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While 2022 had its challenges, like transitioning from a pandemic and adapting to post-pandemic marketing, it also had its rewards and learning experiences. Genius Monkey continues to grow, not only with clients and success stories, but also with new team members and greater recognition in the marketing industry. This is what we’ve learned in 2022 that you should take with you into the new year.
Ad Sales on the Rise
Despite coming out of a pandemic, advertising continues to grow. For the first time ever, ad sales in the United States are projected to pass $300 billion, as reported through Magna Global.
Here are some more stats from their findings:
- U.S. advertising revenues grew 11% to $151 billion in the first half of 2022.
- Ad sales grew by 14% in the first quarter and grew by 7% in the second quarter.
- For 2022, revenues may hit $323 billion, which is 9.8% above 2021 levels, 8.1% of which is non-cyclical and non-political ad spending.
Adapting to the Pandemic “Ending”
Though there’s no official end to the pandemic, we’re reaching a “new normal” across most industries and using everything we’ve learned to make our services even better.
Travis Champ, Genius Monkey COO, said that the pandemic has changed the way people consume media—a large majority of people still work from home, so they’re on their devices all day and using a variety of devices like phones, TV, computers, tablets, etc. Media companies have adapted to that behavior change, so today, we have more streaming services than ever before, giving consumers more options for content.
“Businesses need a good programmatic approach to add these new mediums as they come about or they’re going to be missing out,” Champ said. “That’s the biggest thing that has changed in this space—having the right approach to be adaptable to new changing mediums. One example is Netflix introducing advertisements recently. That’s a whole new landscape that people should be ready to add to their strategy.”
One major point we’ve taught others is to keep marketing, even during slow times. Just because supply or budget may be low, you want to keep your business engine running. Champ said that the best example of successful advertising happened during the height of the pandemic—while many people cut off their advertising during this time, it was the ones who stuck around who were successful.
“Advertisers that kept advertising, those are the ones who triumphed through economic hardships. Whatever we have ahead of us in the next year, people need to keep in mind that consistency and having brand recognition online will bring the most success. Even if you can only send one email or run one ad every couple of weeks, that’s better than doing nothing.”
Genius Monkey Takeaways
This year, we’ve been able to diversify and grow our clients, increase our own team with new talent hired, and gain recognition in major advertising categories nationwide. Here are a few more Genius Monkey wins for 2022:
- Client Success – we frequently update our Case Studies with real data and results
- More Genius Monkeys – we’ve hired many new team members this year and have a steady growth that we expect to continue into 2023
- Ad Awards – DigiDay and AdExchanger featured us as finalists in their award categories, “Best Measurement Solution” and “Best Account Support by a Technology Company,’ respectively.
