In the dynamic world of digital marketing, programmatic advertising stands at the forefront of innovation and change. As we enter 2024, this field is witnessing an unprecedented rate of evolution, spurred by the relentless pace of technological advancements and a significant transformation in the way consumers interact with digital content. Not only are the tools and strategies advertisers use being changed, but their very way of connecting with consumers is also being transformed. In a rapidly changing environment, industry experts are looking at and analyzing what trends will soon reign across the programmatic advertising world. Among these experts is Gandharv Sachdeva, Country Head for India at Hybrid. He boasts a wealth of knowledge and experience. Sachdeva explores the key emerging trends that are set to reshape programmatic advertising in 2024, and how they will affect advertisers ‘strategy worldwide.
Advanced integrated AI and Machine Learning support
Advanced artificial intelligence and machine learning are integrating into the fabric of programmatic advertising, forging a new impetus in how ad campaigns get envisioned and implemented. These technologies are so advanced now that they can process massive amounts of data at lightning speed, a development that is changing how advertisers understand and forecast consumer behavior. Under the direction of AI and machine learning, advertisers can now optimize their campaigns on the fly. Therefore, advertisers can offer highly targeted advertising experiences and more personally relevant to each consumer. New-age Ad-Tech companies such as Hybrid are at the forefront of this revolution with their AI and Machine Learning-led advertising solutions. Technologies such as VOX, offer accurate contextual targeting via computer vision and Semantica 360° text recognition is the best-suited alternative to cookie-based advertising.
Focus on Privacy-Centric Advertising
In the era of increased concerns about privacy, 2024 is pushing ahead with a more private form of advertising. In the ever-changing structure, from cookies to first-party data becomes an increasingly important advertising strategy for global advertisers. And beyond that, there is increasing support for contextual targeting. It also represents a departure from the old methods of collecting and applying personal data for ad targeting purposes. It is placing ads based on the content being watched by a user at any given moment. This method ensures the ads are based on viewer interests in content, not taking into account personal data. As privacy compliance becomes increasingly required, contextual targeting techniques enable advertisers to reach their desired audience appropriately.
Driving the growth of connected TV and OTT advertising
The influx of CTV and OTT platforms is about to transform the programmatic advertising landscape. Such platforms are increasingly becoming a central target for advertisers, providing the seamless combination of immersion that traditional television offers with advertising’s precision and agility.
The ability to use detailed viewer data is one of the great benefits offered by advertising on CTV and OTT platforms. Unlike most TV ads, which rely on relatively broad demographic information to select their targets, CTV and OTT allow advertisers access to rich data about individual users. Viewing habits, interests, and purchase history can be used for highly targeted advertising campaigns. Advertisers can target specific audience segments, enabling them to make their ads more relevant and interesting.
Rise of Brand Safety
In 2024, the rise of brand safety in programmatic advertising marks a pivotal trend, reflecting an industry shift towards more ethical and responsible advertising practices. This trend will emphasize the importance of ensuring that advertisements are placed following the brand’s fundamental values and public image. These algorithms and monitoring methods will significantly enhance the safety and appropriate context of displays. The purpose of this strategy is to maintain a positive image of the brand, avoid any negative feedback, and ensure that the targeted audience is exposed to ethical advertising methods. This way, programmatic advertising initiatives will be improved in terms of effectiveness and ethics.
