In the rapidly evolving world of digital marketing, staying ahead of the curve is crucial. As we look towards the future, it's clear that the landscape of digital ad buying is set to undergo significant changes. This article will delve into the upcoming trends and predictions that are set to shape the future of digital ad buying across various platforms.
1. Increased Use of Artificial Intelligence (AI) and Machine Learning (ML)
Artificial Intelligence (AI) and Machine Learning (ML) are technologies that allow for more precise targeting, efficient ad spend, and improved ROI. They can analyse vast amounts of data to identify patterns and trends that humans might miss, enabling marketers to make more informed decisions.
Agencies are leveraging these technologies to automate repetitive tasks, freeing up time for more strategic work. For instance, AI is being used to generate captions for clients and create images for creative pitches, significantly speeding up work efficiency. This increases efficiency and allows for more personalised and effective ad campaigns. Those who do not adopt these technologies risk falling behind in terms of efficiency, cost-effectiveness, and the ability to deliver personalised experiences to their audience.
To learn more about AI and ML, consider taking online courses on platforms like Coursera or edX, or reading books such as "Artificial Intelligence: A Modern Approach" by Stuart Russell and Peter Norvig.
2. Programmatic Advertising Will Continue to Dominate
Programmatic advertising refers to the automated buying and selling of online advertising. This process uses AI to automate the decision-making process of media buying by targeting specific audiences and demographics.
Agencies are using programmatic advertising to streamline the ad buying process, reducing the time and resources required. The benefit of using programmatic advertising is its wider reach and the ability to observe user attribution behaviour on a single platform, rather than managing ads across multiple platforms. Those who do not adopt programmatic advertising may find it increasingly difficult to compete in terms of speed, efficiency, and the ability to reach the right audience at the right time.
For a deeper understanding of programmatic advertising, you might want to explore resources like the Interactive Advertising Bureau's (IAB) guide to programmatic advertising or take a course on a platform like LinkedIn Learning.
3. Rise of Social Commerce
Social commerce is the use of social media platforms to promote and sell products and services. Brands are leveraging the power of influencers and User Generated Content (UGC) to drive sales through these platforms.
With the rise of micro-influencers, who often have lower costs, SMEs are finding it more accessible to try out UGC marketing. Platforms like TikTok's Creator Marketplace are making it easier for businesses to find suitable influencers quickly.
Agencies are helping brands to navigate this new landscape, using their expertise to create effective social commerce strategies. Those who do not embrace social commerce risk missing out on a significant and growing channel for reaching consumers and driving sales.
To learn more about social commerce, consider reading books like "Social Commerce: Marketing, Technology and Management" by Efraim Turban, or following relevant blogs and podcasts in the field.
4. Privacy and Data Security Will Take Centre Stage
Data privacy refers to the aspect of information technology that deals with the ability of an organisation or individual to determine what data in a computer system can be shared with third parties. With increasing concerns about data privacy and security, advertisers will need to navigate these issues carefully. Recent updates to Apple's iOS, for example, have restricted advertisers from tracking user behaviour accurately, posing new challenges for digital marketers.
Agencies are helping brands to comply with these new regulations, while still delivering effective ad campaigns. Those who fail to adapt to these changes risk damaging their reputation, losing consumer trust, and potentially facing legal consequences.
For those interested in learning more about data privacy and security, consider enrolling in online courses on platforms like Udemy or Coursera, or following relevant blogs and news sites.
In conclusion, the future of digital ad buying is set to be dynamic and exciting, with numerous opportunities for those willing to adapt and innovate. By staying informed about these trends and predictions, marketers can position themselves to make the most of these changes and drive success in their digital ad campaigns.