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Programmatic advertising has been in the forefront over the last couple of years. During the same time, it has expanded its reach across multiple marketing channels including (but not limited to) social media, Digital out-of-home services, audio, and video-based advertisements, and more.
Even with these historically successful rates, would programmatic marketing continue to be profitable in 2024? Are we expecting any major changes to programmatic marketing as we see today?
If you're unfamiliar with programmatic advertising, here's a beginner's guide to programmatic advertising 2024.
Well, for starters, Chrome starts phasing out third-party cookies on 1st January 2024. What this means is that no advertiser can now monitor their target audience across any digital channel.
Now, while this seems to disrupt programmatic advertising at the outset, that is far from the truth. Read on to learn how you can make the most from programmatic advertising amid the changing, fast-paced tech landscape.
Make the Most from Google’s Revised Cookie Policies
The revised policy to phase out website cookies will bring forth new adjustments. So, how should you approach programmatic marketing at this point?
- By removing third-party Cookies, Google will now focus more on their first-party counterparts. Because of this, you might need to tweak tracking strategies and scale the data infrastructure accordingly. One immediate implication is to understand data depth and produce highly customized advertisements for customers.
- Keep yourself updated with the latest marketing trends by using new Gen-AI-based tools like Topics API
- Focus on connecting with existing, anonymous customers with engaging and refined digital experiences
What Programmatic Advertising Trends Will Shape 2024?
Here are a few trends that we think will shape the programmatic advertising in 2024:
1. Voice-Powered Advertisements
You’ve probably come across Smart Speakers. But companies aren’t stopping at that. Several industry bigwigs are now launching voice-powered virtual assistants who will engage and interact with you via SmartPhones.
Developers are designing these solutions in a way that they provide quick and prompt responses to all queries. Most of them can also help with regular errands. Thanks to voice activation, accessing the internet is now a breeze even when you at a task.
This new AI-powered solution will also cause a shift in advertising trends. Search results and volumes are likely to witness a sudden spike which will open room to create personalized experiences for customers. The result? Click and conversion rates will increase thus boosting the overall profitability of the advertisements.
2. Contextual Targeting
This is a unique digital marketing approach that involves creating promotional products/services specific to the website content. For instance, if the customer is on a Cleaning services website, they are likely to find more ads related to cleaning products and cleaning equipment. The same applies to other businesses.
While the method might seem old-school, it is one of the best ways to optimize the lack of third-party cookies. If you cannot follow a cleaning fanatic, just cleverly put your ad on a website they are bound to visit.
You can also leverage new technologies like sentiment analysis for more context into the web page and its potential user and visitor base. The results will be highly targeted and precise. And it’s a win-win for brands too. Thanks to this technology, no brand will be unnecessarily linked to irrelevant content.
3. Video-Advertisements on the Rise
With companies looking to boost network connectivity options through 5G and super-fast advertisements, more customers are now likely to check out video ads. These ads are also technically viable.
According to many digital marketers, video advertisements lead to greater engagement and conversions, unlike conventional, single-page ads. Because of the conversion alone, most marketers are comfortable spending more on video advertisements.
2024 will be no different- where video advertisements will continue to dominate. As part of programmatic marketing, you want to leverage this technology to create relevant advertisements for businesses that audiences can truly connect with.
Do not opt for long adverts because they don’t seem to do the trick. Follow buzzwords and stay updated on trends to deliver personalized advert experiences for all customers.
4. Programmatic CTV in Forefront
Every time you watch your favorite streaming platform that supports advertisements, you are likely to come across some adverts. Interestingly, the majority of these ads follow the programmatic mechanism approach.
For instance, you have probably noticed that some advertisements pop up constantly throughout the streaming experience. And this is what Connective TV or CTV does. It often comes up with the same advertisement between your shows to reinforce a single idea. Over time, you are more likely to buy the advertised product or service.
According to this piece from Insider, CTV is likely to significantly expand by more than 10 percent starting in 2023 and extending to 2028. This makes connected TV advertisements one of the biggest trends for 2024.
Most marketers are already anticipating it, given the massive exodus from conventional TV to streaming options. That is why the businesses integrating CTV-based programmatic marketing into their advertisement strategies stand to make the most of this changing tech landscape.
These businesses will also end up driving greater engagement among their audiences because users will find related ads that they connect with.
However, connected tv also needs to be consolidated across multiple distributor channels. That will make bidding even more cut-throat making way for engaging adverts across all top domains. The technology will undergo further refinements to ensure that no two advertisements are same.
This change is also necessary. You will barely find a customer comfortable with multiple advertisements between shows. Not only will it affect the creative channel; but it might also irk the customer enough to avoid the product. That is all the more reason why ads need to be quantified and highly customized for the user.
In 2024, the CTV segment will transform with a market order you’ve probably not addressed before. This segment has plenty of room to tweak digital advertisements so stay on the lookout for the latest trends.
Most advertisers also think CTV comes with maximum potential. According to this report from Statista, almost all marketing professionals across the globe are looking to boost CTV spending in the coming year.
Bottom Line
Programmatic advertising is here to stay and in the coming year, it will only get bigger and better. Look out for the latest programmatic advertising in 2024 trends to understand how you can make the most from these adverts for your business.
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