A couple of years ago analysts in the world of economics had predicted that by the end of year 2021, close to 90% of all digital display marketing would be achieved through programmatic advertising. The specificity of programmatic advertising which is enhanced by artificial intelligence and machine learning has made it one of the most recommended forms of consumer targeting.
However, like is the norm with a majority of strategies in the world of businesses, it is still under analysis for its effectiveness versus its weaknesses.
This far, programmatic advertising can be termed as highly effective owing to its ability to create traffic to business at an affordable cost. It has also saved a lot of businesses the pain of having to buy advertising spaces directly from publishers. This far, it has reached its key goal which is to enhance efficiency and transparency for the publisher and marketer.
Even when it still retains a status of newness in the world of online marketing, programmatic advertising is picking up new trends to reach consumers. For instance, it is now possible to reach consumers through wearable devices such as smartwatches. Smartwatches have been considered ideal since they can gather real-time data with more accuracy, especially on details such as location and lifestyle. To the consumer, they allow more visibility to notifications making it easier for them to see your advertisement.
The future of programmatic advertising has also been factored into streaming and Over the Top services such as Netflix. Currently, stay-at-home orders have gone up rapidly and steadily, implying that OTT and digital audio advertising will keep soaring. By 2025, revenue generated from this is expected to be at 2.37 billion dollars, which means greater Return on Investment for businesses. If you want to stay ahead of the competition, this is one of the future strategies you could consider for your business.
While it may be overall unfortunate, continents such as Africa may have experienced slower levels of technological advancement due to the third-world status. This may mean missing out on future programmatic advertising strategies such as voice-activated advertising. However, this does not imply that there is an absence of a population that requires up-to-date technologies to gain what they want.
The role of a businessman is to take advantage of any possible market gaps and fill them after careful market research. In this regard, despite being a concept that applies to a smaller population, voice-activated advertising also promises to be an ideal futuristic concept for programmatic advertising. Assistants such as Siri from Apple and Alexa from Amazon are voice-activated assistants that have made it easier to navigate through device usage. If programmatic advertising can be factored into these, it means that marketers will have a more diverse audience to reach. Already, apps such as Spotify have included this feature and there have been promising results on the same.
Despite the promising future of programmatic advertising, there are a number of drawbacks that affect its success. For instance, the phasing out of cookies will mean reduced tracking of consumers. Policies on ID privacy also threaten the future of the same. How concerned should you be about this? Keep reading our issues to find out more!