The past 12 months brought a significant change for digital marketing and the global ad tech industry. Marketers are facing a significant change in targeting and measurement, given that the majority of their campaigns are built on cookies. As such, Google’s decision has given advertisers and publishers more time to find new solutions.
These cookie restrictions, coupled with the emergence of stricter privacy policies, have also made publishers look for the best AdSense alternatives and explore other options on the market. Here are my predictions for the ad tech industry in 2023.
The ad tech industry in the USA and other global emerging markets is poised for continued growth, and the top industry trends for 2023 & beyond will be around:
Connected TV (CTV)
CTV consumption and advertising have already cemented their place in the western markets, especially in the US. Other countries, like India, and China, have also started well on consumer adoption of CTV. The cheaper and easy availability of Smart TVs & dongles (Amazon Fire Stick, Chromecast, etc.), together with compelling content propositions of leading OTT players, is only going to accelerate this change going forward.
As consumers spend more time on this device and content format, ad dollars will also eventually move in this direction as the USA market will see growth for both subscribers funded SVOD (Subscription Video-on-Demand) content and advertiser-funded AVOD (Advertising Video-on-Demand) content on CTV.
Hyper-Personalization
Hyper-personalization is the game-changer within the ad tech industry. Hyper-personalization means targeting the right user at the right time on the right channel with a personalized contextual message. We see this marketing trend continue, aiding the advertisers in providing targeted experiences to consumers through segmenting and smart audience management with the help of technologies including data analytics, AI and ML.
We believe AI/ML-led contextual ads to drive app and product recommendations have just about started to take off, and this will continue to grow significantly this year and beyond.
Geotargeting
Out-of-home (OOH) advertising is making a comeback. However, we are not talking about traditional billboards, as OOH options now have become a lot more sophisticated. Advertisers can use programmatic geolocation signals and blend online & offline usage data to better connect with their audiences on the go.
While the pandemic-led lockdowns impacted this industry negatively in the previous year, we expect 2023 to be the time for it to bounce back, with the growth being driven through greater adoption of programmatic.
Augmented Reality and Virtual Reality
The increase in the popularity of Augmented / Virtual Reality is nothing new. However, after the pandemic, there has been a significant acceleration in its use. AR and VR offer a multitude of possibilities for brands to engage with consumers both online & offline, in real-world or virtual, drive branding campaigns, in-store navigation and innovative online product discovery-cum-trial that mirror a physical shopping experience.
Combined with AI, Mixed Reality (MR), having AR & VR blended together can become an extension of the human senses. Some of the global brands have been early adopters of this technology to open 24×7 Virtual Malls with online shopping experience for one’s virtual avatars or for famous gaming characters, design to testing online models of home decor, and celebrity endorsements without incurring a hefty fee for the celebrity’s physical presence across multiple locations as well as personalized marketing, revolutionizing brand and retail commerce.
Integrated Consumer Journeys
Consumer journeys online and offline have blended together, making the ad spends consumer-focused rather than media-focused. The consumer is present across multiple channels and what the advertiser wants is to reach out to the consumer across online & offline channels to drive incremental engagements at the right time, right channel, the right content, and the right price.
Platforms spans across the consumer journeys, enabling the advertiser to take a single view of the consumer and engage him/her across multiple touchpoints in both the online and offline space, with online targeting, omnichannel marketing, proximity marketing and Drive-to-Store campaigns with incremental footfall measurement in real-time.
Vernacularisation
As more and more people come online, the percentage of consumers who consume digital content in local languages is increasing every day. The pandemic has also given a huge impetus to the consumption of vernacular content. It has been said for a long that the USA is not one single market but rather a combination of several micro markets. Vernacular content and advertising is a true manifestation of this.
As a result, advertisers are looking to leverage this opportunity to reach the next 100 million new online shoppers who are likely to have a vernacular affinity in order to better contextualize their ads and improve response rates.
With 2023 set to bring significant changes to the media and marketing landscape, publishers and advertisers need to be ready to do more with less personal data.
Google’s decision to delay removing third-party cookies from Chrome has given both publishers and advertisers time to dive into new opportunities connected to personal data collection.
This year will have to be one of transparency and authenticity, with companies moving to find their unique voice and connecting to relevant audiences.
Posted from: https://www.adpushup.com/blog/adtech-trends
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