spend for a while. Facebook’s #1 position is being eroded and will continue to decline. Such is the natural order of the social media lifecycle.