The rapid technological change in the past two decades has been a catalyst for a significant shift. In the way, we market our companies today and the new players we see in the digital advertising industry.
Although conventional digital advertising platforms such as print media and TV used to lead the way today, figures show that Google and Facebook are now dominant.
The global advertising market reached $550 billion, pushing Google’s value to more than $700 billion and Facebook to more than $500 billion.
Such sites have been able to accomplish such principles because we all have search devices (i.e., smartphones) in our hands to search for a range of items and interests.
Everything we want today is only one search from Google / Facebook. Advertisers use these searches and other practices to show you what you want when you’re likely buying.
Digital Advertising will continue to change, particularly with the rapid pace of change since the Coronavirus pandemic struck.
We’ve learned a lot about targeted ads in the last few years, and this will get more and more precise and intrusive at a quicker pace than previously thought.
Yet, shockingly, the whole field of social media marketing is expected to disappear over the next 10-12 years. Let’s look at the future of ads.
Virtual Reality & Digital Advertising
Advanced technology such as 5G internet, artificial intelligence, and augmented reality when paired with multiple sensor economies, have the potential to move ads out of the computer to physical locations. Consider the examples below:
In the future, you’ll enter an apple store and tell Siri what you’re looking for. Within seconds of saying terms, floating text, pictures, and phone features diagrams appear in front of you. It has already been used in prototype commercials, so we don’t expect it to be too far away.
You visit the place of a friend, and you like the new sofas he/she has. Wearing your AR glasses, you look at the sofas a little longer, maybe look at the fabric. Your expansive view of the object is the details for your glasses. Combined with your recent searches that demonstrate your interest in new furniture, such as “nearest furniture shops,” “vintage sofas,” etc. The smart recommendation feature that you might have forgotten to toggle off adds sofa costs, fabric & colors to your field of vision.
Examples from the Current World of Digital Advertising
We ‘re still in the process of making progress, but the initial stages of this are already here, find “Visual Search” in different applications. Here are the most common ones;
Snapchat & Amazon Partnership-App Camera
IKEA – AR App
Personalized Ads Boosted
Imagine in the future when you pop out for a few items at local shops. The store’s face-recognition program, based on your search history, purchasing habits, and interests, starts showing you stuff you ‘re most likely to buy on your AR glasses that you may have forgotten to “don’t interrupt.”
There is a company that is already prototyping facial recognition applications for busses and coaches so that on-screen ads can be customized to the types of passengers on the bus/coach.
Here comes JARVIS
A lot of marketing and advertisements to date have been focused on buying products because they’re going to make us look or feel better.
Yet what happens if you don’t make your shopping decisions? Yeah, I ‘m thinking about JARVIS or whatever you’re using for your AI.
When you need a new shampoo, you ‘d tell JARVIS to buy you one, and, based on its analysis, JARVIS will buy you the most suitable shampoo.
Let’s take this one step further; you ‘re not going to have to tell JARVIS when you’re going to need to restock because of smart devices to monitor your remaining usage/quantity.
You would think this would work for everyday things, but maybe not for situations where you need to make a personal decision.
Think again, when you go to the designer, you’ll answer some simple questions like ‘what color the dress should be,’ ‘what cut or fabric you want,’ ‘what’s the occasion,’ and then they’ll give you the right choices, such as the perfect dress for your upcoming event.
The AI will already have all that knowledge, and it’s going to make decisions for us, so I don’t think it’s going to take a lot of time until we’re more than happy to trust it.
In the next 10-12 years, ads will become more personalized by using the data that we feed into our digital systems as we walk and speak.
We will no longer be limited to our home screens and personal computers. Digital Advertising would be much more based on our requirements, and the timing of all advertisements will be far more precise based on our immediate needs.