Adtech Setting a Benchmark for Future GenerationPUBLISH DATE: 19 July 2022
Adtech has become a booming name in the Tech Ecosystem. Through its tremendous transformation, it has created a buzz that is going to last for years to come. For brands too, there has never been a better time to leverage their ads through digital advertising. The golden era of tech space is just around the corner with the 5G spectrum. With the help of contextual targeting tools and enhanced storytelling, the brands are able to reach millions of audiences and introduce their new products or services. For instance, Foodpanda’s ad received more than five million views on OTT platforms, and British Airways’ famous “Fueled by Love” has been viewed more than 10 million times on the most popular video streaming platform – YouTube.
Forecast data recently updated that it is expected that ad spending worldwide is likely to reach $691 billion by the end of 2023. With the advanced technology, it has become easier for brands to optimize the marketing approach to reach relevant audiences and gain insights about changing user behavior to achieve maximum impact.
Most organizations have already switched to digital strategies for effective marketing. In fact, it has been observed that companies who are still following the traditional method of advertising are missing out on several opportunities to grow.
In fact, a year when total ad spends plummeted by 17%, investments in digital ads snowballed by around 15 percent, clearly depicting where the tradition and digital advertising are at.
A recent report by Dentsu revealed that digital ad budgets is most likely to touch the level of TV by the end of 2022, which however could not have happened without pandemic. A moment like could be most likely to happen by 2025 if pandemic was out of the picture. Undoubtedly, adtech has great potential and it has already directly impacted the way the audience is interacting with the sponsored content.
Given the scenario that online user behavior is constantly changing, adtech will continue to dictate how content is marketed online.