- Digital display advertising is continuously evolving. So, what is on top of the minds of enterprise marketers when it comes to executing this form of advertising?
- Check the findings from OMI and Ascend2’s latest study.
The digital display advertising landscape is continuously evolving due to factors like changing customer preferences and behavior and new technologies. So, when it comes to executing digital display advertising strategies today, what is on top of the minds of enterprise marketers? To find the answers, OMI and Ascend2 recently conducted a study. The following are a few insights from the study.
Digital Display Advertising Can Be Effective
Digital display advertising can drive significant conversions and sales with the right strategy and data. About 33% of enterprise marketers felt that their digital display advertising was extremely effective in achieving it. Another 61% reported their strategies being somewhat effective. Only 6% felt their display advertising was ineffective.
So, what formats of display advertising do enterprise marketers use? About 70% of respondents said they use banner ads, and 69% reported using video ads as part of their display advertising strategy. About 45% and 32% used pop-up and native ads, respectively. Interstitial ads are less common, with only 20% using them.
Display ad formats enterprise marketers commonly use
Source: Digital Display Advertising from the Enterprise Perspective
See more: 96% of Advertisers Are Satisfied With ROI of their OOH Marketing Campaigns
Measuring Accurate ROI Is a Major Challenge
Display advertising can be effective. However, many enterprise marketers face challenges. According to the study, measuring accurate ROI and performance metrics was the top challenge, with 42% citing it. About 41% said finding the right target audience was a significant challenge. Budget constraints for effective campaigns were a major challenge for 30%, while ad placement and contextual relevance were challenging for 29% of respondents. For 18% of enterprise marketers, ad fraud and invalid traffic were major challenges. Interestingly, ad blockers were a significant challenge for only 27% of respondents.
The most significant challenges regarding display advertising
Source: Digital Display Advertising from the Enterprise Perspective
Considering measuring performance as the most significant reported strategic challenge, how are enterprise marketers measuring their display campaigns’ success? Some of the most common metrics they use are click-through rate (55%), engagement metrics like shares and comments (54%), and conversion rates (54%). Other metrics include return on ad spend (44%) and view-through conversions (28%).
Cross-Channel Integration and Programmatic Advertising Improve Effectiveness
About 88% of enterprise marketers said their display advertising efforts are integrated with other marketing channels to improve campaign performance. About 36% of respondents reported extensive integration, and 52% reported integration to some extent.
Besides this, programmatic advertising automation and algorithms continue to evolve, presenting tremendous opportunities for companies to reach their target audiences more effectively. However, only 24% of enterprise marketers reported using programmatic advertising extensively. About 52% reported using it to some extent. About 13% were still planning to implement it, while 11% had no plans to do so.
Digital Ad Fraud and Bots Are a Major Concern
About 84% of respondents reported concern about digital ad fraud or bots, which would waste advertising spend or impact their ROI. While 61% said they were somewhat concerned, 23% were very concerned. Only 14% said they weren’t worried about ad fraud, while 2% were unsure.
Transparency between enterprises and marketing vendors or agencies, too, can be a source of concern. The study found that 96% of respondents outsource a part or whole of their digital display advertising initiatives. However, regarding how marketing vendors or agency partners are executing these strategies, only 18% of respondents said there was complete transparency from their vendors. About 49% said transparency was satisfactory, while 29% felt almost or entirely left in the dark.
See more: Marketing Gets Real World with Holographic Displays in the Metaverse and Beyond
Develop the Right Strategy and Partnerships
While digital display advertising can be effective, it can be seen that marketers face significant challenges and concerns, such as measuring the right performance metrics, ad fraud, and lack of transparency in partnerships. As such, marketers should focus their efforts on developing the right strategies and partnerships to maximize the effectiveness and ROI of their display advertising campaigns.
What are a few best practices you follow to make digital display advertising effective? Share with us on LinkedIn, X, or Facebook. We’d love to hear from you!
Image source: Shutterstock
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Source: Marketers Are Concerned About Ad Fraud in Display Advertising – Spiceworks
