In the past number of years, the advertising industry has changed. With the emergence of social media, new techniques of capturing metrics and changing customer values have fundamentally changed marketers’ relationship with their audience members.
According to stats which were published by the Pew Research Center, messaging as well as buying habits of younger consumers — including millennials born between 1981 and 1996 in addition to members belonging to Generation Z who were born between the years of 1997 and 2012 — have also influenced the marketing landscape and the future of advertising.
There’s no question about it that technology is going to continue to shape the future of advertising. We’ve already witnessed dramatic changes in form and factor, powered by technologies such as 3D, artificial intelligence, augmented reality in addition to virtual reality. As the landscape is continuing to evolve, advertisers who don’t follow suit run the risk of getting left behind.
No industry has escaped digital transformation
Every industry has gone through some type of digital transformation however few industries have been as heavily affected as the advertising industry. In 1996, only 24 years ago, the Internet was just beginning to take off. Four years ago, it was estimated that digital advertising spend would formally surpass TV ad spend and very few questioned if that trend has any sign of slowing.
Before the Internet, there really was no reliable way to gauge the effectiveness of advertising. Today, we can plainly track the effectiveness of each advert published across millions of websites. We can not only make the necessary modifications but test changes with specific data.
The rise of programmatic advertising brought a whole new dimension to advertising. Header bidding promised to bring a new surge of revenue to publishers without having to bog users down with more advertising units.