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Top 5 ad tech trends to watch for in 2023

The changing ad tech landscape comprising of new data privacy norms has made brands rethink their programmatic campaigns and monetisation futures.

Top 5 ad tech trends to watch for in 2023
The advertising industry is gearing up for third-party cookie deprecation in 2024 with new ways of data gathering and targeting. (Image source: Freepik)

By Siddharth Dabhade

Ad tech is an ever-evolving space, it is projected to grow to $30 billion by 2026. India has witnessed growth in programmatic media buying, however, it still had a long way to go when compared to developed markets where a majority of display ads are brought programmatically. The changing ad tech landscape comprising of new data privacy norms has made brands rethink their programmatic campaigns and monetisation futures.

In 2022, we have witnessed the rise of connected television (CTV) advertising, programmatic digital-out-of-home (DOOH), programmatic audio, and the sustained growth of video and gaming are positive signs for the industry. Cross-pollination within the industry will help in changing the present landscape. Marketers, media agencies and brands need to maximise the value of their data through proprietary tools that can plan, run and measure their campaigns better. Currently, the industry is gearing up for third-party cookie deprecation in 2024 with new ways of data gathering and targeting that are privacy-compliant.

Siddharth Dabhade, Managing Director, MiQ India shares the top 5 ad tech trends to stand out in 2022 among brands and marketers.

Data-driven marketing – Data-driven marketing is one such trend that has swept the marketing world. The concept is rapidly gaining traction as more businesses recognise the value of making data-driven decisions. Brands will begin to prioritise acquiring high-quality first-party data and forming strategic partnerships to gain access to secondary data. This data-driven marketing will ensure that every dollar spent on marketing is spent wisely on high-value customers. When you use first-party audience insights to craft an effective strategy, you can get highly targeted ads in front of the audiences who are most likely to become your customers.

Connected TV – As more people prefer streaming channels to traditional television—yet another trend fuelled by the pandemic. Connected TV will grow by leaps and bounds as streaming becomes the default viewing preference for the TV audience, catalysed by an explosion in English, Hindi, and vernacular content and Netflix’s expected market entry in H1 2023. Over-the-top (OTT) streaming also includes internet advertising, video games, e-sports, music, radio, and podcasts, which are all expected to grow in revenue in the coming years. CTV outperforms display ads and online video ads in terms of audience quality, with a 12% and a 10% higher audience quality, respectively.

Programmatic-led performance marketing will grow: In the present time, brands and marketers are under constant pressure, they are facing challenges like budget crunches and competitive environments, and spending every dollar counts. In 2023, the value of brands will be much higher, markers need to spend their money wisely. Post changes in privacy and removing third-party cookies, marketers are looking forward to programmatic marketing to help them navigate this changing digital world. Marketers are required to be cost-efficient and prove ROAS to business leaders

Cookieless – As third-party cookies become obsolete, cookieless inventory presents numerous opportunities for both programmatic advertisers and publishers. Cookieless inventory is expected to boost campaign budgets and provide access to new customers. Marketers who are new to cookieless targeting should consider testing campaigns to reach new audiences at lower CPMs, especially with the introduction of new privacy laws in India.

Omnichannel – Omnichannel has become more important in order to achieve and cater to customers’ super-personalised and real-time interactions and experiences. This strategy enables efficient ad spending across channels and reaches a larger audience by tapping into new markets and demographics that were previously unavailable. Through shared data, this drives operational efficiencies on many fronts, capturing customer information once rather than at each touchpoint.

The author is the managing director of MiQ India

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First published on: 25-12-2022 at 09:30:55 am