I was once told that the only thing that stays constant in our lives is change. In today’s world things are changing at rapid speeds. As we enter a new era of digital advertising, we can see that it is powered by advancements in technology and the consumer’s ever-evolving behaviors. We must anticipate which key trends will help to shape the world of advertising over the next five years. Gaining insights from the resources given in my Digital Advertising class along with the independent research I did myself the following are three predictions that I have made about the future of advertising and what technologies, strategies, or trends will have the most impact on the world of digital advertising.
Technology in Digital Advertising
The world of digital advertising is bound to witness advancements in personalization and targeting capabilities. Artificial Intelligence and machine learning algorithms will aid advertisers in analyzing mass quantities of data and presenting high-quality advertisements that are relevant in today’s world. Future advertisements that are on a more personal level with consumers will result in a more engaging advertising experience for those consumers. These results will bring with them an increase in conversion rates and an enhanced return on investment for advertisers. Utilizing AI algorithms to analyze user data and deliver personalized advertisements based on the viewer’s preferences and behavior. This will allow e-commerce platforms to suggest products based on the consumers’ browsing history, purchases made, and demographics. Advertisers will be able to customize content and ads in real-time based on the user’s information. For instance, a department store website can display different pieces of clothing based on the user’s online shopping history, interest, and budget, this will result in a more personalized and inviting advertising experience for consumers. Creating an interactive experience that immerses the user into the world in which they’re searching gives AR and VR technology the potential to transform digital advertising. Immersing users into a virtual advertising world will allow them to experience products and services in an all-new way thus increasing consumer engagement, boosting brand awareness, also supporting and encouraging more informed purchases. Brands will be able to use AR technology to allow their consumers to try on products by using a webcam or uploading a photo. This will allow the consumer to see how cosmetics or clothing will look on them before they make a purchase. Home furnishing brands may utilize VR to offer virtual tours of their furniture collections. They may also allow users to use their smart cameras to see how furniture will look in their homes. These advancements may lead to a more engaging and realistic shopping experience. Seeing that today’s world is driven by technology measuring and assessing how effective these advancements will be rather difficult. While advancements may be difficult to measure it may not be entirely impossible, today’s advancements in analytics and attribution models can help us to solve any problems we run into. With the help of ever-growing advancements, advertisers will have a clearer understanding of their consumer’s journey and how their advertisements will affect these journeys as multi-touch attribution and cross-device tracking will aid advertisers in doing so. These improvements will further allow advertisers to have more effective campaigns and adjust their budgets accordingly to achieve better results. Bringing on advanced attribution models that use multiple touchpoints throughout the customer’s journey will help advertisers track and analyze various interactions to gain a realistic view of how their marketing efforts impact conversions and optimize their campaigns. Tracking advertisements and user data across different devices will invite advertisers on the journey of the consumer no matter what device they use to travel on. This will give advertisers a more accurate understanding of how different devices contribute to conversions and provide them with insight on how to optimize ad placements along with strategies for targeting their consumers. The world of digital advertising is always evolving allowing for more personalized experiences, using immersive technology, and providing more accurate measurements and attribution capabilities thus enhancing how effective and impactful advertising campaigns can be.
References:
Tika, P.. (Retrieved on February 15th, 2024). Stock image – Hands Using Mobile Payment [Stock image]. Shutterstock. https://www.shutterstock.com/image-photo/hands-using-mobile-payments-digital-marketing-1084540781
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