Advertising/Media

The evolving advertising landscape What media owners and small- and medium-sized marketers are missing

The evolving advertising landscape What media owners and small- and medium-sized marketers are missing

By Kajal Sharma - 23 Sep 2024 05:43 PM

Today's advertisers have to appeal to at least four distinct generations of customers, so it's critical to strike a balance between the continued importance of traditional media and the emergence of new digital trends.Global advertising is expected to reach $1 trillion for the first time, expanding at a rate of 10.5% annually. According to a recent WARC survey, Amazon, Meta, and Alphabet are holding 70% of the incremental ad spend, underscoring the rapidly changing nature of the advertising industry. So is India's conventional media withering or dead? Not at all.Despite the common misconception, traditional media is still quite important in India and may work well in tandem with digital tactics. Today's advertisers have to appeal to at least four distinct generations of customers, so it's critical to strike a balance between the continued importance of traditional media and the emergence of new digital trends.

While huge advertisers with deep pockets prefer to concentrate only on purchasing premium time and space, let's examine how small and medium advertisers and media owners might approach this landscape differently.initial data With privacy laws becoming more stringent and third-party cookies becoming less common, it is imperative for brand owners to gather first-party data—direct customer relationships. Better customisation made possible by this data increases the effectiveness of your advertising budget. But rather than being viewed as a temporary strategy, this should be viewed as a calculated investment made into the culture of the company. This offers traditional media owners, particularly those in smaller markets, a fantastic chance to create their own little "walled gardens." They may provide advertisers with extremely efficient and privacy-compliant tailored solutions by utilizing their own first-party data. Adopting data-driven tactics can help traditional media owners stay relevant and future-proof their products.Interactive and video materials With platforms like YouTube and connected TV (CTV) making it more accessible to smaller advertisers, video remains one of the most compelling ad types. Engage buttons and shoppable links are examples of interactive ads that increase conversion rates.

 

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