Integral Ad Science, a global leader in digital media quality, released its IAS Industry Pulse Report, outlining media experts’ top concerns for advertising on social media platforms in 2023. The report named eroding consumer trust as the primary concern for social media marketing going forward.
Despite consumers’ increasing distrust of these platforms and their inherent privacy issues, lack of transparency, and effect on public discourse, media experts still plan to advertise on social media come 2023.
The reason is simple — social media advertising offers unparalleled reach and engagement just to pass it up and ignore its potential. This is especially true for brands targeting Gen Z who are now the primary audience on social media channels.
And while media experts intend to keep advertising on these platforms, the amount they spend is expected to change.
“IAS research found 77% of media experts agree that eroding consumer trust in major social media platforms may negatively impact their media spend,” said Khurrum Malik, Chief Marketing Officer of IAS. “At the same time, marketers can't turn away from the allure of reach and engagement that social media can provide. This love-worry relationship highlights the need for increased transparency for social media advertisers.”
According to IPG Mediabrands and Magna’s analysis, social media platforms are making headway in safety, inclusivity, sustainability, and data ethics, although not at a pace that would make a significant difference.
Integral Ad Science found that 91% of media experts plan to advertise on social platforms in 2023, but with a decrease in monetization across platforms. The only exception is WhatsApp, which is seeing a 2% increase. In addition, two-thirds of Industry Pulse’s respondents cite a lack of transparency as the main cause of reduced media spend.
On the other hand, digital audio and video game advertising continues to make headway in the digital media landscape. A whopping 70% of media experts agree that audio listeners will continue to migrate to digital formats.
“Publishers are bullish about video game advertising, with more than one-third (34%) recognizing the potential for opportunities in the year ahead,” according to the report. “Nearly one in five (19%) media experts are planning to prioritize advertising in video game environments next year.”
The report also suggests a possible way out of the cookie-related transparency crisis through contextual targeting. This type of targeting relies on keywords, website content, the form, and the function of a page to advertise to the already engaged audience.
We might finally see a broader shift to native advertising after all.