Marketers will need to dig out hidden opportunities for applying adtech to provide maximum value to customers in 2020 and beyond.
The adtech market is projected to record exponential growth between 2020 and beyond. There will be changes in the use of first-party data, utilization of more creative content, more AI and ML use cases for influencing customers, and generating an effective central repository of customer data.
First-party data will win owing to improved privacy regulations
Companies struggle with collecting the information they gather from customers–first-party data. Overcoming this challenge can be time-consuming as well as costly and hence many advertisers use third-party data that is collected from online users without their consent.
However, using third-party data has backfired mainly among social media sites, thereby forcing them to re-evaluate and change how user information is collected. Furthermore, privacy regulations like GDPR and the CCPA are making it tougher to use tracking cookies to target and personalize ads.
Companies will need to have confidence that the data they are using for marketing purposes is being used with consent as a result of the rise of privacy regulations. The pressure to rely upon and use more first-party data will come not only from regulators but also from corporate clients and partners.
Technology will connect teams and channels
Omni channel marketing has been popular for the past several years but the trend is likely to change in 2020. Many of the existing adtech solutions lack the basic functionality to enable the much-needed level of interaction.
This scenario could change provided vendors begin embedding features for advertising-centric collaboration within their solutions, instead of forcing marketing or advertising professionals to depend on more generic work environments.
Increase in the usage of automation technologies
Most of the industry talk around AI and ML involves programmatic ad buying or bid optimization. As per experts, the interest in AI and ML is moving to these technologies for more valuable pursuits such as automating their understanding and use of customer data.
AI and ML can help automate that process and provide human beings with snapshots of trends and recommendations they can act on to deliver the right messages to the right customers across the right channels.