{"id":49622,"date":"2023-05-17T11:05:03","date_gmt":"2023-05-17T18:05:03","guid":{"rendered":"https:\/\/www.kochava.com\/?p=49622"},"modified":"2023-05-17T11:05:03","modified_gmt":"2023-05-17T18:05:03","slug":"navigating-ad-budget-cuts","status":"publish","type":"post","link":"https:\/\/www.kochava.com\/ko\/blog\/navigating-ad-budget-cuts\/","title":{"rendered":"Navigating Ad Budget Cuts"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”.vc_custom_1684183455160{padding-bottom: 20px !important;}”]\r\n

3 ways marketers can ride out the waves of economic uncertainties<\/h3>\r\n[\/vc_column_text][vc_column_text]Our once (fairly) calm ocean has been riddled with COVID swells, waves of shifting privacy policies, and overall economic surges that have left marketers tumbling. The possibility of a recession has been brought to the forefront of many of our minds, but we must remember that this isn\u2019t our first storm. Let’s build a lifeboat, put on our water wings, and surf the waves of uncertainty until the winds die down. So how do we navigate <\/span>ad budget cuts<\/span> while staying afloat?<\/span>[\/vc_column_text][vc_column_text css=”.vc_custom_1684183449523{padding-top: 20px !important;padding-bottom: 20px !important;}”]\r\n

1. Don\u2019t panic! Let\u2019s think this through<\/h3>\r\n[\/vc_column_text][vc_column_text]When it comes to any emergent situation like a flux in our economy, people are always surprised and not many of us are prepared, because we don\u2019t want to admit to any negative changes. In these times there are <\/span>two<\/span><\/a> ways to proceed: (1) messy and scared or (2) accept the problem and get ahead of it. Let\u2019s choose option two.<\/span>\r\n\r\nHere\u2019s what we know: ad spend growth will likely decelerate in 2023. According to a <\/span>survey<\/span><\/a> by IAB, ad buyers revealed that there will be a 3.1% decrease in year-over-year ad spend growth between 2022-2023, versus 2021-2022.<\/span>[\/vc_column_text][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all” css=”.vc_custom_1684344228188{padding-top: 40px !important;padding-bottom: 30px !important;}”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/4″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][image_with_animation image_url=”49623″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/4″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column_inner][\/vc_row_inner][vc_column_text]Here\u2019s the problem: Marketers will have less money to spend on advertising. But let\u2019s reframe it: Marketers have the <\/span>opportunity<\/span><\/i> to reassess their budgets and optimize for future growth.<\/span>\r\n\r\nIn many ways, <\/span>ad budget cuts<\/span> force marketers to get creative, reevaluate their techniques, optimize their spend, and proceed with more clarity and confidence. One might even say that a marketer can learn more and mature in their craft by weathering budget cuts, versus only operating in times of plentiful and growing spend. <\/span>[\/vc_column_text][vc_column_text css=”.vc_custom_1684183441750{padding-top: 20px !important;padding-bottom: 20px !important;}”]\r\n

2. Reevaluate what you\u2019re currently doing<\/h3>\r\n[\/vc_column_text][vc_column_text]When you\u2019re in a stressful situation it\u2019s best to take a step back and look at things from a different perspective. Before you can build a lifeboat, you need to determine what tools and supplies you have. What will safely get you over that next wave and keep you afloat?<\/span>\r\n\r\nIt\u2019s no surprise that in economic uncertainties, media budgets get evaluated more frequently. In fact, <\/span>63%<\/span><\/a> of IAB survey respondents said that they will be evaluating and reforecasting their budgets more frequently in 2023. Of those reforecasting, 45% said they would be doing this on a monthly basis, with another 20% doing it on a daily or weekly basis. Continuous reforecasting can help marketers make better predictions on their future ad performance and adjust their budget accordingly. However, be wary of too much micromanagement. You need to give new strategies enough time to age, before deciding whether they\u2019re a failure or a success. Finding a balanced approach is key. Ask yourself:<\/span>\r\n