2017 has seen a rise in emerging technologies, new platforms and regulations around privacy, movements towards transparency, net neutrality, etc. especially as the year draws to a close. It is interesting to know how advertising companies are facing the challenges while getting a grip on new tools to up their game. Let’s take a look at this on a two-fold dimension.
Challenges
With GDPR (General Data Protection Regulation) taking place in May 2018, companies who have been marketing in the EU will have to take into consideration how they will collect and utilise user data. On the other hand, floodgates to user data have been opened in the US.
Platforms and Ad tech firms lie on different grounds. Google is faced with antitrust charges from the European Commission for favouring their own shopping engine to the point of hurting competing shopping engines, imposing restrictions on Google Adsense Search contract that limits the display of search ads from its competitors and the mandatory requirement for Android makers to pre-install Google Chrome and Google search as default search apps.
Retargeting may significantly improve with AI technology in predictive advertising, coming up with more personalised strategies that produce results.
More of a prediction rather than a trend, the coming of Addressable TV will use audience data as an alternative mode of digital advertising in harnessing first-party data, which could position it as a threat to Google and Facebook.
A group of nearly 20 Ad tech firms have come together to create The Advertising ID Consortium that will use Open AD ID that let brands target audiences using their email list. The move is a response to paywalls that limit ad firms' access to audience data.
Technology and Platforms
Machine Learning is out, so it is “in.” Machine learning is the application of Artificial Intelligence that gives computers the ability to learn by itself and improve experience without being explicitly programmed. That being said, the ability for AI programs to understand and interpret audience’s behaviour on the platforms (web, mobile) will improve both consumer experience (say, at the stage of search) and conversion (at one point in their buying journey). Machine learning is at its best when it allows brands to respond to a consumer need at the right moment and the right place, as needed. On this area, high-level personalisation also comes into play and is also a major trend that will gain focus in 2018.
Dark Social is the other side of social where people are sharing articles, videos and images on a less-monitored channel with an added layer of security for users. Examples of these include Facebook Messenger, WhatsApp, WeChat, Email, native mobile apps, and secure browsing. It was reported that dark social accounts for 84% of outbound sharing. This makes it an area of interest for marketers to invest on in 2018.
Video advertising is, no doubt, a popular medium of advertising. How many stories do we come across and pay attention to on social media is an indicator that stories in the form of videos appeal to many audiences. People perceive it to be as a natural form of advertising that has the power to convey a message in a very short span of time. The demand is significant in the younger generation and is predicted to continue its already incredible growth in the coming year.
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