Many companies, particularly including the globe-trotting ones, are giving immense attention to digital advertising. The world is experiencing seamless integration, and brands are taking advantage of this to market their products and services.
The digital era has come to stay, so you can bet that digital advertising will keep receiving global attention.
According to Semrush, Alphabet, Google’s parent company, spent $774.8 million on paid search ads in 2020. Oberlo reports that the global digital advertising expenditure is projected to surpass $600 billion for the first time in 2023.
Digital advertising enjoys the benefits of technological convergence which allows for print, audio and audio-visual advertising. Therefore, digital advertising enables companies to effectively target advertising messages at relevant audiences.
More recently, short videos have become channels of advertising as (video) reels are fast becoming popular. Instagram, Facebook, TikTok, YouTube and, though just recently, Twitter now contain this feature. Brands, globally, are engaging this development to reach a larger audience especially among younger people.
Forbes reckons that in addition to embracing artificial intelligence, virtual and augmented reality, voice search, etc. companies should tap into various digital marketing trends such as short-form videos, personalization, and influencer marketing.
AI is revolutionizing the digital world
Right now, AI is a major concern in modern technology. According to Marketing Evolution, “AI marketing uses artificial intelligence technologies to make automated decisions based on data collection, data analysis, and additional observations of audience or economic trends that may impact marketing efforts.”
With the user base of AI increasing, one could project that more companies will begin to leverage it in advertising products. Through AI, organisations can tailor ads to the peculiar tastes of consumers by using ad personalization. AI can also communicate with an audience through natural language which enables companies to better interact with customers.