In 2024, digital advertisers will be looking to harness Artificial Intelligence (AI) and new metrics to keep budgets low and connect with customers in meaningful ways. Attention metrics, which are tied to engagement time, focus and quality of interaction, will replace or complement traditional clicks and views. To ensure consistency and transparency, the IAB is partnering with the Media Rating Council to roll out standardized attention measurement guidelines. Supply path optimization (SPO) will also become increasingly important in reducing latency, improving efficiency and saving money.
The upcoming year will also bring an election season, driving up costs and adding political toxicity to marketing efforts. Brands must plan accordingly to account for the increased cost of media and potential customer fatigue. The streaming industry is likely to respond with more bundling of services to ease consumer frustration.
AI will continue to be a disruptive force in the world of advertising, with generative AI and machine learning helping to lower costs and time required to create high-quality ads. AI will also help with data analysis, media planning, automated customer service, and audience measurement.
Overall, digital advertisers will need to be prepared for the upcoming year and the new metrics, technologies and challenges it will bring. With careful planning and an understanding of the changing digital landscape, businesses can ensure their campaigns are successful and cost-effective.
Originally reported by Martech: https://martech.org/2024-predictions-advertising-and-digital-media/
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