New Engen, Inc. reposted this
I am SO proud of this one. This is partially the product of a meeting we had a few months ago as I took over Client Strategy and we were discussing headwinds for the year and conversations that we were having repeatedly with our potential clients. The team didn't just build slides for us to use...but working in parternship with our analytics team they built a dashboard for all. https://lnkd.in/g5hM6ft2 Our dashboard offers dynamic insights into digital advertising trends from previous election years. It helps us anticipate market behavior and address potential challenges and opportunities proactively. By analyzing data across various dimensions, including industry-specific insights, it aims to provide a comprehensive understanding and tailored strategies to optimize outcomes for all brands. At New Engen, Inc., we use this dashboard to support our clients across various industries. One of the main concerns for our clients is managing costs in the unique climate of an election year, especially in 2024, which also features the Paris Summer Olympics and increased digital ad spending from global players like Temu. Our dashboard insights empower brands to monitor CPM fluctuations as political spending increases, assess industry-specific impacts, and analyze channel performance. This allows for tailored responses to increased competition and market dynamics. Key Trends The New Engen 2024 Election Insights Dashboard highlights a historical reliance on highly visual channels such as social media, video, and display, which may lead to higher CPMs in these areas. However, digital marketing trends can vary significantly each year, making it essential to monitor overall costs and use the dashboard to distinguish between market trends and brand-specific factors affecting ad spend. Based on observations from 2020, we expect a surge in advertising spend throughout the year, leading to higher advertising costs across industries. Unlike 2020, the increased number of advertisers may result in sustained high CPMs post-election and during peak shopping periods like Black Friday/Cyber Monday. Brands should stay alert and adjust their Q4 campaigns accordingly. In the latter part of the year, we anticipate rising CPMs and potential volatility in conversion rates, especially during significant events like the presidential debates, which could shift audience attention away from advertising channels. Being aware of these dates and fluctuations will be crucial for optimizing campaign performance and maximizing ROI. Want to play around with it? It's all yours......
