Annual dentsu ad spend report 2021 reveals that global advertising spend is expected to grow 5.8% in 2021 as the industry begins to recoup the 8.8% fall in 2020 brought about by the impact of COVID-19. In Central and Eastern Europe, we expect a healthy growth of 7,2%.
In the full report you can download from Our Latest Thinking page, you can see the market and vertical data in detail.
In Croatia, since we were heavily impacted by the earthquakes and tourist season flop, we expect a strong recovery, higher than what is expected as an average for Central & Eastern Europe. Media has an amazing way to bring people together, and we expect a summer full of positive movements with huge sports events like Euro 2021 and the Olympics, and people being let out of lockdowns due to vaccinations.
In general, we see an uptick in the general optimism towards consumer spend, the return of tourists due to vaccine programs progressing all over Europe, and thus increased advertising spend.
Globally the change towards digital is huge: digital will account for half of all spend for the first time, with Social (18.3%), Search (11.0%) and Video (10.8%) expected to benefit the most.
5 key considerations for 2021
There are some key considerations to help guide brands as they are tested in their abilities to react and adapt to continued uncertainty.
Long-term brand building is still key.
- As the downturn in the economy makes price a bigger decision-making factor, use messaging to support long-term brand relationships. The world around us might change, but the media principles do not.
TV & video planned together.
- When thinking about TV, always also think about video-on-demand and addressable TV. TV and video are as powerful as ever for connecting the dots between awareness and attribution.
Collect and use data.
- The importance of collaboration with other teams within a brand will be particularly important this year to accommodate changing consumer preferences. How much do you work with consumer data? Do you activate all the data that you have available? How do your consumers shop online and how could you innovate in that sphere and to personalise creatives with data?
Direct to consumer and e-commerce.
- These are pillars of delivery as we continue to see supply chain disruption and scarcity because of lockdowns and restrictions. Focus on owned 1st party data effective use. Design all marketing throughout the whole consumer journey and use this opportunity to restart and redefine your brands approach to advertising in a smarter way.
Events & emotional connection with customers
- In the right brand moments. How will you bring back safe events, or will your event be virtual in the future? We expect to see some real innovation in this space, as people’s need to experience something unique together has not gone anywhere.
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If you have any questions about the above, please be in contact!
Best wishes,
Vjeko Srednoselec / Chief Operations Officer
dentsu Croatia