Advertising Week: An annual whirlwind of innovation and inspiration. It's a time when brands announce new offerings. The biggest names in the industry impart their wisdom. And there are a lot of happy hours.
But what transpires when everyone disperses at the end of this transformative week? What knowledge and trends linger? Hopefully, there were lots of productive meetings and conversations. But what about the industry as a whole? What can we expect for the future of advertising?
In this blog, I dive into some of the larger trends and moments during Advertising Week that will impact the future of the industry.
ICYMI, Taylor Swidft made waves by appearing at multiple NFL games this season, primarily to support Kansas City Chiefs' player Travis Kelce. Her first gametime appearance sparked a remarkable 63% surge in the viewership among women aged 18-49 for that Chiefs-Bears game.
Notably,a slew of brands seized the opportunity this viral moment presented. Heinz capitalized on the “Ketchup and Seemingly Ranch” meme, giving birth to a limited-edition “Ketchup and Seemingly Ranch” dip.
Another brand that swiftly embraced this cultural moment was State Farm. Given Travis Kelce's prior appearances in State Farm's advertising, it was a no-brainer to leverage this viral moment. State Farm's mascot, Jake from State Farm, sat with Donna Kelce, Travis' mother, during the Eagles-Commanders game earlier this fall.
This ingenious collaboration that Ryan Reynolds and his agency Maximum Effort orchestrated came to life within a week. Throughout the game, "Mama Kelce" and Jake sprinkled several Taylor Swift references throughout the game, including swapping friendship bracelets. You can read more about the collaboration in this Marketing Dive article.
Alyson Griffin, State Farm's Head of Marketing, showcased this campaign's success during Advertising Week. It resulted in State Farm's receiving 2.6 billion impressions on social, 92% positive or neutral feelings about the spot, and a 15x increase in search engagement for the brand (Marketing Dive).
At the end of the day, capitalizing on these cultural moments can yield unparalleled success for brands, and Spaceback's platform excels in making this happen quickly. By enabling brands to go from conception to launching creatives programmatically at speed, Spaceback can help keep your advertising content outside of the walled gardens as fresh as your social feed.
A staggering 61% of consumers place their trust in recommendations from content creators on social, in contrast to only 38% for branded social media content (The Social Shepherd). This shift towards authenticity is most pronounced on platforms like TikTok and Instagram Reels.
A standout moment at Advertising Week explored the success of Lilly Pulitzer's rebranding journey, with a focus on the dynamic collaboration with Taryn Delanie, a content creator living in New York. Taryn's contribution went beyond just an ad; she played a pivotal role in revitalizing Lilly Pulitzer while infusing her own distinctive persona, rendering the content not just entertaining, but engaging for audiences.
"The mutual respect was really palpable and really goes a long way," Taryn has said of her working relationship with Eleni McCready, Senior Director of Brand Marketing and Community at Lilly Pulitzer. This mutual respect was the linchpin of their collaborative success.
Taryn's journey hasn't been without challenges. In the past, other brands have hesitated when she tried to push the envelope to incorporate her brand and personality into her content.
However, Lilly took a different approach by encouraging her to stay true to herself and ensure the content fit with her personal brand as much as possible. The outcome was remarkable: A 25% engagement rate on Taryn's sponsored content, a testament to the power of authenticity in collaborations between brands and content creators.
There's no doubt that CTV is buzzworthy in advertising right now. In 2022, CTV ad spend reached a total of $21.2 billion (Statista). That number is expected to double by 2026 (Statista). This data underscores the seismic shift in advertising dollars toward the CTV landscape.
In a recent study with Magna Global and Nexxen that Ruowen Liscio and James Malins discuessed during a session at Advertising Week, 87% of streamers have reported encountering an overwhelming repetition of the same ads, leading to a growing negative perception of the brands running repetitive CTV ads.
Enter Spaceback's Social CTV solution, a game-changer that addresses this issue head-on. Within the Spaceback platform, advertisers have the power to produce multiple CTV creatives from any video on social media effortlessly. This unlocks a variety of already-approved and already-tested creatives that are ready to launch for CTV at no additional cost. With the ability to seamlessly swap out creatives, Spaceback's Social CTV ensures viewers enjoy a more diverse, engaging, and authentic experience during commercial breaks.
Casey Saran in his session at Advertising Week about amplifying social power in the new era of advertising with Spaceback imparted vital insight: "Most brands' best performing content is from social." As a result, Spaceback champions the incorporation of more social experiences beyond the walled gardens of social media, reinforcing its mission to redefine and elevate the future of advertising.
As Advertising Week drew to a close, it became evident that the industry is stronger than ever, with a diverse array of topics leaving an impact on attendees. Conversations delved into the future of AI, the innovative partnerships emerging (looking at you, Taco Bell and DoorDash!), and groundbreaking product developments, exemplified by Netflix's expansion in advertising opportunities. Overall, the week offered a view of the future of the industry, painting a vivid landscape where the boundaries of creativity and technology blur.
As a proud sponsor and active participant in this year's Advertising Week, Spaceback remains committed to harnessing the insights and innovations that took center stage. We're eager for this journey to the future, armed with fresh perspectives and a vision to continue pushing the boundaries of what's possible in advertising.
