MARKETING
The Impact of the 2020 Election on Media Buying
We are just shy of 1 year until the 2020 Presidential election is upon us. While that may seem that it is a long way ahead, that day alone will have a significant impact on the way we consume and buy and form of media over the next 12 months, especially for those in the world of advertising.
As we enter the full swing of the election season, the Democratic primary candidates are already splitting the amount of attention, noise and most importantly, available ad space multiple ways. The Trump 2020 campaign is already estimated to be spending more than $700,000 a month on Facebook alone. This is just the beginning. It is projected that candidates in 2020, will spend close to $10 billion over the next 12 months.
While platforms like Twitter and Quora, have taken a stance by prohibiting political ads, channels like Google, Facebook, YouTube, Local TV, and Radio will still be dominated by the political spectrum of ads next year. In fact, since May of 2018, over $121,000,000 has been spent on Google properties alone over the course of the Mid Term elections and Early presidential races.
How does this impact you and your company? All your ads are hyper-targeted to my customers’ needs, right? Well, your customers are voters too and will overlap significantly with multiple segments of audiences. It was estimated by Kantar Media that advertiser share of voice dropped from 71% to 51% during the final stretch of the election cycle in 2016.
Ultimately, what we are going to see is a huge impact on the supply and demand of all and any advertising spots. This will bring with it much higher CPMs, CPCs, & impacts of unique reach. While none of these are ideal situations, the biggest impact brands will need to contend with is the ad fatigue that will set in on the general public.
What can we as advertisers do, to minimize the impact the election cycle has on our brands and clients?
Flexible Planning:
Be prepared to adjust budgets on the fly as the noise and costs increase per channel. This is particularly important for brands who have localized strategies in battleground states or tightly contested down-ballot races are happening. Be aware of the on-goings of the election, especially in your key markets.
Embrace Cross-Channel:
Just because costs go up in one channel, it does not mean that you need to pull back from all branding or prospecting. Use your flexible plan to shift budgets to a less crowded channel. Consistently test each channel and see how the marketplace is adapting and take advantage of ebbs and flows of the auctions.
Get Creative:
With thousands of ads being bombarded to each person on a daily basis, you need to give the consumer something worthy of their attention. Provide content that is lighter in nature and educates them, sparks an interest in a subject, or brings them enjoyment. Your brand is more than a product or a service. Give your customers one less thing they need to make a decision on.
MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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