Marketing is Getting Harder. But Paid Media is Getting EASIER?

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Business, Careers

4.6 • 1.4K Ratings

🗓️ 23 July 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2517, we discuss the statement “Marketing is getting harder. But paid media is getting easier” and whether or not it is true. Neil sheds light on factors like AI and cutbacks in ad spending to explain why some believe that this statement is true before explaining why he disagrees with it. You’ll hear about privacy changes and automatization and what this means for creative strategy and people who work in marketing and paid media. In order to survive, you need to evolve, so tune in to find out how developments in the marketing industry may affect you and where to focus your efforts for maximum ROI! TIME-STAMPED SHOW NOTES: [00:00] Today’s topic: Marketing is getting harder. But paid media is getting EASIER? [00:17] Why Neil thinks paid media is getting easier: AI and ad spend cutbacks. [00:31] The main reason Neil disagrees with this statement: the privacy changes. [01:07] What this means for creative strategy and people in paid media? [02:00] How paid media is affected by automatization. [03:06] AI and how it will affect the work of creatives. [03:29] Google and its relationship with agencies. [04:01] The need to evolve in order to survive. [04:47] Predictions for the future. [05:02] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! Google Ads Google I/O Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	marketing is getting harder but paid media is getting easier so this is a quote that I heard recently
0:06.6	and I thought it'd be interesting for us to talk about because I brought this up I brought this up to
0:11.5	people on my paid media team and they didn't like
0:13.7	I said this quote I actually disagree with it too I know a lot of people are
0:18.0	saying paid is getting easier and they're saying paid is getting easier because of two
0:21.4	things AI helping them with campaigns,
0:23.9	but the bigger one is because of the economy,
0:26.0	a lot of people are cutting back on ad spend,
0:28.6	so it's getting easier for them to produce the ROI.
0:31.2	But the main reason I disagree with this this with all the privacy changes, just
0:34.7	look at Facebook.
0:35.7	It was much easier to generate an ROI from Facebook ads when they had all that data until
0:40.7	iOS blocked up, right?
0:42.3	And then Google's going to end up doing the same thing as well
0:44.9	but paid used to be much easier when these platforms had so much data I'm not saying
0:50.8	it's a good thing that they had a data or a bad thing I'm just saying it's a good thing that they had a data or a bad thing. I'm just saying it's a reality and now yes there's a lot of tools out there that can make your
0:57.6	campaigns a little bit more efficient, but that doesn't really matter. Your job from paid marketing is you spend a dollar and you
1:03.7	need to make more and it's harder to do that now than it was before. So here's
1:08.1	what I'll say. I think there's a connecting point with these two statements. So again
1:11.3	the statement is marketing is getting
1:14.2	easier. The X factor that connects these two comes down to creative at the end of the day.
1:19.1	And so what this just means is as a paid media person in the past you might have said oh well paid
	...

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