Despite uncertain economic conditions, digital advertising continues to grow, much like last year. Investments in digital advertising are firmly rooted in advertising budgets, driven by efficiency, measurability, real-time adaptability, and, most importantly, the ability to effectively reach today's digitally empowered modern consumers. Therefore, it is imperative for brands to keep track of trends in media consumption, reach customers in a targeted manner and prioritise brand recall and reputation protection.
Display advertising is among the most effective forms of digital advertising for creating brand awareness
Investment in digital advertising continues to grow despite belt-tightening measures. The AdEx 2022 survey conducted by IAB Europe has revealed that digital advertising investments in Slovenia grew by 8 percent last year, while in Europe, the growth stood at 10 percent. In Slovenia, over the past year, display advertising, with its advanced formats and technology that enables effective online consumer reach, constituted over 60 percent of all investments in digital advertising (source: IAB Slovenia, AdEx 2022).
Display advertising enables visually attractive and creative brand expression, helping brands stand out in a saturated competitive landscape. The right display advertising strategy can help us build robust bonds between brands and consumers, resulting in enhanced loyalty, increased demand and improved business performance.
Accurately reaching your target audience and personalized messaging impact branding
Display advertising plays a key role in cultivating a strong brand and consolidating brand awareness. By leveraging data-driven approaches, it allows brands to reach their target consumers with relevant personalized advertising messages delivered at the right time and place, igniting interest and improving brand reputation.
In today’s digital era, where we spend a significant amount of time online, consumers are exposed to a plethora of advertising messages that often fail to align with their purchasing preferences and individual intentions. This results in “banner blindness” when ads no longer capture our attention. The solution lies in precise targeting of the audience and leveraging data, including the utilization of first-party data management platforms like iPROM Private DMP. This approach delivers advertising that is more targeted, relevant and tailored to our buying habits and interests to ensure greater advertising effectiveness. Brands can harness data-driven advertising approaches and effective data management to be more successful in building and nurturing customer loyalty.
Leveraging first-party data to personalize advertising messages based on purchase intent
The use of first-party data is a key factor in targeted advertising that is tailored to the needs of consumers. Today, when advertisers are particularly careful when it comes to their advertising budgets and strive to spend them efficiently, this data has become even more valuable.
By leveraging first-party data, advertisers can create campaigns in real time that are precisely tailored to match the interests and needs of their target audience, leading to improved conversion rates.
We recommend that anyone looking to better understand their customers and reach them with relevant and targeted messages leverages first-party data that helps companies better understand customers’ purchasing intentions and respond to them more effectively. This approach enhances the effectiveness of advertising campaigns, yielding superior outcomes in terms of customer satisfaction and return on advertising spend.
Strong brands protect their reputations by respecting privacy
Advertisers are increasingly deciding to stop their relationships or discontinue their use of platforms that export data outside the European Union. This trend is a result of growing focus on protecting the privacy of EU users and responses to stricter regulations as brands want to collaborate with independent platforms that prioritize privacy as a fundamental and very important value. Given this perspective, it is worth contemplating whether we as consumers would tolerate unwarranted invasions of our privacy, similar to uninvited entry into our homes when we shut the door and draw the curtains.
Consumers have the right to privacy and control over their data, so respecting consumer privacy and compliance with EU legislation is key to any brand’s success. Choosing platforms with robust security mechanisms and privacy policies integrated guarantees control over the collected data.
Together we can shape a digital environment that respects consumer privacy. You should make privacy protection your priority, as it has important implications for both your consumer’s individual freedom and overall trust in digital services and the future of the digital economy.
If you have questions about how to design an effective media strategy, write me at email@example.com. 😊