Key Takeaways from Advertising Week NY 2023

Published: October 24, 2023

This year's Advertising Week not only met but surpassed expectations, bringing together over 12,000 attendees, content creators, and well-known celebrities. Situated in the vibrant Penn District of Manhattan, the three-day event served as a showcase of the latest trends of the year and a platform for gaining insights into elevating businesses to new heights.

In this recap, we explore the most significant takeaways from Advertising Week:

TikTok #IRL:

The most significant part of Advertising Week was the reveal of TikTok Out of Phone! Prior to stepping foot inside the venue, TikTok IRL was everywhere! Times Square and the streets of New York City were adorned with real-life examples of what TikTok campaigns look like on real-world screens.

On the second day of the event, Tim Natividad, US Head of Enterprise Sales at TikTok, unveiled an exciting development: TikTok was extending its reach 'Out of Phone.' This expansion brought forth significant partnerships with renowned brands such as Adomni, GSTV, Loop TV, ReachTV, Redbox, Screenvision, VEVO, and many more. This new frontier aims to connect with growing audiences while amplifying the impact of brands' advertising campaigns.

CEO of Adomni, Jonathan Gudai, Dan Page of TikTok, Avi Ben-Zvi from Winclap, and Kim Iadevaia of Influential took the stage to show how brands such as CeraVe, Marc Jacobs, and Carolina Herrera have harnessed Adomni to transform their TikTok content onto real-world screens. This not only piques the interest of on-the-go audiences but also garners authentic reactions on TikTok, amplifying their reach and impact. And brands can take audience engagement to the next level, encouraging their fans to craft videos featuring their products, with a chance to be featured on a huge screen! From TikTok famous to billboard famous in a matter of seconds.

All About AI:

With over a dozen AI-related presentations, this week could easily be dubbed "AI Week.” President of OAAA, Anna Bager, stated, “In 2022 there was so much about the metaverse, but that pales in comparison to the impact AI is having across the advertising industry and that is obviously going to be very apparent at this year’s Advertising Week New York.” The recent mathematical model breakthroughs have set the stage for advertisers and brands to harness generative AI to supercharge their business.

Although AI is undoubtedly exciting, there is a degree of apprehension regarding the impact this technology has on creativity. Megan Cunningham, CEO and Founder of Magnet Media, dwindles concerns, saying her company is implementing AI to enhance efficiency and streamline workflow, ultimately focusing on empowering brand marketers in their storytelling efforts. She views AI as a valuable tool to eliminate redundant tasks and act as a copilot to humans, functioning as an enhancement rather than a replacement.

Another topic that garnered attention about generative AI was related to data privacy regulations. Brian Quinn, the CEO of AppsFlyer, a company specializing in measurement and engagement solutions for digital enterprises, has long integrated privacy considerations into their brand framework. With the rapid evolution of generative AI, they have implemented it within their privacy-focused infrastructure, introducing a Dynamic Query Engine. The primary goal of this new technology is to empower marketers and their peers by infusing logic into their data, providing them with a robust and user-friendly tool for accessing marketing data.

Connecting with Gen Z:

A hot topic among advertisers was finding ways to relate to Gen Z audiences. According to Bloomberg, Gen Z has $360 billion in buying power, yet brand loyalty is not their strong suit. So, the big question was, how do brands get in front of Gen Z shoppers?

The Marketing Society went above and beyond, passing the microphone to four Gen Zers, providing an opportunity to gain insights into how brands are resonating with them. It appears that word-of-mouth, peer reviews, and social media play pivotal roles in how Gen Zers discover and engage with brands. Considering their heavy reliance on brand advice from friends and content creators, it's absolutely crucial to leverage these creators as powerful advocates and conversation starters for your brand while staying transparent and honest.

Stacy Taffet, SVP of Marketing, shares that Pepsico products stay relevant with the younger generation by refocusing on partnering with online creators instead of traditional celebrities. They’ve also shifted their media channels to focus on digital marketing instead of traditional outlets to meet Gen Z where they are.

Content Creator and Podcaster Drew Afualo underscores this perspective, noting that it's often challenging to connect and resonate with conventional celebrities. In contrast, Gen Z can readily identify with and envision themselves in the shoes of these online creators.

Mattel Gets Comfortable with Being Uncomfortable:

Mattel’s Barbie took the world by storm this summer, and it seemed only fitting to hear her name throughout Advertising Week discussions. They even transformed the Web 3.0 room into a Barbie beach hut wonderland!

Marketers are donning their best pink outfits and taking notes, eager to learn how to generate the kind of buzz that Barbie commanded for their own brands.

Lisa McKnight, Chief Brand Officer at Mattel, graced the stage to offer us an exclusive glimpse behind the scenes of this global phenomenon. However, the journey was far from the seamless success that brands might assume. For a considerable period, Barbie's brand experienced a downturn, as parents began to shy away from purchasing her products, saying she lost her role model touch. The journey to brand affinity required a huge overhaul, meaning Mattel had to place more trust in external expertise and insights.

A valuable lesson gleaned from "the Summer of Barbie" is the importance of enveloping companies with a multi-dimensional brand presence, achieved through strategic collaborations, diverse product collections, and culturally resonant marketing initiatives. Instead of sticking to a single advertising approach, it's essential to sustain the excitement by exploring various channels and avenues and being open to stepping out of your comfort zone.

Brands are finding ways to gain momentum by taking a page from Barbie's book and relying on their community. Isha Patel, CEO of Kale, sheds light on TikTok's role in rapidly shaping and reshaping trends. The brands that master this art are the ones seamlessly integrating themselves into their consumers' daily routines. And one way brands need to do this is by getting uncomfortable by giving autonomy to their superfans to shine a light on your product. For example, a chocolate brand rode the Barbenhiemer wave by allowing consumers to choose between strawberry and dark chocolate flavors before they settled in to watch a movie. This serves as a prime example of product positioning while capitalizing on a cultural moment!

Advertising Week was a resounding success, bringing together leading experts in the advertising realm to exchange insights and explore the latest trends. The experiences shared during this event will serve as a guiding light for brands and advertisers seeking to develop strategies that effectively resonate with today's diverse and dynamic consumer base. For further details, please visit https://advertisingweek.com/event/awnewyork-2023/.

Written By: Julia Cramer

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