How are you adjusting to rising inflation of cost per engagement (CPE) spend across digital marketing? Do you think your org will scale back digital advertising?

I am adjusting to the rising inflation of CPE spend across digital marketing in a few ways:

Focusing on more targeted advertising. By targeting my ads to people who are more likely to be interested in what I have to offer, I can reduce the amount of money I waste on ads that are not seen by the right people.

Using more creative ad formats. Creative ad formats, such as video ads and interactive ads, can be more effective than traditional image ads at engaging users. However, they can also be more expensive. I am trying to find a balance between using creative ad formats and staying within my budget.

Testing different ad platforms. There are many different ad platforms available, each with its own strengths and weaknesses. I am testing different platforms to see which ones are most effective for me.

Using data to optimize my campaigns. I am using data to track the performance of my campaigns and identify areas where I can improve. For example, I can use data to identify which ads are performing well and which ones are not. I can then adjust my campaigns accordingly.

I consider it impossible to scale back on digital advertising nowdays. As a big brand, it is important to have a strong digital presence, so we will keep the same budget allocated to those digital advertising campaigns, but we will certainly also prioritize the development of new strategies to get good results and thus compensate for the increase of the CPE. 

We still do the same lifetime budget for our campaigns. We haven't looked into upping our spend but we just get less CPE now with a lower budget.

Things are changing a lot, except for the biggest brands, that can't be out of traditional media, I see a lot of cutting on tradional media and increasing in digital media. There's some brands that focus more on getting better quality engagements, while others might venture into new platforms or even double down on organic methods like SEO and content marketing. Digital ads can be expensive, but with the right strategy, it's possible to achieve great results, specially leveraging the real time metrics you get.