Over the past few years, digital marketing has evolved at an unprecedented pace, so much so that it now permeates every brand's media mix, something that didn't exist a few decades ago.
As a result, the number of digital advertising campaigns conducted almost daily, as well as the number of digital advertising agencies created every day, is growing rapidly.
Either way, advertisers are spoiled for choice as technological advancements, changes in consumer behavior and the rapid expansion of the digital landscape make smart tools available.
Last year, many digital marketing veterans predicted that brands would be banking on artificial intelligence (AI) and machine learning (ML)-powered advertising approaches by 2023, and that proved true.
While Google plans to phase out third-party cookies in the second half of 2024, the focus this year is on personalization and contextual targeting.
Sanjeev Jasani
Speaking to BestMediaInfo.com, Sanjeev Jasani, CEO of Cheil India, which is setting up its non-Samsung subsidiary Cheil X, pointed out that the advertising industry has changed over the past year. . Today, television is not the only weapon in the agencies' arsenal. All other functions such as creative, media, retail, outdoor advertising, brand experience and e-commerce are becoming increasingly important. This shift reflects the modern advertising world's focus on creating a consumer experience across multiple touchpoints.
What could happen in a world without cookies, he believes, is that all of the touchpoints mentioned above will become more proactive, with first-party data collection becoming the only solution for delivering unique experiences on all platforms. point-of-contact.
"Ethically, we're ready for this. Even though it's not first-party data collection on existing CDP technologies and platforms, it's not really about collecting data and creating your own data lake. It’s about understanding consumer behavior and the fundamentals of deciding what to do. “I think it’s a strategy and we’re working on it,” he said .
Amardeep Singh
According to Amardeep Singh, CEO of Interactive Avenues, the year 2024 is full of new promises with artificial intelligence (AI), machine learning and neuromarketing spotlights.
Forecasts for 2024 include personalized ad content, ad placement, and artificial intelligence playing a major role in predicting consumer behavior more accurately. Additionally, he predicts the rise of immersive technologies that will enable consumers to have more immersive and engaging experiences through AR, VR and mixed reality; Growing emphasis on ethical advertising practices and sustainability amid consumer demand for corporate accountability and transparency.
“The introduction of 5G networks will enable faster and more effective advertising, particularly with high-quality videos and interactive content. On the other hand, blockchain technology will help create a decentralized advertising ecosystem, increasing transparency and control for advertisers and consumers. ", the use of neuroscience to understand consumer decision-making processes will be more widespread." He said this will bring more effective advertising strategies.
Rohan Mehta
According to Rohan Mehta, CEO of FCB Kinnet and FCB/SIX India, while digital has a tailwind, the opportunities associated with it are enormous and will continue to grow exponentially.
“There are always times of high hopes and times of disappointment, and it’s a continuous cycle of encouragement. For example, the pandemic was a period of great enthusiasm and hope for digital, then the 4th and 1st quarters of 2024 were periods of depression, but I now believe that the growth trajectory will be more normal and sustainable because many new opportunities are emerging. . " he said.
Additionally, with the advent of artificial intelligence, Google has improved its search generation and believes that artificial intelligence will continue, so it has become a fertile ground for innovation in the marketing industry digital, including various social media and digital platforms. Revolution
Beyond AI, trends expected to stand out in 2024 include omnichannel advertising, as the lines between native and digital advertising blur, requiring cross-platform thinking with the consumer at the center of the universe.
“By 2024, brands will invest heavily in long-term branding, creating brand platforms and even media, ultimately capturing the results and promoting them through performance marketing. The same is used to satisfy a hidden desire for something. “But the tools and technologies are saturated, and so there is no point in investing more in the bottom of the funnel,” he said.
Harshil Kariya
Similarly, Harshil Karia, MD and co-founder of Schwang, highlighted that a major trend he foresees this year will be AI becoming mainstream rather than experimental.
He also highlighted that the level of tools clients use to create CDPs, ways to personalize and make better use of their data will increase, and he believes the digital marketing space in India will soon start taking off. Maturity tray
"In OpenAI, customization is essential in three dimensions. First, use the OpenAI API to develop client tools. Second, introduce 22 internal tools in the form of specialized bots for different creative processes. Third, integrate design and AI in our ecosystem to empower Additionally, our development team is exploring AI applications to improve coding efficiency and optimize code stacks.
Allegorical Vedas
Sharing a similar view, Rupak Ved, COO of LS Digital, suggested that this year there may be a shift in focus or an increase in primary data. As the reliance on third-party cookies declines, companies are focusing on collecting and using first-party customer data from direct interactions for personalized marketing campaigns.
Another trend that is seeing significant growth is privacy-focused marketing. "The focus on user privacy will become clearer. Marketers will need to adapt to new targeting and tracking methods that respect user privacy. Contextual advertising, where ads are targeted based web content rather than users' personal data, could prevail," Ved said.
He also believes alternative tracking technologies could emerge, such as Google's secret sandbox, which will provide privacy-friendly solutions to targeted ads. Furthermore, he highlighted that new labels or technologies could be developed and implemented to enable targeted advertising while respecting privacy regulations.
Shraddha Agarwal
Commenting on the issue, Shraddha Agarwal, Co-Founder and CEO, Wine, also said that increasing efficiency through online media is one of the major challenges in 2024, which requires understanding of data, this which includes data analysis. . It is important. Everyone wakes up eventually because they are processing information.
In 2024, he believes that the next big thing in the advertising world will be innovation, a battle between relevance and campaign creativity. As a result, many companies try to sell new innovations or not.
“Every agency and client today spends 40-45% of their marketing budget on contextual marketing, but they often forget to answer the question of how it affects their brand. That’s why we developed our proprietary model called COT, in which we define content marketing by category and correlation. Here, first “We decide what the brand is trying to do creatively, then we tell them how much they should spend on creative and even "For this, we have to take the overall budget of the client and achieve the objective," he added.
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