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How 2024 is a Revolutionary Year for Digital Marketing

How 2024 is a Revolutionary Year for Digital Marketing

This year of 2024 will be regarded as one of the most significant years in the history of digital marketing, with seismic developments to come in terms of open web reach, measurement, targeting, and supply chain partnership optimisation.

The discontinuation of third-party cookies in Google’s Chrome browser will account for a significant portion of this change. However, the industry should not wait for that; instead, it should begin investigating and implementing cookieless techniques.

Whether Google chooses to move the discontinued date again is irrelevant. Even with cookies currently active, only 30% of the open web can be reached by these identifiers, with the other 70% preferring to have more control over their data through current cookieless browsing settings or opting out of cookies in browser.

Brands that do not use cookie-free infrastructures and technologies will struggle by 2024, well before third-party cookies are eliminated. The reach of their advertising will be further hampered, with brand equity, market share, and sales all likely to suffer as a result.

Attention concentrated

One of the issues that cookieless solutions have yet to address is measurement. While cookie-based measurement is deeply wrong, measurement in cookie-free situations remains a contentious issue in 2024.

Over the last few years, attention has emerged as the champion of the measurement discourse, and more brands will apply it. However, measuring attention presents a huge stumbling problem.

There is still no uniform definition for how to quantify it, and it seems unlikely that this will be resolved within the next year.

As a result, the most effective way for brands to assess the worth of their marketing campaigns will be to employ a combination of techniques. Running media quality measurements, such as attention metrics, in conjunction with Marketing/Media Mix Modelling (MMM) or econometric studies will provide the most comprehensive picture of campaign influence on business outcomes.

Spending in the appropriate places

The growing scrutiny of measurement and targeting coincides with more brands asking how their reach affects the quality of the inventory on which their ads appear.

Many firms have realised that cost-effective reach isn’t working for them and have discovered ads that are either low-quality or created specifically for advertising sites, or both.

Value for money is crucial, and it can only be obtained by spending intelligently rather than cheaply. Advertisers understand that targeting the appropriate client is preferable to reaching any customer. However, this can only be accomplished if the business focuses on quality placements rather than amount of impressions bought.

Instead of focusing on clickthrough rate or cost per acquisition, advertisers should measure the success of their reach using total sales data, brand equity, and market share. Next year, brands will be desperate to offer high-quality advertising to protect their brand identity.

Partnerships that are optimized

Positively, as brands look for the best programmatic setup in the midst of ongoing economic difficulties, this analysis of spending will encompass the whole supply chain.

More brands will realize that they need to work more directly with publishers and media owners in order to avoid having a portion of their budget go toward intermediaries instead of inventory as a result of optimizing their partner and media mixes.

Beyond the financial benefits of direct collaborations, companies will gain from direct access to the inventory and data needed to make sure they stay competitive in the most recent iteration of digital advertising.

A year of progress

The year 2024 is probably going to be the most revolutionary for digital advertising to yet. Nevertheless, it will enable marketers to tidy up their programmatic act and guarantee that both their and the programmatic ecosystem’s futures are bright.

Improved measurement, reduced waste, privacy, and direct collaborations will be the cornerstones for developing the sector and producing much better outcomes for publishers and advertisers alike.

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