In the digital age, where competition is just a click away, brands face constant pressure to stay one step ahead of the competition. Advertising technology, first-party data and artificial intelligence (AI) are at the heart of this evolution and play a key role in shaping the future of advertising and media buying. Brands that ignore these technological breakthroughs risk finding themselves in a precarious position, unable to compete in a rapidly evolving digital environment.
Increase advertising effectiveness through targeted and personalised advertising messages
First-party data empowers brands to better understand consumer behaviour and preferences, resulting in more accurate targeting and personalisation of advertising campaigns. This personalised approach leads to greater effectiveness of digital advertising, which, in turn, is key to successful buying of advertising space in digital media.
Brands that lack these valuable insights from first-party data, risk missing opportunities and conceding market share to their competitors.
Using artificial intelligence
Combining artificial intelligence with analytics allows us to accurately predict consumer trends and dynamically adapt advertising strategies in real time. The capability to analyse vast data sets and identify hidden patterns allows brands to respond to market changes faster and more efficiently than ever before.
Brands that have not yet incorporated AI into their strategies may find themselves without key tools to analyse data, build dynamic creative and optimise campaigns in the future. This may result in stagnation of their advertising strategies and diminished return on investment.
Securing and maintaining a competitive advantage
In today’s competitive digital ecosystem, the use of AI and first-party data is not only about gaining an edge, but also about ensuring market survival. Brands that ignore investments in these technologies will inevitably find themselves lagging behind competitors who harness the power of AI and first-party data to deliver superior outcomes for their customers and their business.
Moreover, with the upcoming restrictions on third-party cookies, brands caking a repository of first-party data on their digital audience will find themselves in an extremely difficult position, facing a lack of critical insights and limited opportunities for targeting and personalisation.
Why is it so important to partner with advertising technology solution providers?
Brands are partnering with Ad Tech providers, just as they partnered with media and advertising agencies in the past. These partnerships grant them access to advanced technologies and expertise needed to effectively manage and optimise digital advertising campaigns.
By integrating first-party data collection with artificial intelligence technologies, brands not only improve their advertising effectiveness, but also strengthen their competitive position in the digital realm. Whether brands are ready or not, this is the inevitable future of digital advertising and media buying.
The year 2024 will usher in profound changes in digital advertising and marketing. Tightening economic conditions, third-party cookies being phased out, pressures on privacy and the rise of artificial intelligence are opening the door to a new era of marketing. Agile brands, businesses and marketers see this as a tremendous opportunity. Join their ranks. Integrating first-party data and AI is no longer a choice, it’s a necessity to be more competitive.
If you want to be prepared for these changes and move boldly forward into the age of digital opportunity using AI, and need a trusted advertising technology solutions provider (Ad Tech), contact me at simon.struna@iprom.si.