5 Must-Know Now Ad Tech Trends for Marketers
August 23, 2024
As marketers, we are constantly bombarded with new technologies and strategies promising to revolutionize my campaigns. It’s enough to make anyone’s head spin! But amidst the noise, there are trends emerging in should be the focus on the ad tech world. These aren’t just fleeting fads; they’re significant shifts that will reshape how we reach our audiences in the coming months. So, grab your notepad and let’s dive into the top 5 ad tech trends every marketer should have on their radar.
1.Goodbye Cookies? Hail to Alternative IDs and Contextual Targeting Makes a Comeback
The writing’s been on the wall for a while now. We have more time, but it has a deadline of 2025. The deprecation of third-party cookies in the advertising industry presents challenges in navigating this change. The industry is reliant on these cookies to target ads and losing them will require finding new solutions.
Testing is a crucial first step. Advertisers can partner with companies that offer solutions and conduct tests to measure reach and performance. While alternative IDs hold a promise for better targeting, they still lack scale. Marketers should explore ways to enhance reach with contextual targeting solutions and adjust media mix into other channels that are not cookie dependent.
2.Data Privacy: Not Just a Trend, It’s the Law (and Good Business)
Speaking of privacy, it’s no longer a “nice-to-have” but a non-negotiable aspect of every marketing strategy. With regulations like GDPR, CCPA and all new State Privacy laws setting the stage, consumers are more aware than ever of their data rights and are demanding transparency.
Data privacy is a critical issue for the marketing and advertising industries because it directly affects how they collect, use, and share customer data. With stricter regulations and growing consumer concern, businesses must prioritize compliance to avoid hefty fines and reputational damage. The key is understanding how privacy requirements intersect with marketing strategies. This can be complex, but by building a cross-functional team with representatives from product development, marketing, legal, and privacy, companies can ensure they leverage data responsibly while still achieving their advertising goals.
3.Generative AI: Hype or Holy Grail of Marketing?
Generative AI is undoubtedly the buzzword of the moment. It’s revolutionizing advertising by crafting super-personalized ads in real-time, predicting customer needs before they arise, automatically optimizing the ad for maximum impact, and even creating interactive experiences in virtual worlds.
Marketing predictions suggest that the eventual winner among major LLM (Language Model Licensing) operators (such as Microsoft/OpenAI, Google, and Amazon) will be twice as big as Apple.
Some tips: define which use cases that will generate the highest business impact and design your implementation plan. High-quality data is essential, organize it before using the AI. Test and learn. Creating your own algorithms will represent a paradigm shift.
4.Scaling the first party data with Walled Gardens: Finding Opportunity Within Restrictions
As third-party cookies fade, first-party data is becoming the crown jewel of the marketing world. And where is this valuable data often housed? You guessed it: within the walled gardens of tech giants like Google, Facebook, and Amazon.
At the same time, first-party data is currently in a “trough of disillusionment,” but walled gardens may offer solutions. These gardens have strong purchase data and can potentially help marketers overcome data challenges.
The key is to strike a balance. We need to leverage the unique strengths of each platform while diversifying ad spend and exploring opportunities outside these walled gardens. This might involve experimenting with emerging channels, partnering with niche publishers, or investing in building your own owned media channels.
5.Cutting the Cord, Not the Connection: The Meteoric Rise of Connected TV (CTV)
Remember those days when television advertising meant clunky commercials and broad demographics? Those days are long gone. Connected TV (CTV), encompassing smart TVs and streaming devices, has revolutionized how we consume content and how marketers reach their audiences.
CTV offers the best of both worlds: the immersive experience of television with the targeting capabilities of digital advertising. With granular audience segmentation, trackable performance metrics, and interactive ad formats, CTV is a game-changer.
Ask yourself: Have you incorporated CTV into your marketing mix? Are you exploring the unique targeting and engagement opportunities it offers?
If there’s one constant in the ever-evolving world of ad tech, it’s change. The trends I’ve outlined are just a glimpse into the future, and new challenges and opportunities are bound to emerge. The advertising industry is undergoing a period of significant transformation. To thrive in this new landscape, collaboration is paramount. Advertisers must work closely with their suppliers to navigate the cookieless future, explore alternative targeting solutions, and leverage first-party data effectively. By fostering strong partnerships and staying informed about the latest trends, the industry can ensure a future that is both effective and respectful of consumer privacy.
That’s why I believe the most crucial skill for marketers in the coming months will be agility. We need to be willing to adapt our strategies, embrace new technologies, and constantly experiment to stay ahead of the curve. This means staying informed about industry developments, testing new platforms and tools, and, most importantly, being open to learning and iterating along the way.