The 5 most impactful technologies in Digital Advertising
Digital technology has changed the face of business. COVID-19 has changed consumers practices. GDPR is forcing marketers to change targeting tactics. Among all these changes and rapid technological developments that have wide applications also in the digital advertising world, five are the most likely to have the biggest impact in the next two to five years, according to the Global Research and Advisory company Gartner.
We are presenting the most impactful technologies in digital advertising, with a short, clear explanation:
Generative AI
Generative AI, often known as the creative side of AI- refers to artificial intelligence algorithms that enable using existing content like text, audio files, or images to create new plausible content. In other words, it allows computers to abstract the underlying pattern related to the input, and then use that to generate similar content. Industry applications of generative AI are growing.
In advertising it can be used, for example, to generate catalogs or product descriptions, to help customers “try on” various makeups and outfits.
ABM platforms
Account-based Marketing (ABM) is a B2B marketing strategy that uses personalized marketing and sales efforts on a focused set of strategic accounts.
ABM inverts the standard demand generation process. Instead of starting by creating the content and messaging to generate demand, ABM starts with the “who”: Which accounts are most likely to become best-fit customers? Once marketers have identified target accounts, they create highly personalized content relevant to those accounts. They also select the right channels and strategies to reach the right personas within those accounts.
ABM focuses on quality over quantity and depth over breadth.
They automate account selection and prioritization, audience management, activation and orchestration across channels, contact and account-level reporting, sales alerting, and engagement analytics.
IDR for Marketing
Identity Resolution (IDR) is the process of locating and linking records from one or more datasets that refer to the same individual or household. Marketers use IDR to analyze and deduplicate multisource datasets, to target, run and measure advertising and direct marketing campaigns, and to provide consistent communications across organizational functions such as sales and service. There is a high level of interest in IDR, most recently driven by uncertainty related to the deprecation of third-party cookies and mobile ad IDs (MAIDs) by Google and Apple.
Shoppable media
Shoppable media refers to videos, images, and other interactive media formats that trigger a transaction on a commerce site when a user selects an object representing showcased merchandise. Object examples include a button on an image or video of a piece or collection of merchandise. Various digital shoppable media formats are available and viewable via both mobile and desktop — with notable momentum in social media apps.
While the term might bring to mind a native checkout experience like Checkout on Instagram, enabling purchases isn’t what makes media shoppable. It’s “shoppable” because the viewers can compare pricing, stock availability, buying options, and more directly from your media — whatever that media may be.
When brands force consumers into a single distribution channel (such as their own direct-to-consumer store), it skips a crucial stage on the customer journey: comparison. If you don’t give consumers the information they need to shop, they’re going to look elsewhere — where your competitors have a chance to intercept them and their preferences may lead them to a dead end.
Shoppable media helps brands overcome these challenges.
Visual search for marketing
Visual search is the ability to initiate a search using real-world images captured by a mobile device, including smartphones and tablets. It can enhance customer experience across all phases of the buying journey from awareness to post-sale service and support. Beyond reducing friction for the customer or prospect at the top of the funnel, visual searches are a source of contextual information that help customers find what they need faster.
Platforms like Google, Pinterest and Amazon have embraced this new technology, and it’s paying off for them. According to research, it is estimated that the visual recognition market is projected to become a nearly 40 billion dollar industry by 2025.
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