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With Digital Transformation, How Adtech Industry Is Setting A Benchmark For The Future Generation

With Digital Transformation, How Adtech Industry Is Setting A Benchmark For The Future Generation

Things change quickly in ad tech, and accomplishment within this industry relies on a business' capacity to adjust to these changes

Wherever consumer behaviour has shifted, advertising spend has adjusted in response

The age of AI has begun and we are driving behind-the-scenes innovation that brings artificial intelligence into our daily lives

The world is presently under Covid-19 impact and experiencing an enormous amount of difficulty and spending on your brand’s image through conventional marketing platforms is a costly affair and is less powerful, while the digital aspect of it is cheaper and generates better exposure for a brand. Combined with an effective target audience, a brand may even accumulate faithful clients through this pandemic. In these uncertain times, organizations are moving towards digital platforms and grasping the transformation with the expansion of remote working and a collaborative approach.

In the coming months, organizations will turn out to be more dependent than ever on their digital strategy. Without wanting to sound doomsayer, it will be the deciding factor in whether they endure the difficult times ahead. The unprecedented, almost absolute vanishing of all channels related to live events, gatherings and conferences, and the increasing hindrances on face-to-face business, pose an enormous challenge. Key to resilience is the improvement of continuous possibilities to alleviate against this loss.

Things change quickly in ad tech, and accomplishment within this industry relies on a business’ capacity to adjust to these changes. However, staying tuned in to the latest trends and developments in the business, and attempting to provide solutions that react to these changes, will assist organizations to overcome the difficulties that accompany them.

The extent of ad tech is rising with endless potential. The escalating demand for better solutions is transforming the traditional methods of online advertising let alone altering the way the audience interacts with sponsored content. We must accept that evolution is a conclusive attribute of our industry and innovation should be our priority.

As of now, we’re seeing the early effect of this shift to a more digital society. As more and more individuals are being asked to remain at home, we’re observing an ascent in digital video and associated TV impressions. Our internal research shows a 10% week-over-week increase in ad opportunities globally. Wherever consumer behaviour has shifted, advertising spend has adjusted in response. It makes no sense for advertisers to spend on media that have no audience.

As confinement measures were imposed all over the world, out-of-home and film advertising shrank quickly; print advertising likewise fell. In the meanwhile, in-home media use went up. Television viewership has climbed, yet digital consumption has expanded much more: utilization of social stages and web-based services has risen all over; gaming has likewise developed drastically.

The age of AI has begun and we are driving behind-the-scenes innovation that brings artificial intelligence into our daily lives. AI platforms can help the web publishers access the power of video content and advertising, boosting their monetisation by at least 50%. Along with it, the platform will help identify consumers with targeted advertising, thus getting their money’s worth.

TV viewers have increased. More people are watching more streaming services. Viewership of different programming channels has increased in comparison to last year. With all these new consumer behaviours, the ad tech world will change more over the next six months than it has in the course of recent years.

Advertisers have adjusted by following buyers, which means prioritizing digital advertising. Video advertising is at its predominant stage wherein next decade, 86% of marketers will be using content to advertise, educate and entertain. Likewise, to give consistent way publishers and advertisers, new formats are rising in consumption to bolster video as an effective and engaging medium.

With technological advancements, publishers are now being exposed to new formats for advertising.  For example, app-based video advertising forecasts state that there will be an expansion of 78% in 2018 to 84% in 2023. This shows that even though video advertising is necessary, specifically zeroing in on mobile video can help brands to get more clients, increased sales, and more prominent brand growth.

The development of video personalisation has also been encouraged by a growth in the innovation and software sector, with new platforms making it simpler. There is clear consumer demand for ad-supported streaming video services – evidenced by their proliferation around the world. Today, video content is all the way more captivating and it is more open to the audience who are watching it.

Hence, there is no contradicting that video is quickly becoming one of the most dominant types of content consumption. While all the significant web-based media platforms, such as websites, social media and portals are moving to video content at a rapid rate, still there is a requirement for the majority of publishers to get access to cutting edge video hosting, distribution and monetisation solutions. There are various platforms which provide video hosting and distribution of advertisements and monetisation solutions.

For what it’s worth, digital ads also breathe a specific sense of engagement with the users. It lets a brand comprehend their client’s behaviour from time to time. This tracking of user engagement is especially helpful during this economic unrest as it decreases a significant amount of cost associated in the manufacturing a product that is not very well perceived by their customers.

Digital also has the transparency of the cost incurred during an ad campaign. With conventional marketing campaigns, one needs to think about how their advertisements are performing by looking at the sales graph before and after the campaign. Whereas with digital advertising, a brand can screen when, where and how to spend their budget on advertising. This lets a brand’s marketing budget go longer and to the more extensive crowd.

This savvy method of portraying a brand’s ads on explicit platforms is prevailing with the top brands. The world is changing and how brands change themselves as indicated by it, is important. Proper education and awareness about digital advertisements and transparent results will go a long way in securing a permanent seat at the marketing strategies.

All things considered technology companies, with analytics and ad auction technologies, have a head start about how to do this compared with other players in the industry. Indeed, the expectation is that digital advertising will continue to grow in the future.

As ad spend lessens in general, spending on digital platforms has reduced more slowly. In the longer-term, this may reinforce the position of digital platforms in two different ways. Firstly, they seem to be suffering less in comparison with others in the advertising ecosystem, empowering them to rise quicker and stronger from the crisis. Secondly, they own behavioural data gathered during the pandemic. In an industry where all players are attempting to comprehend consumer habits, this will give platforms a competitive edge going forward.

We believe that ultimately most of the advertising will move from TV, Print, and other conventional formats to the Digital format. There is a solid basic need for innovation in digital. With regards to video advertisements, Augmented Reality (AR) and Virtual Reality (VR) are some of the key regions where there would be lots of innovation going ahead.

Eventually, we would devour significantly more videos, but we will not consume videos in the 2D format that we are acquainted with but we will be consuming videos in a 3-Dimensional environment or an Augmented Reality environment as products like Oculus will get cheaper and more available in the mass market. We see the industry moving in that direction in the next few quarters.

Video advertising will offer credible opportunities for calls-to-action that get users to proceed on the spot. This will be accomplished by making persuading video stories and promoting them in non-meddling ways through which viewers can permit and remain in control of their online viewing practice.  Innovative methodologies have given marketers and advertisers supreme adaptability with modern video. The visual content is thriving today, and all is good and well for marketers and advertisers to completely grasp the capability of video advertising.

Ad tech is a developing industry with monstrous potential and a ton of competition – you have to be creative and consider new ideas in the event to stand out. With changes happening thick and quick, organizations would be insightful to hope to extend their contributions to new and rising channels and to coordinate their spend to areas that will drive growth and deliver results.

Our industry has a significant role to play, both in social and economical terms. Our work won’t just help people in these uncertain times; however, it will also keep businesses going during these unprecedented times. Also, we have a significant role to play in assisting to stop the spread of misinformation. By reducing the compass of misinformation, our industry can help spare lives.

Note: The views and opinions expressed are solely those of the author and does not necessarily reflect the views held by Inc42, its creators or employees. Inc42 is not responsible for the accuracy of any of the information supplied by guest bloggers.