Financial, Travel, and Automotive Advertising Make a Comeback

Written By

Liz Iversen

Published On

Thursday, Jan 06

Ad spending is making a comeback in several industries that were negatively impacted by the pandemic, including financial services, travel marketing, and automotive. According to Ad Age Datacenter, spending for the world’s 100 biggest advertisers fell 7.1% to $278 billion in 2020. Here’s a look at how ad spending rebounded in 2021.

Financial services 

The first nine months of 2021 saw double-digit ad spend percent increases for Capital One, Bank of America, JPMorgan Chase, and Citigroup, denoting a major rebound for the financial services category after Capital One fell 29% in 2020. 

Travel marketing

Travel marketing hit spending lows in 2020 but has since returned to near-normal. According to Inside Radio, Expedia and Booking Holdings were up 90% and 58% in ad spend during 2021’s first nine months, compared to their respective 66% and 56% dives in 2020.

Automotive 

The automotive industry shows signs of growth despite the ongoing chip shortage. After a 27% spend decline in 2020, General Motors increased ad spend in 2021. And the used car business has also propelled spending gains. For example, Carvana saw a 71% lift in 2021.

Ad Age Datacenter also reported substantial growth in the consumer packaged goods and sports betting categories. After mixed ad spend in 2020, the consumer packaged goods category is now substantially increasing ad spend. Coca-Cola’s spend is approaching pre-COVID levels, up 50% after 2020’s 35% decline. Colgate-Palmolive and Procter & Gamble have also increased spend. 

Meanwhile, sports betting’s pandemic gains have continued. FanDuel and Fox Bet parent company Flutter Entertainment increased its spend 35% in 2020 and more than tripled its U.S. ad dollars during the first half of 2021, according to Inside Radio. 

At the start of 2022, things are looking up for the advertising industry. WPP’s GroupM predicted global advertising would reach an all-time revenue high of $763 billion in 2021 and grow another 9.7% in 2022.

Are you ready to be a part of 2022’s advertising comeback? Contact SMI today to find out how to hear your brand’s message on radio and podcasts.

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Ad spending is making a comeback in several industries that were negatively impacted by the pandemic, including financial services, travel marketing, and automotive. According to Ad Age Datacenter, spending for the world’s 100 biggest advertisers fell 7.1% to $278 billion in 2020. Here’s a look at how ad spending rebounded in 2021.

Financial services 

The first nine months of 2021 saw double-digit ad spend percent increases for Capital One, Bank of America, JPMorgan Chase, and Citigroup, denoting a major rebound for the financial services category after Capital One fell 29% in 2020. 

Travel marketing

Travel marketing hit spending lows in 2020 but has since returned to near-normal. According to Inside Radio, Expedia and Booking Holdings were up 90% and 58% in ad spend during 2021’s first nine months, compared to their respective 66% and 56% dives in 2020.

Automotive 

The automotive industry shows signs of growth despite the ongoing chip shortage. After a 27% spend decline in 2020, General Motors increased ad spend in 2021. And the used car business has also propelled spending gains. For example, Carvana saw a 71% lift in 2021.

Ad Age Datacenter also reported substantial growth in the consumer packaged goods and sports betting categories. After mixed ad spend in 2020, the consumer packaged goods category is now substantially increasing ad spend. Coca-Cola’s spend is approaching pre-COVID levels, up 50% after 2020’s 35% decline. Colgate-Palmolive and Procter & Gamble have also increased spend. 

Meanwhile, sports betting’s pandemic gains have continued. FanDuel and Fox Bet parent company Flutter Entertainment increased its spend 35% in 2020 and more than tripled its U.S. ad dollars during the first half of 2021, according to Inside Radio. 

At the start of 2022, things are looking up for the advertising industry. WPP’s GroupM predicted global advertising would reach an all-time revenue high of $763 billion in 2021 and grow another 9.7% in 2022.

Are you ready to be a part of 2022’s advertising comeback? Contact SMI today to find out how to hear your brand’s message on radio and podcasts.

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When it comes to audience targeting, nimbleness, and reach–the evidence is clear: audio advertising is a wise investment.  

That being said, marketing managers are more often forced to justify ad spend with ever increasing returns on investment. Budget and talent constraints–no matter how remarkable your product or service is–often put your brand at a disadvantage when it comes to breaking through the noise and seeing any meaningful ROAS (Return on Ad Spend) so relying on great creative alone is not enough. A multifaceted approach is paramount.

In order to launch, scale, and optimize a campaign for success, strategizing where and when your ad is heard is critical.

A group of gears stacked on each other

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

influencers streaming a podcast at college radio station

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

A group of gears stacked on each other

We have the Expert Infastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation. 

 

 

influencers streaming a podcast at college radio station

Collaboration Yields Results

Senior Media Buyer, Pam Wolfgram underscores the importance of our industry relationships:  

“Our media partners are exactly that: partners. They have a vested interest in helping us help our clients; it means more business! Even if they have to take it on the chin here and there for a client’s success–and they do–they know they’ll make it up in the long game, as we will send them every schedule that makes sense down the road. They want to work hard for us and for our clients.

As an example, we recently orchestrated a massive creative change affecting over 600 stations and it had to go off without a hitch, as “hitches” are mistakes that lead not only to credits being taken, but also to skewed results that make a test difficult to read. I reached out to every rep impacted by the change to express the importance of the test and walked away feeling completely at ease knowing that they were going to get with their traffic people and watch over the test like hawks. A little extra communication goes a long way!” 

All of SMI’s media buyers, researchers, and strategists have something in common: they know firsthand the value of respectful dialogue and perseverance. 

The motto of our Media team? 

There's always a workable solution to get meaningful return on ad spend. 

If you’re ready to invest more wisely in your audio advertising, start a conversation with us today! 

This is part one of SMI’s three-part series called Give Your Brand a Voice. Stay tuned for our next article focused on Creative! 

    facebook
    twitter
    linkedin
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[/et_pb_row]
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When it comes to audience targeting, nimbleness, and reach–the evidence is clear: audio advertising is a wise investment.  

That being said, marketing managers are more often forced to justify ad spend with ever increasing returns on investment. Budget and talent constraints–no matter how remarkable your product or service is–often put your brand at a disadvantage when it comes to breaking through the noise and seeing any meaningful ROAS (Return on Ad Spend) so relying on great creative alone is not enough. A multifaceted approach is paramount.

In order to launch, scale, and optimize a campaign for success, strategizing where and when your ad is heard is critical.

A group of gears stacked on each other

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

influencers streaming a podcast at college radio station

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

A group of gears stacked on each other

We have the Expert Infastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation. 

 

 

influencers streaming a podcast at college radio station

Collaboration Yields Results

Senior Media Buyer, Pam Wolfgram underscores the importance of our industry relationships:  

“Our media partners are exactly that: partners. They have a vested interest in helping us help our clients; it means more business! Even if they have to take it on the chin here and there for a client’s success–and they do–they know they’ll make it up in the long game, as we will send them every schedule that makes sense down the road. They want to work hard for us and for our clients.

As an example, we recently orchestrated a massive creative change affecting over 600 stations and it had to go off without a hitch, as “hitches” are mistakes that lead not only to credits being taken, but also to skewed results that make a test difficult to read. I reached out to every rep impacted by the change to express the importance of the test and walked away feeling completely at ease knowing that they were going to get with their traffic people and watch over the test like hawks. A little extra communication goes a long way!” 

All of SMI’s media buyers, researchers, and strategists have something in common: they know firsthand the value of respectful dialogue and perseverance. 

The motto of our Media team? 

There’s always a workable solution to get meaningful return on ad spend. 

If you’re ready to invest more wisely in your audio advertising, start a conversation with us today! 

This is part one of SMI’s three-part series called Give Your Brand a Voice. Stay tuned for our next article focused on Creative! 

    facebook
    twitter
    linkedin
[/et_pb_section]
[/et_pb_column]

When it comes to audience targeting, nimbleness, and reach–the evidence is clear: audio advertising is a wise investment.  

That being said, marketing managers are more often forced to justify ad spend with ever increasing returns on investment. Budget and talent constraints–no matter how remarkable your product or service is–often put your brand at a disadvantage when it comes to breaking through the noise and seeing any meaningful ROAS (Return on Ad Spend) so relying on great creative alone is not enough. A multifaceted approach is paramount.

facebook
twitter
linkedin
[/et_pb_social_media_follow][/et_pb_column]
In order to launch, scale, and optimize a campaign for success, strategizing where and when your ad is heard is critical.

A group of gears stacked on each other

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

influencers streaming a podcast at college radio station

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

A group of gears stacked on each other

We have the Expert Infastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation. 

 

 

influencers streaming a podcast at college radio station

Collaboration Yields Results

Senior Media Buyer, Pam Wolfgram underscores the importance of our industry relationships:  

“Our media partners are exactly that: partners. They have a vested interest in helping us help our clients; it means more business! Even if they have to take it on the chin here and there for a client’s success–and they do–they know they’ll make it up in the long game, as we will send them every schedule that makes sense down the road. They want to work hard for us and for our clients.

As an example, we recently orchestrated a massive creative change affecting over 600 stations and it had to go off without a hitch, as “hitches” are mistakes that lead not only to credits being taken, but also to skewed results that make a test difficult to read. I reached out to every rep impacted by the change to express the importance of the test and walked away feeling completely at ease knowing that they were going to get with their traffic people and watch over the test like hawks. A little extra communication goes a long way!” 

All of SMI’s media buyers, researchers, and strategists have something in common: they know firsthand the value of respectful dialogue and perseverance. 

The motto of our Media team? 

There’s always a workable solution to get meaningful return on ad spend. 

If you’re ready to invest more wisely in your audio advertising, start a conversation with us today! 

This is part one of SMI’s three-part series called Give Your Brand a Voice. Stay tuned for our next article focused on Creative! 

[/et_pb_column]

When it comes to audience targeting, nimbleness, and reach–the evidence is clear: audio advertising is a wise investment.  

That being said, marketing managers are more often forced to justify ad spend with ever increasing returns on investment. Budget and talent constraints–no matter how remarkable your product or service is–often put your brand at a disadvantage when it comes to breaking through the noise and seeing any meaningful ROAS (Return on Ad Spend) so relying on great creative alone is not enough. A multifaceted approach is paramount.

[/et_pb_column]
twitter
linkedin
In order to launch, scale, and optimize a campaign for success, strategizing where and when your ad is heard is critical.

A group of gears stacked on each other

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

influencers streaming a podcast at college radio station

We Have the Expert Infrastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation.

A group of gears stacked on each other

We have the Expert Infastructure

In addition to SMI’s dedicated Creative and Analytics teams, our media buyers and strategists have deep industry relationships and format connections.  

Our Media team works in tandem with Client Services to understand the target demographics and geographical considerations alongside the short and long-term goals of our clients. Their combined expertise, in collaboration with our Analytics team, allows us to be vigilant in evaluating and communicating campaign performance in real time.  

Because our buyers and strategists have built and nurtured relationships with stations, agencies, and shows–we are also able to pivot precisely and aggressively if need be. Even in the days of such potent technology and automation, sometimes a format or rate adjustment simply comes down to the power of a well-handled telephone conversation. 

 

 

influencers streaming a podcast at college radio station

Collaboration Yields Results

Senior Media Buyer, Pam Wolfgram underscores the importance of our industry relationships:  

“Our media partners are exactly that: partners. They have a vested interest in helping us help our clients; it means more business! Even if they have to take it on the chin here and there for a client’s success–and they do–they know they’ll make it up in the long game, as we will send them every schedule that makes sense down the road. They want to work hard for us and for our clients.

As an example, we recently orchestrated a massive creative change affecting over 600 stations and it had to go off without a hitch, as “hitches” are mistakes that lead not only to credits being taken, but also to skewed results that make a test difficult to read. I reached out to every rep impacted by the change to express the importance of the test and walked away feeling completely at ease knowing that they were going to get with their traffic people and watch over the test like hawks. A little extra communication goes a long way!” 

All of SMI’s media buyers, researchers, and strategists have something in common: they know firsthand the value of respectful dialogue and perseverance. 

The motto of our Media team? 

There’s always a workable solution to get meaningful return on ad spend. 

If you’re ready to invest more wisely in your audio advertising, start a conversation with us today! 

This is part one of SMI’s three-part series called Give Your Brand a Voice. Stay tuned for our next article focused on Creative!