The Rise and Decline of Digital Advertising

2022 was a remarkable year for digital advertisers. Post-COVID restrictions generated an advertising boom, with brands scrambling to capture pent-up consumer demand. As restrictions lifted and the world took baby steps towards normalcy, digital ad spending skyrocketed.

However, fast forward to 2023, and the scene has somewhat changed. Global economic concerns have ushered in an air of caution. Brands are now more deliberate with their ad dollars, meticulously choosing where to place them.

In a landscape where cautious spending prevails currently, one thing remains consistent: programmatic ad buying continues to dominate the digital space.

Digital Ad Trends: The Numbers

MediaRadar’s analysis of ad spending from national digital media outlets paints an intriguing picture. By Q3 2023, national digital advertising was hovering at a colossal $46 billion. Despite this impressive number, digital spending noted an 8% YoY decline from 2022.

Interestingly, this downturn is predominantly due to a slump in programmatic spending, which decreased by 13% YoY. Industries such as technology observed a significant decline in programmatic ad spend by 31% YoY, settling at $3.8 billion.

However, let’s add some context: programmatic ad investments still commanded a large share of the pie, with 74% ($35 billion) of digital spend through Q3 2023 being allocated to programmatic channels. Tailor digital ad sales by understanding which advertisers embrace ad tech along with their buying behavior.

On the flip side, digital publishers should note that direct ad spend has shown growth. Up 7% YoY, direct ad expenditures touched nearly $12 billion. Leading this uptrend are sectors like tech (increasing 7% YoY to $1.8 billion) and home furnishings, which saw a whopping 19% YoY increase, amounting to $924 million. Not to be left out, professional services also hiked their direct ad investments by 6% YoY, bringing their total to $763 million.

Top Programmatic Advertisers in 2023

A staggering 136k companies jumped aboard the programmatic bandwagon by the end of Q3 2023, buying ads for about 208k brands or product lines. This is an impressive 83% of the nearly 165k companies that opted for digital advertising during this period.

Several top companies, including industry giants like Amazon.com, Comcast, Hyundai, and Mondelez, dedicated a whopping 80% or more of their budgets to programmatic spending emphasizing its significance in today’s ad landscape. And when we delve into different advertising categories, eleven out of 27 allocated more than $1 billion solely for programmatic advertising. Leading this list are media & entertainment and retail advertisers, with over 80% of their digital ad dollars flowing programmatically. These along with apparel, food, and beauty are categories to target for ad tech sales opportunities.

However, there are always outliers. The home furnishings category, including furniture, maintenance items, and outdoor products, leaned less into programmatic channels, placing less than 60% of their digital ads through ad tech.

Looking ahead, several brands, such as Aflac, H&M, and Old Spice, seem poised to bolster their programmatic ad spending, with predicted RFPs slated for Q4.

The Future of Programmatic Advertising

The world of programmatic advertising is dynamic, and shaped by myriad external factors. While we’ve noted a YoY decrease, the resilience of ad tech remains undeniable. Companies are still betting big on programmatic, signaling its enduring relevance in the ever-evolving advertising ecosystem.

For advertisers and ad sales professionals keen on staying ahead of the curve, harnessing advertising intelligence is paramount. Ad sales professionals leveraging real-time insights and data can make informed decisions on how to target key brands for success, ensuring their sales efforts yield optimal results.

Why does it all Matter?

MediaRadar’s analysis highlights that while programmatic advertising has seen a slight decline in 2023, it still makes up the vast majority of digital ad investments. Advertisers across industries continue to lean heavily into ad tech to reach their target audiences.

For ad sales professionals, these insights indicate that programmatic channels remain crucial for prospecting new business. Focus sales outreach on categories investing heavily in ad tech like retail, media, entertainment, and apparel brands. Use real-time data to identify brands increasing their programmatic budgets.

For publishers, direct ad sales present an area of growth to capitalize on. Allocate resources to building direct relationships with advertisers in home furnishings, tech, and professional services. Develop tailored offerings to attract these brands investing more in direct channels.

The programmatic landscape will continue to evolve rapidly. By leveraging timely advertising intelligence and data, ad sellers and publishers alike can adjust strategies to drive revenue and stay ahead in 2024’s digital advertising arena.

Want to stay ahead of the curve? Subscribe to MediaRadar’s insights and get the latest advertising trends, data analyses, and predictions delivered straight to your inbox!

According to Alphabet, YouTube’s parent company, the video giant’s ad revenue dropped by about 2% in Q3 2022. 

YouTube wasn’t the only giant facing an unusual dip—Facebook’s ad revenue dropped, too, as advertisers reigned in their budgets amid the economic uncertainty. 

But don’t feel too bad for YouTube—the platform still attracted almost $30b in ad revenue last year, and according to our data, that number will continue going up.

In Q1 2023, nearly 9.8k advertisers in industries such as Media & Entertainment, Technology, Medical & Pharmaceutical, Finance, and Food, spent $5.7b on YouTube, representing a 28% YoY increase from Q1 2022. Advertisers in those categories accounted for $3.5b or 62% of the ad investment in YouTube in Q1.

Let’s take a closer look at how some of those advertisers helped bring YouTube’s ad business back to life. 

A Media & Entertainment Playground

More than 60% of global consumers watch videos on YouTube, and almost all do so for entertainment. 

Case in point: In 2020, people consumed more than 6b hours of content on YouTube Gaming, up from 3.15b in 2019. (It’s worth noting the pandemic likely contributed to the 90.5% increase and subsequent change in people’s watching habits.)

 this was fueled by the COVID-19 pandemic

Unsurprisingly, this makes YouTube a playground for Media & Entertainment advertisers. 

According to our data, advertisers promoting movies, drama TV shows, subscription TV services, and game titles all increased their investment in YouTube by more than 60% YoY. Overall, Media & Entertainment advertisers increased YouTube spending by 88% YoY in the first quarter.

A level deeper, advertisers promoting movies, who accounted for 20% of the spending from this category’s advertisers, invested more than $328mm in YouTube. 

For The Walt Disney Company’s advertisers, some of those dollars went to ads leading up to the release of Ant-Man and the Wasp: Quantumania in theaters in February, and the ongoing promotion for its forthcoming release on Disney+ (May 17, 2023). 

Meanwhile, advertisers promoting drama TV shows, including HBO’s The Last of Us, spent almost $236mm. 

Emily Giannusa, HBO’s VP of program marketing, said, “This was a massive-scale campaign [to promote The Last of Us]. Even though I can’t talk about budget here, we ignited all over the world.”

Giannusa and Co. used “breadcrumb” content to appeal to the series’ fans, including YouTube ads, a teaser that generated more than 57mm organic views in 72 hours, and ads on HBO Max. 

Streaming service advertisers fight for supremacy 

Advertisers for big names such as Apple, Paramount, and The Walt Disney Company, collectively increased their investment in YouTube by 168% YoY to $178mm. (Apple, Paramount, and The Walt Disney Company accounted for 70% of the investment in Q1.)

For these advertisers, the triple-digital increase comes amid the ongoing battle for streaming supremacy as new entrants gain footing and Netflix loses market share. 

Advertisers for HBO Max, Apple, Paramount, and The Walt Disney Company will likely see this as an opportunity to woo consumers, especially as some services raise their prices and push even the loyalist consumers away. 

That said, spending from streaming advertisers could change course quickly if the recession puts too much pressure on people’s budgets. According to data from early 2023, just over 15% of Americans say they don’t use any TV subscription services, up by almost 3% compared to October 2022. 

Pharma Advertisers Embrace YouTube 

Pharma advertisers have historically gravitated to traditional ad formats, so much so that those promoting over-the-counter (OTC) meds and medical devices spent more than $7.9b on TV ads in 2022. 

That spending continued into 2023, with advertisers investing heavily in lengthy TV ads. In fact, pharma and medical advertisers invested over half their TV budget on ads between 46-60 seconds in Q1, up from 44% in Q1 2022. 

For example, advertisers for AbbVie spent 86% of their budget on 46- to 60-second ads, with the remaining 14% going to commercials of less than 45 seconds. 

But as younger generations enter the healthcare world and turn to social media for health-related advice, including YouTube, pharma and medical advertisers are changing their tune. 

In Q1, medical and pharma advertisers increased their investment in YouTube by 26% YoY, despite the number of companies investing in them dropping by 29%.

If that doesn’t go enough against their historical grain, this will: Many medical and pharma advertisers are embracing the short-form content people love. 

In Q1, almost 40% of the companies in our sample (130 out of 325) bought ads that cut at the 15-second mark, including those promoting hemorrhoids OTC meds, diabetes prescriptions, and dietary supplements. 

Meanwhile, more than 40% and 20% of companies spent on ads of 16-30 and 31-45 seconds, respectively.

Not All Advertisers Are Bullish 

YouTube is back where it belongs—in the good graces of advertisers—but not everyone was ready to dive back in. 

Finance advertisers, for example, decreased their investment in YouTube by 29% YoY to more than $382mm, undoubtedly a reduction driven by the collapse of Silicon Valley Bank (SVB), rising inflation, and the uncertain economy.

At the same time, technology advertisers reduced spending on YouTube by 14% YoY to $647mm, thanks to sizable reductions by cell providers (down 46%), web design & development (down 54%), and financial software (down 47%).

Despite decreases from these advertisers, YouTube will remain a mainstay—it’s too big and reaches too many people to ignore. 

Plus, as the platform rolls out commerce-centric features, advertisers in other industries, including retail, will see the world’s biggest video platform in an even brighter light. 

For more insights, sign up for MediaRadar’s blog here.

And some medical and pharma advertisers are sold. In Q1 2023, advertisers from big names such as AbbVie and Novo Nordisk spent more than $494mm on YouTube, representing a 26% YoY increase (up from $391mm in Q1 2022). The number of pharma and medical companies buying YouTube ads dropped by 29%.

For the advertisers who did invest in YouTube, their strategies go against their traditional MO, which could signal a greater embrace of digital advertising.

YouTube Spending Slowed by a Handful of Advertisers 

In Q1 2023, half of YouTube spending from pharma and medical advertisers ($246mm) came from those promoting products in six categories: hepatitis prescriptions, hemorrhoids over-the-counter (OTC) meds, diabetes prescriptions, dietary supplements, pain management OTC meds, and multiple sclerosis prescriptions.

• Hepatitis prescriptions: ~$66mm 
• Hemorrhoids OTC medications: ~$50mm
• Diabetes prescriptions: ~47mm 
• Dietary supplement: ~$36mm 
• Pain management OTC medications: ~$24mm.
• Multiple Sclerosis prescriptions: ~$23mm.
  

Despite the increase in YouTube ad spend, advertisers for dietary supplements decreased YouTube spending by 90% YoY,  including Ka’Chava and Nucific.As surprising as that may seem, the strategy may have some merit. Despite dropping YouTube from its media mix, Nucific recently celebrated the milestone of selling more than 3mm units of its best-selling product, Bio-X4.

Pharma & Medical Advertisers do the Unexpected

Pharma and medical advertisers have a history of running campaigns built on a foundation of lengthy ads.

It’s a generally accepted practice that most consumers are okay with. According to a recent study, 64% of respondents thought the length of pharmaceutical ads was fair, good, or excellent.

Still, this goes against everything society craves: Nuggets of content.

The popularity of TikTok and Instagram Reels proves that.

So, when it comes to digital advertising, shorter is often better.

Pharma and medical advertisers have historically shunned that best practice, but they may be having a change of heart. 

In Q1, almost 130 companies out of the total 325 invested their YouTube dollars in ads less than 15 seconds, including those promoting hemorrhoids OTC meds, diabetes prescriptions, dietary supplements, pain management OTC meds, and depression prescriptions. 

Meanwhile, more than 130 and 65 companies invested in ads of 16-30 and 31-45 seconds, respectively. Advertisers for diabetes prescriptions, heart attack prevention prescriptions, and cold/cough OTCs who bought 31-45 second YouTube ads in Q1 2022 didn’t return in thus far in 2023.

Finally, just 95 companies, including Botox, invested in ads that eclipsed the one-minute mark.

The pharma and medical advertisers’ embrace of shorter ads could signal that they’re evolving to meet the preferences of today’s digital-first world. This could also open the door to more innovative and future-facing ad types, including OTT and CTV.

Where Besides YouTube? 

Where else are medical and pharma big budgets going?  

Unsurprisingly, traditional ad formats are still getting a lot of love. 

In 2022, pharma advertisers collectively invested over 65% of their budgets in broadcast and cable ads. For these advertisers, traditional formats, namely TV, still offer impressive reach, especially among older consumers. 

The continued investment in traditional ad formats also follows the recent trend of advertisers investing more in these OG formats as they prepare for the final downfall of third-party cookies, increasing digital ad loads, and dwindling trust in some digital formats.

While traditional ads will continue to get plenty of attention from pharma and medical advertisers, the industry’s accelerated shift to digital will push advertisers into the future—a push we already saw taking place in 2022.  

Last year, advertisers for 572 pharma brands spent nearly $1.5b on video ads, with a handful investing only in the format, including Entyvio (Millennium Pharmaceuticals), Gardasil 9 (Merck & Co), Prevnar 20 (Pfizer), Epclusa (Gilead Sciences), and Cibinqo (Pfizer). 

Social media advertising will also be more prominent as younger generations turn to Facebook, Instagram, and Twitter for healthcare information. In fact, a recent study found that 76% of people use social media after a doctor’s visit to ask others about their experiences.

Influencer marketing will likely play a role, too. According to WEGO Health, 51% of patients “mostly” or “completely” trust patient health influencers. At the same time, 85% of patients said they’d be “somewhat” or “very receptive” to an ad from a patient influencer.

YouTube Still Has a Place for Pharma and Medical Advertisers

YouTube’s reach and influence are simply too much for advertisers to ignore. 

As younger healthcare professionals (HCPs) enter the workforce and consumers turn to YouTube for all of their healthcare needs, the platform will remain a key nexus between brands and their target audience. 

For more insights, sign up for MediaRadar’s blog here.

If you looked at any stats related to cord-cutting, the popularity of streaming, or the rise of OTT advertising, you’d think the answer was a resounding “no.” 

The waves of video consumption are shifting and flowing heavily in favor of online sources. The entrance of NBC and other traditional media giants into the streaming wars proves that this isn’t just a fad. 

Conventional wisdom would be that advertisers would shift their budgets from TV to digital. 

Not so fast. 

More than 5.5b people still watch TV, giving brands 5.5b reasons to keep TV ads alive. And that they did in Q1, collectively investing more than $14.8b in TV, with most of those dollars going to commercials of the 16-30-second variety. 

This article explains why advertisers are gravitating to shorter TV ads, which ones are going against the grain, and what the future holds for TV advertising.

Hint: The future may surprise you.  

Short Attention Spans Mean Shorter Ads

Commercials are a hot topic among consumers and advertisers alike. 

Advertisers have historically cherished their reach, especially during marquee events like the Super Bowl, the Olympics, and elections. 

On the other hand, the average consumer expresses the opposite sentiment, with two-thirds of respondents to a survey saying they don’t actively watch TV ads. 

Combine that with declining attention spans, and it shouldn’t be a surprise that advertisers aren’t fussing with long commercials; ads over 60 seconds accounted for just 4% of spending in Q1. 

According to our data, advertisers spent over $12.2b on TV ads of less than 30 seconds in Q1 2023, representing 82% of the total TV advertising investment. 

Of those ad dollars, $5b went to ads less than 15 seconds, while around $7b went toward those between 16 and 30 seconds. 

The gravitation toward shorter ads aligns with the attention spans of the digital consumer, but there are also data to support the allocation. 

While advertisers have historically defaulted to 30-second commercials, McKinsey found that the performance gains from longer ads (beyond 15 seconds) aren’t worth the extra dollars. The research also found that advertisers could potentially save up to 9% by shifting spend away from longer ads—a move that’ll be extra appealing in 2023 as advertisers look for efficiencies in their budgets. 

Shorter commercials are universally loved

When it works, it works. 

That’s what most advertisers said in Q1 about commercials that cut at the 30-second mark. 

In Q1, nearly 60% of the TV ad investment from media & entertainment advertisers went to ads between 16 and 30 seconds ($1.1b), while about a third went to 15-second commercials ($619mm). During Q1 2022, the mix was similar, with 61% of spending dedicated to 16-to 30-second ads and 31% to ads of less than 15 seconds. 

Meanwhile, the investment in 16- to 30-second TV ads from both finance and technology advertisers hovered around 66-67% ($1.1b and $766mm for finance and technology advertisers, respectively). At the same time, finance advertisers invested $432mm in 15-second ads, while technology advertisers spent $260mm.

For example, advertisers for The Progressive Corporation invested 83% of their budget on 16- to 30-second commercials, many of which landed on CBS, NBC, and Fox networks.

The message is clear: Short ads are in. 

Even advertisers with deep pockets who can stomach the lofty price tag that often comes with longer ads aren’t getting carried away. In Q1, advertisers for Procter and Gamble spent 100% of their TV ad investment on ads of less than 30 seconds. 

Pharma Advertisers Like What They Like

There’s always that one person in your family who goes against the grain. That’s pharma advertisers when it comes to TV advertising. 

While advertisers almost universally opted for shorter commercials in Q1, pharma and medical advertisers did the opposite, investing over half of their TV budget on ads between 46-60 seconds, up from 44% in Q1 2022. 

AbbVie, for example, spent 86% of its budget on 46- to 60-second ads, with the remaining 14% going to commercials of less than 45 seconds. 

Some pharma and medical advertisers took it further by investing millions ($217mm) in TV ads longer than a minute. 

The sizable investment in TV comes despite pharma’s slow-but-steady embrace of digital advertising as the industry continues its shift to digital healthcare. 

In 2022, advertisers for 572 pharma brands spent just under $1.5b on video ads, with 74 investing only in the format, including Millennium Pharmaceuticals, Merck & Co, Pfizer, Gilead Sciences, and Pfizer.

While pharma advertisers’ embrace of TV is far from surprising given the thin regulatory lines on which they sit, their investment in the traditional format may not look so outlandish in a few years. 

It’s 2023, and TV ads are making a comeback. 

The Comeback Few Saw Coming

TV ad spending was down by 2% YoY in Q1 2023, but it’s poised for a comeback few saw coming. 

Despite the adoption of digital and online video from a consumer and advertising standpoint, brands will have more reason than ever to keep TV ads moving forward. 

In fact, many advertisers are returning to traditional ad formats to break through digital ad loads, capitalize on consumers’ trust in traditional formats, and prepare for a world without third-party cookies. 

TV advertising may have faded out of focus for a few years, but it’s battling to regain the spotlight. As it does, advertisers across medical & pharmaceutical, media & entertainment, finance, retail, and technology, who combined to spend 54% of the TV ad investment in Q1, will continue to invest. 

For more insights, sign up for MediaRadar’s blog here. 

But even as digital formats root themselves in the budgets of brands, TV ads are still a significant piece of the pie. Here’s how much brands spent on TV ads in 2022 and how they’re performing so far in 2023.

TV Still Captivates Consumers and Advertisers

You don’t hear about TV ads nearly as much as their digital doppelgangers. For example, when Netflix introduced an ad-supported tier, the news made waves.

Shakeups to broadcast and cable TV players generally don’t make as much noise—outside of the Super Bowl when brands spend millions—but that doesn’t mean advertisers aren’t investing in the format. 

In 2022, 250k advertisers spent nearly $60b on TV ads, representing a 3% YoY increase from 2021.

True to form, pharma advertisers remained in the safe confines of TV, but other more digitally prone advertisers are investing as well, including those in the media & entertainment (up 15% to $7.6b), finance and real estate (down 5% to $6.6b), retail (down by 3% to $5.4b), and technology (down by 2% to $4.9b) industries.  

Overall, advertisers in these categories spent $39.4b (55% of the total investment) on TV ads last year. That said, only some of them increased their investment: pharma, financial institutions, and consumer electronics.

Pharma advertisers stay loyal 

After decades of showing little interest in digital, advertisers took notice in 2017 when their digital ad investment jumped by ~170% YoY to almost $6b. By 2024, that number’s expected to approach $20b. (For comparison, it’s estimated that retail advertisers will spend more than $66b this year.)

Pharma advertisers’ shift in strategy in search of digital-first healthcare professionals (HCPs) is long overdue, but it hasn’t fractured their relationship with broadcast and cable TV. 

Overall, pharma advertisers promoting over-the-counter (OTC) meds, medical devices, and companies spent more than $7.9b on TV in 2022, up 12% YoY.

Much of that investment came from advertisers promoting arthritis (up by 1% to $471mm), HIV/AIDS, and asthma (up 24% to $308mm) medications; advertisers in each of these categories spent more than $300mm on TV.

The biggest increase, however, came from advertisers for HIV/AIDS medications (up by 42% to $374mm). For example, advertisers for GSK increased their TV budget by 150% YoY to promote Cabenuva following the FDA’s approval last year.

In addition to GSK’s investment in TV, the company launched digital DTC marketing to patients. This cog in its advertising engine illustrates the merger between digital and traditional formats but also the rise of DTC and consumer marketing, two sectors of the advertising world that pharma advertisers have historically shied away from due to regulatory concerns. 

Spending was also likely a response to advancements by competing companies. In 2022, the FDA approved Sunlenca (Gilead Sciences), a new HIV drug for adults with limited treatment options.

The spending from GSK reveals the cut-throat nature of pharma and the need for advertisers to up their investments in all formats—TV included—when they bring new medications to the market. 

Finance advertisers balance generational differences  

Despite the rise of digital banking and finance—mobile banking will grow at a compound annual growth rate (CAGR) of 12.4% through 2026—many finance advertisers are still committed to TV.

In 2022, finance advertisers spent $3b on TV, a 7% YoY increase, driven primarily by those promoting banks, credit cards, and investment firms who accounted for 35% ($1.1b) of the category’s spend.

Advertisers for banks, in particular, spent big—think Bank of America and Chime—increasing their budget by 41% YoY. Meanwhile, advertisers for credit cards and investment firms boosted their investments in TV by X% and X%, respectively.

For finance advertisers, the commitment to TV during the digital shift is likely due to their desire to stay in front of pockets of society who haven’t fully embraced digital means of managing their finances. In fact, Baby Boomers have historically been the generation least interested in digital banking. 

The pandemic changed that. 

While younger generations have propelled the digital-finance revolution, older generations are warming up to it; 78% of adults in the U.S. now prefer to bank via a mobile app or website. 

Finance advertisers set on reaching both sides of the generational coin must shift spending away from TV and into ecosystems where consumers of all ages are spending their time, such as social media and OTT. 

Tech titans invest in TV 

Overall, technology advertisers decreased their TV budgets in 2022. That said, advertisers promoting consumer electronics did the opposite, increasing theirs by 21% to $1.8b.

Most of the increase from consumer electronics advertisers came from major players, including Apple, Alphabet, and Samsung, who aggressively pushed their cell phones in the perpetual competitive battle for smartphone supremacy. 

At the same time, Meta (Facebook’s parent company) upped its investment to promote its virtual reality headset, as did Oura to boost the presence of its Oura Ring. 

Qura also integrated its strategy into the NBA with a campaign starring basketball legend Chris Paul.

The surge in TV spending from some advertisers with deep pockets could suggest that the traditional format will only be accessible to those who can bear its immeasurable and often costly nature. 

It may also suggest those competing in competitive spaces, like cell phones, will have to use every channel available to woo consumers in their favor, even if it’s not “in vogue.”  

TV Ads Hang Around in 2023

Gone are the days when spending on TV ads soars year after year, but that doesn’t mean there will be a complete absence of commercials anytime soon, especially as advertisers seek an effective way to reach consumers without third-party cookies. 

Overall, advertisers decreased their investment in TV by 2% in Q1 2023, but they still spent almost $15b, thanks to pharma companies and quick service restaurants (QSR) increasing their budgets by 15% and 16% YoY, respectively. 

At the same time, advertisers for cell providers and auto brands boosted their budgets by 17% and 3%. 

While TV advertising no longer demands the prime time spot it once did, it’ll continue to secure a spot in budgets as brands and media companies blur the lines between traditional and digital advertising. 

As that happens, TV ads will assume a new role. 

Will it be a smaller one? Yes. 

Will it be any less valuable? A touch, but too many people still watch TV for their value to disappear.  

For more insights, sign up for MediaRadar’s blog here.

Despite digital advertising’s dominance across industries, pharmaceutical advertisers have overwhelmingly stuck to their traditional roots (pun totally intended). 

But did the acceleration of digital healthcare during the pandemic finally push them into the future? Sort of. 

The Rise of Digital Healthcare Pushes Pharma Advertisers Into the Future

The pharmaceutical industry had no choice but to switch things up when the pandemic took hold many moons ago.

Pharma advertisers didn’t have a choice, either. The healthcare world took the leap into digital and healthcare professionals (HCPs) bid farewell to in-person meetings with sales reps.

That farewell parade will continue, with about 20% of B2B buyers, including those in traditionally dominated industries like pharma, saying they have no intention of returning to in-person sales engagements.

With most HCPs making it clear that digital interactions with pharma companies are here to stay—only 20% of B2B buyers want to return to in-person meetings—pharma advertisers need to find another way to connect. 

Enter video and social media.

The opportunity (and appeal) of video ads

In 2022, advertisers for 572 pharma brands spent just under $1.5b on video ads; a handful of them (74) invested only in the format, including Entyvio (Millennium Pharmaceuticals), Gardasil 9 (Merck & Co), Prevnar 20 (Pfizer), Epclusa (Gilead Sciences), and Cibinqo (Pfizer). 

For advertisers at Pfizer, the video-exclusive strategy to promote Cibinqo came in tandem with the FDA’s approval of the drug, but also the continued expansion of every part of the video universe. 

In 2021, digital video advertising spending was estimated at more than $55b and projected to increase to $78.5b by the end of 2023.

If pharma advertisers are to invest in digital, tried-and-true video formats—think in-stream and in-feed ads—will be the beneficiary. 

Emerging ecosystems, however, like OTT and CTV, are catching their eyes, too, especially given streaming’s now mainstream status. 

In fact, eMarketer predicted that almost 2b people would subscribe to OTT platforms last year—and not just one of them. The average household used almost 7 streaming services in March 2022.

It’s easy to see what’s pulling pharma advertisers through the doors of OTT and CTV, too.
According to a 2022 survey, 39% of respondents cited the extended reach for linear TV campaigns as a CTV and OTT advertising.

With the entirety of the streaming world all-in on ads, including Netflix, pharma advertisers will continue to see OTT and CTV ads as a seamless, natural, and brand-safe extension of their existing TV strategies. 

Pharma advertisers harness the power of people 

Social media in healthcare isn’t new. In fact, 41% of respondents to a 2012 study said the information they found on social media influenced how they coped with a chronic condition, approached diet and exercise, and chose a hospital or physician. 

The pandemic only engrained social media into healthcare and pharma even more, with a more recent study finding that 76% of people use social media after a doctor’s visit to ask others about their experiences with medication, conditions, and diagnoses.

But pharma advertisers aren’t just throwing social media ads blindly across Facebook, Instagram, Twitter, YouTube, and other major platforms. 

They’re tapping into the power influencer marketing. 

Historically tied to B2C brands, influencer marketing has been spreading its wings and offering its powers to advertisers in other industries, including pharma.

For the first time, pharma advertisers are opening their eyes to the benefits of influencer marketing and its sway over younger generations who’ve made it clear that influencers are their jam—even for health-related advice. 

A further study drilled this point home. 

According to WEGO Health, 51% of patients “mostly” or “completely” trust patient health influencers, while 85% said they’d be “somewhat” or “very receptive” to an ad from a patient influencer promoting a drug related to the patient’s condition. 

As social networks roll out the red carpet for influencers and creators—Instagram recently extended access to parts of its creator marketplace via API—it’s hard to imagine a world in which pharma advertisers don’t continue harnessing the power of people.

Old-school Pharma Ads Still Work

Despite the rise of digital health and a slow-but-steady embrace of advertising, most pharma advertising dollars are still dedicated to traditional formats.

In 2022, more than 65% of pharma ad spend went to broadcast and cable ads, while another 9% went to magazines. 

Why? Two reasons:

• Traditional formats, especially TV, still reach the vast majority of society, with more than 5.4b people watching TV in 2022. Many of these people fall into older generations and weren’t raised by the likes of Netflix and Hulu. In fact, baby boomers are the only generation that watches cable TV in significant numbers. For pharma advertisers, TV still offers a straight line between them and their target audience. 
• Traditional ads have a level of trust digital advertising can’t replicate; it’s why we’re seeing third-party cookies go away and one of the biggest reasons traditional ads is back in vogue.
  

While digital formats offer an appealing option and will continue to be a magnet for pharma ad dollars, traditional formats still work and they’ll only grow stronger as the lines between them and digital ads merge—think Coinbase’s Super Bowl ads and programmatic TV advertising.

Blending the Old and New

Nick Cowling, Head of Performance at marketing agency Three Whiskey, suggests that “brands [will] continue to evolve their understanding of what omnichannel means in the pharma world.”

“For most, in reality, this means embracing a hybrid model of multi or omnichannel marketing that makes the most of what’s possible now, while building towards a better future that takes advantage of the increased volume of healthcare data available,” he explained. “This is also thanks to ubiquitous industry digitalization and integrating privacy-preserving technology solutions to serve for a cookie-less future.”

In 2023, that’ll mean a thoughtful mix of old and new. But if the pandemic taught pharma advertisers anything it’s that the digital ads are no longer a “nice to have.” The healthcare world has gone digital and there’s never been a better time for advertisers to embrace that. 

For more insights, sign up for MediaRadar’s blog here.

The growth of podcasts means that publishers and advertisers should pay close attention to the expanding world and its advertising (and revenue-generating) implications.

More and more content producers have adopted the format, and like any other form of content, advertisers are following; podcast advertising in the U.S. drove almost $1.5b in revenue as of 2021, representing a 72% increase from 2020.

Why?

For publishers, podcasts offer a new way to reach and grow their audience while giving them new ad inventory to offer brands.

For advertisers, podcast ad space is a place to engage with consumers in a new way – a way that seems to be gaining popularity.

As podcast advertising grows, the market is responding. Most notably, programmatic podcast advertising is gaining steam to help advertisers drive performance and efficiency in this relatively new ecosystem. That said, ad buyers are hesitant to buy via programmatic means for various reasons, including host-read ads remaining powerful and the need to vet content before the ad goes live.

Despite the growing pains, podcast advertising is here to stay—its direct-response powers are too much to ignore.

Moving Consumers to Action with Direct Response Podcast Ads

Direct response advertising has been around for quite a while in the form of coupons, sales, promotional codes, call-now’s, and more.

The idea of the form is to make consumers move immediately from an advertisement to a purchasing action. The consumer is making a buying decision based directly on the ad they were exposed to – hence the name.

Podcasts, however, have added a new layer of digital interaction for direct response advertising. Content consumers engage with podcasts in ways unlike almost any other form of content, and that has brought a new depth to what brands can achieve with direct-response ads.

For example, a listener could hear an ad about a new type of mushroom coffee and immediately buy it with the corresponding discount code (these are almost always part of the ads). The fundamentals of direct response advertising are there, but podcast’s version has something others don’t: authenticity.

Not only are direct-response podcast ads delivered in a way that encourages a purchase, but they’re done so authentically—people generally take the host’s recommendations more seriously. They do this for the same reason influencer marketing is so popular; people trust people more than brands.

So, that got us thinking… What else makes podcast direct response advertising more desirable for brands than other forms of direct response?

Why Brands Love Podcasts for Direct Response Advertising

The growing addressable audience remains a central factor in brands’ fondness of podcast advertising, but there’s more to it. A level deeper, the liking resides with podcasts’ targeting, engagement, listener loyalty, and attribution.

1. Targeting

As the podcast landscape continues to expand, more genres of podcasts have become available. There is also less censorship and more freedom when creating podcasts compared to radio and other forms of audio content.

All of this, paired with the do-it-yourself nature of the industry, means that a ton of podcasts are being created in many genres. According to the Podcast Index, there are currently almost 4mm podcasts.

From an advertiser’s perspective, more genres mean that they can reach more hyper-targeted audiences.

Different shows offer audiences of various sizes, age demographics, etc. Therefore, advertisers can measure the likeliness of a direct response by the type of audience that consumes the podcast at hand.

For example, a B2B advertiser can target B2B podcasts, like The Advanced Selling Podcast, and make the ad buy confidently, knowing that those who will hear it are likely directly aligned with their ideal customer profile (ICP).

Advertisers can also vet the episode their ads will run during, an extra layer of confidence that programmatic podcast ads can’t offer yet.

2. Engagement

Podcast listeners tend to be very engaged and focused on the episode they choose to listen to. In fact, that matter of choice is a factor in its own right. 

Listeners must find the podcast episode they want to listen to, leading them to be more patient with the content. Compared to radio, for example, there’s much less randomness regarding what podcast listeners consume.

Jason Cox, the CTO of Panoply, stated that listeners to their podcasts get through 80-90% of the content they choose to listen to.

The nature of podcasts leads listeners to do less skipping around and more genuine listening, obviously presenting a terrific environment for direct response advertising, as more engaged listeners are much more likely to act immediately.

According to Edison Research, 54% of podcast listeners say they are more likely to consider the brands they hear advertised on podcasts.

The nature of podcast ads drives engagement as well. Why? Because most of them are read by the host.

In fact, 63% of podcasts are host read, while almost half of podcasts had the majority (at least 8 out of 10) of their ads read by the host. 

A study from Nielsen found that host-read podcast ads were “significantly more likely to be described by respondents as authentic and believable, and less likely to be felt as forced.”

3. Listener Loyalty

Podcasts are like music in that listeners can connect to the host and the content (in the case of narrative-based podcasts). As listeners become more deeply connected with podcasts, they’ll build better associations with the brands that advertise on that podcast.

Many podcasts have very loyal audiences, as well.

They have listeners who will tune in attentively to every episode. Direct-response advertisements often remain the same for multiple episodes, so even if a listener is not drawn to action the first time they hear an ad, they will be later.

Consider this: Let’s say someone is listening to their favorite comedian’s podcast. If that comedian endorses the same brand for multiple episodes, pushing one promo code, there’s a high chance that the listener will at least research the promotion to see if they’re genuinely interested.

In this case, the listener has a pre-built loyalty toward their favorite comedian and, therefore, will be more willing to consider the brands that that comedian is endorsing, thinking, “If [Enter favorite comedian’s name] likes MediaRadar, then maybe I should, too.”

4. Attribution

Attribution is the arch-nemesis of advertisers. It always has been and always will be. The bane of advertisers’ existence is rearing its head more than ever as Google prepares to sunset third-party cookies, making it unprecedently difficult for advertisers to get a clear view of campaign impact.

Podcast ads come with their own attribution challenges—a 2021 survey found that attribution was the most commonly cited challenge of podcast advertising—but they have an edge that other ad formats don’t: promo codes.

Most podcast direct response ads include some version of a promo code.

It’s simple on the consumer side and gives advertisers a direct link to attribution. When consumers act on a direct response ad, a measurable interaction occurs at the point of purchase – “Use the promo code MediaRadar2023 at checkout,” for example.

When someone uses MediaRadar2022 at checkout, it’s a data point for advertisers of a successful direct response advertisement.

To expand and further hone direct advertising efforts, brands can use the data they gain from conversions to fuel their later podcast campaigns.

Advertisers and Direct Response Podcast Ads: A Perfect Marriage

In 2022, 82% of marketers said they planned to continue investing the same amount or more in podcasts or other audio content.

That’s easy to understand, considering targeting, engagement, and attribution prowess. Also, direct-response podcast ads give brands immediate access to loyal audiences.

Those reasons alone are enough to keep pushing ad dollars into the podcast world. Still, other outside forces are in play, including the demise of third-party cookies and advertisers’ desire to deliver ads in the most authentic way possible.

For more insights, sign up for MediaRadar’s blog here.

If you’re nodding your head, you’ve participated in the market’s direct-to-consumer (DTC) segment. 

Warby Parker, the unicorn among unicorns for digitally native brands, ushered in DTC nearly a decade ago. Established brands like Nike have been catching up ever since, putting the customer experience in the spotlight and playing with their online stores to make buying as easy as possible. 

The reverberations of shifting customer expectations continue to be felt among digital natives and major retail brands alike—and the model’s growth across industries and markets is stratospheric.

In 2022, approximately 64% of consumers worldwide made regular purchases directly from brands. The DTC model is here to stay, and ad platforms will need to learn to keep up. 

But how have DTC disruptors changed advertising, and what’s most important for advertising in the DTC model?

This article dives into how DTC advertising differs from traditional advertising and which factors remain the same.

What’s a DTC Brand and What Do They Mean for Traditional Advertising? 

A DTC brand is any company that sells its products to consumers rather than going through a distribution channel or retail store. With that definition, DTC can take on many different forms. 

Digitally native brands like Allbirds, Away, Casper, and Dollar Shave Club are examples of B2B brands in their purest form. 

By definition, Uber is also DTC since consumers can simply press a button and their ride shows up. No intermediaries are involved. 

Sometimes, it’s new efforts put forward by industry giants, like Nike or Asics, trying to keep up with the times. Since 2011, Nike has grown DTC sales from 16% of revenue to 35%.

Other traditional brick-and-mortar retailers are also trying to break into DTC. Under Armour has expressed a desire to grow substantially in the channel, while Adidas outlined plans for DTC sales to make up 50% of its revenue by 2025.

Overall, DTC sales by established brands (like Nike) in the U.S. are expected to exceed $160b by 2024. Meanwhile, sales from digitally native DTC brands (like Allbirds) are expected to be near $62b.

In any case, brands bypass traditional sales models, and many are rethinking otherwise staid marketing strategies.

Much of this shift is due to the customer expectations that DTC brands, in turn, exhibit. 

In the Amazon age, brands expect direct connection, fast communication and clear expectations. At the same time, marketing and sales have become more experiential than transactional. DTC brands want to reach consumers directly rather than through publishers, retailers or advertising agencies. 

The response from major advertising platforms has been telling. Instagram, Facebook, and other major social platforms have become popular among DTC brands for their ease of use and reach. 

That said, times are changing.

Since Apple began asking users whether they’d allow their online activity to be tracked, only a small percentage have agreed, making it difficult for DTC brands historically thrived within social’s walls. 

According to Polly Wong, president of Belardi Wong, an agency whose client base is ~90% DTC brands, return on ad spend (ROAS) for its brands on Meta platforms (Instagram and Facebook) was down by 23% year over year in January 2022.

For DTC brands that rely on advertising, this doesn’t bode well. In its recent IPO, Allbirds said it spent more than $55mm in marketing-related expenses in 2020. 

Meanwhile, the same year, Casper spent more than $156.8mm on advertising. Finally,  Wayfair spent nearly $1.5b. 

Other platforms are evolving as well. For example, NBC Universal has tried to reach DTC advertisers by pulling them into their online channels. 

“NBCU is offering DTC brands complete campaign consultation, from audience connections and content creation to cross-platform measurement and placement optimization,” writes Jeanine Poggi at AdAge. 

Brands will also have access to in-house data and creative teams. The move makes it clear that DTC brands are cut from a different cloth regarding advertising.

What’s Important for DTC Ad Sales?

Just like DTC brands are using new advertising strategies and platforms are evolving to meet them, ad sales to these brands will have to take on a new form. 

Sales are no longer just sales; it’s the customer journey. Support is no longer just support; it’s the customer experience. Or so go the main tenets of the DTC model. Ad sales reps will do well to play into the DTC hand.

According to research from the MediaRadar, you can expect to find some (or all) of the following attributes in DTC brands:

• Mission-driven. Many DTC brands believe in the value they are offering their customers. Their message is not about the product only; it’s often just as focused on connection or experience. For example, Allbirds’ mission is to prove that comfort, good design, and sustainability don’t have to be mutually exclusive. As more consumers prioritize missions in their purchase decision, these companies will come to the forefront. 
• Younger customer segments. Since most DTC brands are digital natives, they focus on Millennials & Gen Z customer segments. For example, a DTC brand is likelier to advertise via Instagram or TikTok than HGTV. Young consumers will continue to drive DTC brands in 2023 and beyond.
• Brand authenticity. Customers tend to be invested in a DTC brand, meaning emotional marketing works better than other models. Spending for a customer support program may not top ad spend for DTC brands, but it could come close. In fact, 90% of Americans use customer service as a factor in deciding whether or not to do business with a company.
• Quality over price. Many DTC brands take the conversation surrounding benefits vs. features marketing seriously – and product price rarely factors into their marketing strategies.
• Product specialization. In contrast to major retailers or apparel brands, DTC brands tend to specialize in a single product – or highly defined set of products. The Casper catalog – which started as a mattress and now includes just a handful of sleepytime accouterment – is a good example of this focus.
• eCommerce sales. Most DTC brands are digital natives, with sales available only online – from platforms like Amazon to their own self-hosted stores. The same goes for most marketing efforts, focusing on digital channels like social and paid search. The rise of OTT, especially among younger generations, will push ad dollars to these new ecosystems. 
• It’s all about the data. DTC brands tend to be highly analytical – they rely on metrics to appeal to their customers, make their sales, and follow up with great messaging. Most of their sales and marketing efforts are aimed at making tweaks to optimize the funnel rather than to make a big splash. That said, the downfall of third-party cookies will put them in a pickle. They’ll need to quickly find advertising alternatives to drive a return. 

These are the highlights, but they’re not the only elements that make a DTC brand unique for advertising opportunities. 

Check out our follow-up to this piece and our comprehensive guide for more specific tips on selling advertising to a DTC brand.

For more insights, sign up for MediaRadar’s blog here.

Recently, MediaRadar reviewed a sample of Twitter’s US advertising and despite an initial increase in ad investment between April and May of this year, the number of advertisers leveraging the platform decreased from 3,980 in May to a low of 2,365 in August. In October, we observed 2,315 companies buying ads on Twitter. 

To help you take advantage of the over $600mm in recently paused Twitter ad investment, we have compiled this list of quick hits of which brands and types of advertisers should actively be pitching now.

Access the full report here. 

1. Target advertisers that have recently Pulled Out of Twitter

An ever-increasing group of top advertisers and media-buying agencies have openly committed to pausing ads on Twitter among concerns regarding content moderation and brand safety, and a lack of clarity regarding advertising leadership at Twitter. 

GM, Coca-Cola, and Spotify, who together have invested over $33mm in Twitter ads this year through October, have all decided to “pause” advertising until they learn more about Musk’s content policies.

PG and Havas, and other agencies have also said they are pausing ad buys on the platform. Through October 2022, MediaRadar saw 190 brands that work with IPG (examples: Amazon, MGM, Bank of America) invested in Twitter ads. Clients partnering with these agencies invested nearly $673mm on Twitter ads through October.

MediaRadar has a full list of those brands that have pulled back or completely stopped advertising with Twitter here. These brands are your hottest prospects when it comes to capitalizing on Twitter’s recent downfall.

2. Focus on advertisers that are in categories that are top Twitter Spenders

Twitter is valued by a wide variety of companies. Advertising from the top categories was over $297m through October, but it only represented 18% of the total ad investment on the platform.

Subscription streaming services contributed 9% of total ad spend through September and the majority have announced holds to Twitter budgets.

We also observed insurance providers advertised often with Twitter. Progressive led the pack – advertising 4X more than the next advertiser in the category, Allstate. Entertainment websites had big spenders such as Daily-Stuff.com, Herald Weekly, Kueez, and Parent Influence. Combined ad spend from these sites was over $25mm. 

Other highlights include Apple contributing 93% of the Consumer Electronics’ ad spend to promote its new iPhone. Apple actually placed 84% of their paid social spend with Twitter. Musk recently called Apple out on their recent reduction in ad investment on the platform.   

3. Select Brands that previously bought Twitter Ads Exclusively

MediaRadar observed 7.1k advertisers that are exclusively advertising with Twitter. From January – October 2022 these brands invested a combined $121mm+.  

The majority of these brands fall into top categories of media & entertainment, technology, finance, services, and public services. However, 15% are from other categories, so they won’t already be on your prospect list. 

Since these brands only bought Twitter ads previously, they could be looking for new media outlets, but aren’t sure where to invest their ad budget. Now would be a good time to see if you can get a meeting. 

As Twitter adjusts to its new ownership and struggles to get its footing in the marketplace, you should target its lost and “paused” advertisers. MediaRadar can show you exactly which advertisers you should target when you should call and what you need to say to get the meeting. Try MediaRadar today and capitalize on this shifting advertising landscape.

After an initial wave of excitement, however, they lob this question over the fence: “If we bump up your budget, how much more revenue can you generate?”

As a sales leader, you likely don’t have to imagine that—this is an all-too-common reality. 

The question you have to answer: is making more money even possible?

Of course, but to find it, you need to understand—and expand—your total addressable market (TAM).  

Here’s how: 

How Do You Define TAM?

TAM, or total addressable market, is the market size for a product or service. Sales leaders and other leadership team members use TAM to understand a market’s potential revenue opportunities.

How Do You Calculate TAM?

To calculate TAM, multiply your average sales price by the number of current customers. The result is your annual contract value (ACV). Then, multiply your ACV by the total number of customers—or potential customers—who meet your ideal customer profile (more on that below). This is your TAM. 

Here’s an example: Say you’re a sales leader for a media company selling OTT ad inventory, and your ACV is $500k. To find your TAM, multiply this by the number of companies buying—or potentially buying—OTT ads. If that number’s 1,000, your current TAM is $5mm. 

(If you’re a MediaRadar client, this data is accessible via the Power Prospecting Report.) 

How Do You Expand Your TAM?

Calculating TAM gives you a baseline and a way to set expectations with your leadership team, but don’t take that number as gospel. Instead, look for ways to expand it and find more opportunities to gain market share.

How?

Ask yourself these six questions:

• What are the common characteristics of our current customers and prospects, e.g., price point, size, close time, etc.?
  
• Which industries or categories are we winning?
  
  (Pro tip: Once you know your sweet spots, get case studies to power up your reps during meetings and outreach.)
  
• Where are our current customers located?
  
  (Pro tip: If you have a high concentration of customers in a particular area, go on an old-fashioned roadshow to create more buzz in that neck of the woods.)

• How much do our current customers spend on ads? (Knowing this will help you craft your outreach strategy.)
  
• Which new entrants are making noise and gaining market share? More importantly, what do their advertising strategies look like? Are they mirroring what others are doing or blazing their own trail?
  
• What’s causing the market to grow or shift? 

The answers to these questions will come from internal sources, like your CRM or sales team, and will serve as the foundation for your ideal customer profile (ICP). From there, you can research to find opportunities that aren’t currently on your radar.

At the same time, look outside your walls for expansion opportunities. 

Industry publications like TechCrunch, competitive analyses, LinkedIn Sales Navigator and industry events can often bring you face-to-face with opportunities ripe for picking.

By asking yourself these questions and diving into the information around you, you can uncover some hidden gems that may have otherwise gone unnoticed (or assigned to sales reps).     

Thousands of Advertisers Are Spending Big in 2022—Go Get Them

Despite the COVID-19 pandemic and uncertain macroeconomic times, advertisers are still spending big. 

Between January 2021 and July 2022, nearly 13.6k companies have spent more than $500k each to promote more than 25k brands. Collectively, these advertisers have spent more than $182b. 

Imagine if just 1% of those companies aligned with your ICP and just 50% of those were undiscovered gems—that’s 68 new companies you could potentially pitch. 

What’s more interesting—and likely more advantageous to you—is how these advertisers are spending.

Of the 13.6k companies, most come from relatively smaller buckets—39% spent between $500k and $1mm, while 47% spent between $1mm and $9mm. 

The collection of smaller fish in this massive pond presents an opportunity to get advertisers with big budgets to spend even more—maybe on emerging ecosystems like OTT and CTV.  

Pro tip: If advertisers aren’t ready to increase spending, work with your marketing team to put them into a nurturing bucket. More often than not, these advertisers will eventually reach a point that warrants additional spending. When they do, reach out.

Another opportunity to expand TAM comes from how advertisers are (or aren’t) spending. 

For example, 6k of these advertisers are only investing in digital. 

While you can’t fault them for going all-in on digital, they could be leaving gains on the table by neglecting traditional formats. The same can be said about the 900 advertisers only investing in traditional formats.

Here’s a full breakdown of how advertisers diversified their marketing mixes:

• Only digital ads: 6k advertisers
• Print & digital ads: 3.5k advertisers
• Digital, print & TV: 2k advertisers
• Digital & TV: 1k advertisers
• Only print ads: 720 advertisers
• Only TV ads: 180 advertisers
• Print & TV ads: 50 advertisers

The spectrum of strategies, despite the ubiquity of advertising, illustrates that there’s not a one-size-fits-all approach to advertising. 

Almost all of these advertisers are leaving inventory on the table—and more will undoubtedly follow suit. 

Each month this year, nearly 700 companies (and more than 1.5k advertisers) have joined the $500k ad spend group, which illustrates that what your TAM is today probably isn’t what it’s going to be tomorrow. This is especially true as new ecosystems open their doors to advertisers (‘sup, Netflix?).  

What’s Next? 

Dialing in on TAM is great, but your effort will be for naught if you can’t turn those insights into closed won and generated revenue.  

So, how do you ensure these newfound opportunities turn into real value? 

A few things: 

• Rank your new opportunities: Hopefully, you’ve found many chances to carve out a bigger piece of the pie. Take those leads and rank them to ensure your best sales reps target the accounts with the most potential to impact the business. 
• Land and expand: Drill down into each company and look for ways to provide additional value. An excellent way to do this is by filtering a company by product line. This will often uncover untouched departments within a company that you can engage (and sell to).
• Study your losses: Take a look at what’s gone wrong and why you’re losing deals. What do your closed-lost deals have in common—and how can you change that narrative to close more business?  
• Work with marketing: Not everyone you come across will be ready to buy—and that’s ok. Work with your marketing team to put prospects in a nurture bucket so that you can stay in front of them until they’re ready to rumble.
• Hold your reps accountable: At the end of the day, your job as a sales leader is to put your reps in a position to succeed. This includes holding them accountable for the new opportunities you’ve given them. 

Take these steps, and the work you put into understanding and expanding your TAM will become net-new revenue for your company and help you realize your market potential.

For more insights, sign up for MediaRadar’s blog here.