3 key opportunities for ecommerce and digital marketing in 2022
With the acceleration of digitalization, on top of an influx of more connected consumers and new behaviors due to the Covid-19 pandemic, ecommerce owners and digital marketers have to be more flexible, proactive and omnipresent than ever. Between privacy protection, significant events and new spaces and formats to invest in, we unveil three challenges to turn into opportunities in 2022.
If ad spend increases, relying on this year's one-off events is key to generating even more revenue
Third-party cookies: fewer cookies, more trouble?
When Google announced the phasing-out of third-party cookies from its Chrome browser by late 2023, it felt like a bomb dropped in the digital industry. While this is good news regarding user privacy protection, ecommerce owners and digital marketers face a considerable challenge.
This year, there will be two major phases: a transition phase with the migration of services alongside a reflection phase to find the most effective ways to overcome this change. Regarding solutions, promising alternatives such as prioritizing first-party data and contextual advertising are already being considered to bounce back.
According to a Salesforce study, 60% of consumers intend to do more online shopping after the pandemic than they did before. Due to the upcoming phase-out of third-party cookies and the difficulties involved in monitoring and analyzing this additional activity, ecommerce owners plan to focus more on collecting and studying their own customer data for retargeting purposes.
All in all, an increase in activity, in the volume of customers and in the amount of data to be analyzed, is expected. This means more time will be taken out of the already busy entrepreneurs' schedules. As a result, ecommerce owners will need more clarity, speed and efficiency than ever in managing their business, which the new fintech platforms provide daily via their tools and services, without taking more time or effort.
Meanwhile, according to exclusive data GetApp shared with HubSpot, 44% of marketers predict a need to increase spending by 5-25% to meet the same targets as 2021. More spending means more pressure to succeed. That's where tailor-made financial platforms like Juni come in. With powerful solutions such as a card with a cashback, you can offset this significant increase while gaining the opportunity to make a difference in terms of ROAS.
Significant events, one-off opportunities
If ad spend increases, relying on this year's one-off events is key to generating even more revenue. With major events such as the 2022 Winter Olympics, the 2022 FIFA Men's World Cup and the US mid-term elections, there is no doubt that "2022 represents unique opportunities for continued advertising growth", according to Ben Tatta.
The president of Standard Media Index expects digital to generate most of the gains while highlighting a trifecta: the fast-growing retail media category set to capture a greater share this year, digital audio, and OTT/CTV. And with potential new revenue streams come additional formats and campaigns to consider to cover these additional events and more.
Digital formats, media, channels and platforms
According to research conducted by Magna, digital formats have accounted for more than 60% of total advertising sales worldwide by 2021. Digital advertising sales, i.e. search, social, video, banners and digital audio, have increased by almost one-third.
Not to mention the rise of the entertainment industry, connected TV, video content streaming and video game platforms transforming into ads platforms, while TikTok, whose meteoric rise has been boosted by its ad platform, will be hosting new interactive formats and new Spark Ads this year.
Digital marketers have every interest in exploring and investing in these additional formats, media, channels and platforms to reach the hardest-to-reach audiences, as they contribute to activating all the relevant touchpoints in an increasingly fragmented customer journey and can boost ROI and ROAS.
But managing such diversification can be complex, back-breaking and costly. Without a clear overview and the right tools, time-consuming management of multiple accounts, invoices, transactions and other exhausting administrative tasks can easily pile up and get in the way of success.
A financial companion like Juni simplifies all of this and paves the way to success by providing players in ecommerce and digital marketing with a platform that offers a tailor-made choice of integrations and a centralized overview of all bank accounts, networks and payment services. A companion such as this enables users to save time and get the insights and the knowledge they need to make better decisions.
By using physical and virtual cards with high spend limits and cashback on top of seamless financial services, ecommerce owners and digital marketers can now focus on making the most of the year and scaling, rather than dealing with the hassles and tasks that would otherwise slow them down.
All of this to ensure that the cookie-less world, key events and digital diversification that will mark 2022, will work in their favor and help them unlock the full potential of their online businesses and activities.
Content by The Drum Network member:
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