The UK is facing a very challenging 2023 economically, as consumer spending power and marketing budgets shrink. With that, prioritising programmatic efficiency is more important than ever.
The programmatic industry was able to pivot quickly during the pandemic, as consumers spent more time at home watching video than ever before. Connected TV (CTV) advertising skyrocketed and fueled growth across the industry, generating new innovation and standards like OpenRTB 2.6 to bolster trust in the supply chain.
This trend has only continued, and doubling down on those innovations to make CTV advertising work for media buyers and owners will be key this year. Not only will it provide new sources of funding for broadcasters, it will also open up new ad-funded options so that cash-strapped consumers can continue accessing the programmes they love.
From more efficiency through closer partnerships, to developing new CTV standards, collaboration across the industry will be key in accelerating this transformation. To help discover ways to further such collaboration, I sat down with Faisal Karmali, senior director, international business operations at Warner Bros. Discovery, and James Trott, head of product and strategy, UK&IE at Matterkind, in our recent webinar.
The top three trends in UK digital advertising in 2023
1. Media owners and buyers will utilise programmatic efficiency and reach this year to help weather the recession
The unique ability of programmatic to build and activate marketing campaigns at short notice will be highly beneficial to media buyers during the continued economic and political uncertainty of the year to come. Additionally, we will see continued emphasis on building campaigns that can promise efficiency, while effectively reaching preferred consumers.
The more programmatic efficiency we can provide, the more confidence media buyers will have in achieving maximum reach on their marketing budgets through programmatic. This efficiency will also mean that more spend will reach media owners.
2. As the CTV landscape changes dramatically, it presents a chance to build programmatic from scratch
CTV continues to be an exciting channel for media owners and buyers alike. As a growing majority of UK consumers move over to watching CTV, agencies will play a key role in helping their brands move their budgets traditionally reserved for linear TV to premium CTV.
This huge shift promises to transform not only television, but digital advertising overall as the industry builds a CTV experience that combines TV’s reach with the best of programmatic, like addressability and precise measurement.
3. Collaboration will fuel growth across the industry
Across the different challenges and opportunities that we discussed, a common theme emerged: by working together, we can grow together.
From areas like guaranteed outcomes for customers to defining the right integrations that will work with partners, the true scope and value of programmatic is only possible through close partnerships across the industry.
It was that eagerness for collaboration that gave the discussion such a positive spin, despite the looming challenges in the UK. It’s only by working together that we can find the truly workable solutions for partners across the industry–and it’s this collaboration that will make the industry stronger in the long term.
Learn more about how collaboration and innovation will improve programmatic efficiency across channels in 2023.Back to blog