Media Inflation: Are Advertising Costs Finally Cooling?
Global media inflation—the rising cost of advertising across the world—is expected to be slightly lower in 2024 compared with 2023, according to recent research.
A few years ago, technologies such as artificial intelligence, automated real-time bidding, and voice search seemed like futuristic concepts. Now, they are widely adopted as a result of the unrestricted growth of social networks, global online services, wearables, and affordable connected devices. New ad tech solutions, such as OTT and CTV ad formats, dynamic ad insertion, programmatic advertising, header bidding, and voice technology are becoming essential for marketers.
OTT stands for over-the-top technology, used to access video content with the help of an Internet connection. Advertisers are using rewarded videos, shoppable ads, and splash ads for better targeting and a seamless viewer experience. Dynamic ad insertion is used to map the customer journey, provide a holistic 360-degree picture, and create an ideal buyer persona. Programmatic advertising uses AI-based technology to purchase ads in real-time, taking thousands of parameters into account.
Header-bidding allows publishers to offer inventory to multiple ad exchanges at the same time before making calls to their ad server. Voice technology is becoming increasingly popular and provides an opportunity to send an ad or message by responding to a user's query, while VSEO helps to optimize the customer experience and rank No. 1 in search results. Adopting the right mix of technology and planning investments in new ad formats will be essential for advertisers in the coming decade.
Top 5 Advertising Trends to Watch Right Now
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Global media inflation—the rising cost of advertising across the world—is expected to be slightly lower in 2024 compared with 2023, according to recent research.
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