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Most of 2023 was characterized by difficult global economic conditions that were felt in Europe throughout the year. Despite this, global advertising spending is growing.
In 2024, global ad spending is projected to grow by 8,2 percent and reach one billion dollars.
Despite spending little on travel advertising compared to other sectors, UK travel digital ad spend is expected to grow by 20,9 per cent by the end of the year.
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Program channels such as digital advertising outside the home (DOOH - digital out of home i.e. public places), cable i.e. terrestrial TV (CTV) and advertising in games, recorded a significant growth in adoption and investment last year.
One of the biggest trends has been the increasing shift towards integrating newer channels with traditional media to drive effective marketing strategies.
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Spending in the United Kingdom on CTV, for example, is up 9,5 percent, and investment in the channel, which can be launched alongside linear TV efforts, is expected to grow by 16,7 percent this year.
Marketers for this year should take into account all the mentioned trends. Along with these, there are broader trends in the digital landscape that also need to be kept in mind.
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Retention and reactivation of consumers
It is expected that Europe will gradually recover economically this year. In the face of uncertainty, brands should focus on maintaining existing relationships and renewing them mobilizing customers who moved away.
To make sure customers keep coming back, retailers and brands across all sectors should invest in loyalty programs and understand what customers want from them.
Effective loyalty programs can help consumers save while increasing business retention rates and revenue.
Loyalty programs also generate value first-hand information which brands can use to empower personalization and retail media capabilities.
Activation of first-hand data
Data obtained directly from users is becoming increasingly important as stricter standards are developed privacy regulations. While this information provides an alternative to cookies, the enablement that marketers should take advantage of is their personalization capabilities.
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By collecting reliable and accurate data directly from consumers, marketers can have confidence that the data up to date and to reflect actual user behavior. This enables better user experiences while complying with privacy regulations.
The growing role of artificial intelligence
The relevance of artificial intelligence (AI) in digital marketing is growing. According to McKinsey, the impact of generative artificial intelligence on productivity could add to the global economy billions of dollars values.
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Marketers should use AI-powered technologies to optimize performance this year.
AI can help analyze vast amounts of data, uncover useful insights and to automate repetitive tasks. This enables digital marketers to perform and manage their campaign more effectively.
The Potential of Programmatic Advertising in Maximizing AI
Choosing a programmatic platform that leverages artificial intelligence can prove crucial in improving the precision of reaching your target audience.
According to Statista, the value of the European programmatic ad market has more than doubled since 2017.
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Harnessing the power of artificial intelligence with programmatic advertising can offer a transformative advantage, with machine learning taking over to simplify complex processes.
The potential of programmatic platforms in maximizing AI-powered advertising lies in their ability to seamlessly integrate advanced technologies, automate processes and extract actionable insights from vast data sets.
This synergy not only empowers advertisers to increase campaign effectiveness, but also has the power to deliver the best results for his investment, he writes MarketingWeek.
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Photo: Pixabay
