A whole new normal has emerged post-pandemic in marketing, with no clear rules. Marketing in the future will be more inclusive and responsive to real customer requirements, is the safest assumption, if the trends are any indication.
The consumer, as is customary, is the driving factor behind these movements. They get to decide how and when they interact with a brand, and marketers have little choice but to comply. However, there is some good news: consumer-driven trends indicate that individuals are more involved with brands than they have ever been. The “new consumer” is a remarkable opportunity for savvy marketers to develop long-term relationships with prospects and existing clients.
Here are three trends that are shaping digital advertising in the age of the digitally engaged consumer.
Privacy Regulations are changing the Data Rules
There’s no denying that the digital ad-tech sector has collected much too much data. Every website visit by the consumer was being recorded, and the information was utilized to track them around Internet. Consumer trust in the ecosystem has been eroded by the abuse of data, which is an issue for everyone involved. Privacy restrictions are gradually but steadily restoring trust. Consumers in the countries of GDPR, CCPA, and other regulations have certain rights.
When it is simple for consumers to exercise their rights over their personal data, they feel more in control of their data, which builds trust. This trust is a critical component of the Internet’s grand design. Marketers support publisher content in exchange for consumers agreeing to reveal their data to receive more relevant adverts. It’s crucial to note that none of the privacy laws prohibit the usage of customer information. Every marketer is free to use any and all data that the consumer has given their consent.
Consumers are prepared to reveal highly personal information, including social security numbers, to mortgage lenders in exchange for cheaper interest rates. Brands will need to improve their ability to articulate the benefits that customers will receive if they choose to share their data in the future.
CTV is seeing a surge in ad spend
Marketers are given a gift when it comes to CTV. Ad-based streaming services are popular and there are a lot of impressions to be had, which means they’re less expensive. Marketers may test a show or publisher, review outcomes, and increase or decrease spending to drive results, just like they can with any other digital channel. In other words, the costs and risks of TV advertising are reduced, allowing more firms to engage.
Furthermore, commerce is infiltrating CTV. As a result, consumers increasingly consider television a “normal” commerce platform.
Brands can create multi-channel experiences that tie into their own commerce initiatives in a variety of ways. IP addresses, for example, are good proxies for CTV since they are assigned to every device connected to the Internet. Brands may participate in extremely innovative storytelling experiences that combine with commerce when they associate a user’s smartphone, laptop, and CTV IP addresses.
ID Graphs are Trending: Consolidation is to be expected
ID graphs are being tested by a growing number of marketers, who have discovered that they can help drive campaign performance. These graphs aren’t a new idea; firms have been using them to resolve identities across devices for years, and new applications are popping up all the time. To acquire a more sophisticated understanding of their audience segments, several marketers are integrating IP data into their ID graphs.
However, as advertisers begin to test them in earnest, more businesses are striving for a piece of this lucrative new industry. The sheer amount of ID solutions currently available on the market is astounding, and it says loudly about the demand businesses may expect. However, some people have access to a considerably greater pool of IDs than others. Marketers should attempt a variety of approaches to find which works best for their products and industries.
Contextual targeting is reviving, and publishers are introducing first-party data solutions for marketers to implement in their domains. All of these represent new chances for marketers to evaluate and compare techniques for engaging a highly engaged consumer base.
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