What Are Marketers' Top Consumer Trends?
Marketers are shifting their focus toward Connected TV (CTV) and streaming, identifying it as the most important consumer trend for the second half of 2024. According to Mediaocean’s latest study, 56% of respondents cited CTV/streaming as their top priority, surpassing generative AI (55%) and TikTok/social video (47%). As CTV continues to expand its reach beyond traditional TV, advertisers see it as an effective full-funnel solution, particularly as more consumers embrace ad-supported streaming platforms. While generative AI remains a strong trend, its initial buzz has settled into practical implementation, particularly in data analysis (45%) and market research (40%).
Performance-driven paid media remains the top investment priority for marketers, with 69% of respondents ranking it as their most critical media investment. This represents steady growth from 52% in October 2022. Brand advertising has also gained importance, cited by 57% of respondents, up from 36% in October 2022. As a result, brand-building efforts now hold higher importance than measurement and attribution capabilities, highlighting a balanced approach between immediate conversions and long-term brand equity.
While CTV is the dominant trend, actual spending on the channel is seeing a slight decline, with 55% of marketers planning to increase their CTV budgets, down from 60% in the previous survey. In contrast, 66% of respondents expect to increase spending on social media platforms, the highest level of consensus for any platform. Meanwhile, search advertising investment is slowing, with 47% planning to increase spending, compared to 55% in the previous survey. Additionally, first-party data mastery has grown in importance, as marketers recognize its value in a privacy-first digital landscape. When selecting partners, marketers prioritize MRC-accredited measurement and robust reporting capabilities (33%), underscoring the need for accurate performance tracking.
Key Actionable Takeaways:
Prioritize CTV and Streaming Advertising – As CTV adoption expands, integrate it into your omnichannel strategy to maximize brand awareness and conversions.
Balance Performance-Driven and Brand Advertising – While direct-response marketing remains a priority, brand-building efforts are growing in importance—ensure a holistic media mix.
Leverage Generative AI for Marketing Insights – AI adoption is shifting from hype to practical applications like data analysis, market research, and automation.
Invest in Social Video and TikTok Advertising – With social video driving digital ad growth, consider short-form video content as a must-have investment in your media plan.
Prepare for Increased Focus on First-Party Data – With privacy regulations tightening, develop strong first-party data strategies to enhance personalization and campaign effectiveness.
Monitor Shifts in Search Ad Investment – Fewer marketers are increasing search ad budgets, so evaluate whether organic strategies, content marketing, or SEO improvements could supplement paid search.
Optimize Measurement and Attribution Strategies – Marketers now prioritize robust ad verification and MRC-accredited measurement, so refine your ROI tracking methodologies.
Adapt to Consumer Preferences for Ad-Supported Content – With consumers embracing ad-supported streaming, test targeted ad formats, interactive CTV experiences, and personalized messaging.
Align Spending with Evolving Media Trends – Keep an eye on platform spending shifts, particularly as CTV budgets plateau while social video investments surge.
Continuously Test and Refine Your Media Mix – With changing economic conditions, conduct regular media audits to ensure your strategy aligns with current consumer behaviors and ad performance trends.
