HOW DID THE DIGITAL ECOSYSTEM CHANGE LAST YEAR?
In 2023, we saw significant changes in digital advertising. Retail media networks harnessed first-party data, increasing complexity in audience targeting and measurement. Clean rooms and heterogeneous IDs emerged to manage network connections and unify identities.
Additionally, Gen Zs and Millennials’ engagement evolved, blending TV, gaming, and user-generated content into more immersive experiences. This shift demanded media companies adapt to these diverse formats for effective engagement.
WHAT WORK ARE YOU MOST PROUD OF FROM LAST YEAR?
Ad Scholars’ crowning achievement in 2023 was our Ad Scholars Creative Studio. We won two MMA Smarties Bronze awards for our ‘Jack Ryan’ project, excelling in Gamification and Creative UX designs. Our Citadel Overlay and ‘Die Hart’ gamification projects showcased our ability to merge creativity with technology in digital advertising.
WHAT CAN BRANDS DO DIFFERENTLY TO ACCELERATE THEIR DIGITAL STRATEGY?
To advance their digital strategy, brands need to prepare for the post-third-party cookie era by developing their own data collection methods. They should integrate with major DMPs and CDPs, leverage AI, explore OTT media, Audio Ads, and Gaming Inventory, and create engaging ads using CGI. This diverse approach will foster personalised and impactful consumer connections.
WHAT ARE THE BIGGEST OPPORTUNITIES BRANDS CAN GEAR UP FOR THIS YEAR?
Brands should focus on AI platforms for campaign analysis, covering content creation, audience strategy and budget allocation. Early adoption of AI in digital strategies offers a significant advantage, as AI’s influence in the digital sphere is set to grow.
WHAT DIGITAL NEW YEAR’S RESOLUTION SHOULD PEOPLE MAKE THIS YEAR?
Brands should prioritise sustainability, employing Green CPM and energy-efficient solutions in digital and OOH advertising. Shifting focus from traditional metrics to audience engagement and ad recall value will offer deeper insights. Embracing AI, CGI, and emerging platforms like gaming and the Metaverse is key for innovative and interactive customer experiences.
-By Srikanth Rayaprolu, CEO & Founder of Ad Scholars
