With the new year on the horizon, some of the biggest game-changers for credit unions to keep an eye out for are the new tactics for programmatic advertising . While programmatic is one of the best ways to ensure your credit union reaches the right audience at the right time and place, it can be a complex space to navigate.
That said, credit unions must be aware of the disruptions that will arise. For example, Google may have delayed the phasing out of third-party cookies from Q2 of 2022 to 2024, but programmatic advertisers and the AdTech industry have already begun preparing for the coming impact on frequency capping, audience targeting, retargeting, and measurement.
As a result, more conversations are exploring the potential of first-party data and user intelligence, as well as the emergence of new cookieless advertising platforms and solutions that don’t require information supplied by third-party cookies, such as user ID graphs.
3 Key Programmatic Advertising Channels for 2023
To help you stay atop of emerging trends, here are three of the most relevant programmatic advertising channels to nail your credit union marketing in 2023.
1. Programmatic Digital Out-of-Home (DOOH)
With consumers no longer cooped up indoors, digital out-of-home (DOOH) advertising has resurged — 76% of marketers plan to increase their DOOH advertising budgets in 2023 to take advantage of the many digital ad screens popping up around the country.
While DOOH advertising lets you reach a large audience in a particular geographic area, programmatic DOOH, which mirrors the audience-driven buying process of digital ads, provides even more precision and creative possibilities.
What this means for credit unions:
DOOH offers credit unions the opportunity to create dynamic, contextual, and data-rich experiences in relevant locations, such as busy streets near their branches, so their target audience can learn more about their products and services.
2. Over the Top (OTT) and Connected TV (CTV) Ads
OTT (all internet-accessible streaming services) and CTV (smart TVs and connected devices that allow users to stream content over the internet) are increasingly relevant programmatic ad channels targeting the growing number of cord-cutters. Additionally, with Netflix and Disney+ ads becoming accessible to brands in early 2023, expect a rise in programmatic OTT and CTV ad inventory.
The best part of OTT and CTV is that their level of audience targeting goes far beyond traditional factors like location, gender, or age. Instead, you can personalize segments according to demographic, behavioral, time-of-day, technographic, contextual, and hyper-local geographical data. In other words, OTT and CTV ads are powerful credit union marketing channels for ensuring relevance and high ROIs.
What this means for credit unions: OTT and CTV ads build brand awareness and recognition within highly specific audiences, such as people who most resemble your current members. By helping your target audience become more familiar with your brand, you can differentiate your credit union from other financial institutions and drive consideration by clearly communicating the benefits of banking with you.
3. Contextual Advertising
Though not a new channel, contextual advertising’s popularity has increased with the deprecation of third-party cookies. Recent innovations in programmatic contextual advertising allow platforms to better identify context using semantics and user behavior metrics, helping ensure ads are relevant and drive engagement.
What this means for credit unions: Consider creating contextual ads targeting distinct keywords (“checking account” or “credit card”) or topics relevant to your brand (“money management tips”). The goal is to connect with your target audience in a way that feels natural and provides value, rather than be disruptive or intrusive.
With the shift to privacy-first advertising, the transformation of the programmatic advertising industry will continue well into 2023. However, for credit unions to reap the benefits of these programmatic advertising channels, they need to proactively build a solid first-party data infrastructure or work with experts who can leverage the right trends, tools, and strategies to unlock results.
With our in-house AI-powered technology and data-driven strategies,
Power Marketing can take your credit union marketing efforts to new heights in 2023.
