Particularly in fast-moving fields like advertising and digital marketing, where paradigms shift frequently but not unusually, the term “paradigm shift” is overused.
True paradigm shifts are distinguished from the ebb and flow of ever-evolving strategies, like waves in the ocean, quickly absorbed by the paradigm. In contrast, ever-evolving strategies are like tidal waves, requiring the marketplace to adjust to the new conditions. As opportunists, adaptive marketers seek out shifts in the market because they see them as a source of opportunity.
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This series examines five areas of digital marketing where paradigm shifts are taking place and provides prescriptive advice on how adaptive marketers can take advantage of new opportunities. If you want to learn the Digital Marketing & Analytics course online and make a career out of it, knowledge will be beneficial.
First Part – Advertisers in the First Half of the Story Focus on mobile devices:
In the modern world, we’ve adopted a mobile-first approach. Data shows that mobile phones are now outpacing desktops in terms of web access for the first time. Thus, the Internet Advertising Bureau declared at the end of 2016 that “Mobile ad revenues account for more than half (51 percent) of all digital ad revenues for the first time.” Apps and content designed for mobile devices, such as Instagram, WhatsApp, and Snapchat, allow people to unplug from their computers.
It is not a slow death for desktops, and streaming video and large-scale transactions on the Internet continue to make them relevant. For research-intensive purchases like a new mattress, car, or house, customers find desktops more user-friendly. However, these oversized items can also be researched on mobile before being purchased on the desktop.
“Mobile-first” is becoming the new normal, and it’s mainly due to the maturation of the mobile platform, which is now more than just a phone. Responsive design is rewriting the entire web to fit the mobile device.
Data from users and advertisers shows that desktop computers are no longer the dominant form of computing. In terms of technology, capabilities, and speed, smartphones are no longer an afterthought. Instagram, Snapchat, WhatsApp, and a slew of other apps cater to mobile users’ spontaneity needs.
For large-ticket purchases, advertisers would be wise to focus on mobile-first, technical responsiveness, speed, and the sentiment of point-of-purchase online shoppers seeking competitive prices, even if desktop video consumption and trust have increased.
Second Part – The banner ad’s demise is the subject:
For a long time, ad publishers relied on banner ads, or display ads, as their primary source of revenue. Today, they tend to clog the web as a tool for branding rather than clicks or conversions instead. They’ve dropped in price, making them more accessible, and there’s a lot of inventory as the web keeps finding more ad space for banners to occupy.
Banner ads were an excellent fit for desktop browsers in the past. Advertisers are looking for high visibility, branded design, and, of course, clicks could choose from various shapes and sizes.
Trading desks and programmatic markets have made it easier than ever to buy and sell banner ads, lowering the price but increasing the targeting capabilities. Digital advertising isn’t the only place where viewability is an issue, and Digital and traditional/print, television, and radio media are all affected. Regardless, spending on banner advertising is on the rise.
Customers are becoming so overwhelmed by banner ads that their valuable consumer experience is being negatively impacted. It is a severe threat to the people who see these ads. Mozilla and Google-backed browsers are responding to defend the consumer experience. Customers are looking for high-quality content that isn’t just an ad.
The effectiveness of native advertising, content marketing, and video storytelling in capturing and retaining consumers’ attention has been demonstrated. ‘Advertise to me, but entertain and inform me at the same time is a trade that consumers are willing to make. Rather than relying on traditional advertising and consumer response, premium content is taking over.
Customers prefer quality ads over those that are generic and overly numerous. User experience and consumer trust are damaged by ad lag and intrusive ad behaviors that slow browser performance. To protect consumers, browsers backed by Google and Mozilla respond by blocking ads and rendering 50% of banners unviewable (but paid for).
The third part – The monopoly of Google and Facebook:
Advertising publishers who can target ads at specific customers and earn a measurable result stand out from the crowd, and they can then adjust, retarget, and advertise once more. During the early Millenium, Google’s algorithmic ability to translate customer sentiment, context, and intent into the right ad, right time, and right place propelled the search giant into the advertising space.
Facebook’s ad targeting was a new level of advertising intelligence, based directly on the preferences and dislikes of individual users in their user profiles. As you know, there is now a duopoly in the digital media market, with no single competitor owning more than 5% of the digital ad market. Although there are many benefits and detractors to this duopoly, it can be seen in various ways.
There are always new challenges and opportunities when a paradigm shift occurs, which is no exception. A weakness that Verizon’s Oath sees as an opportunity is Google’s brand safety. A third advertising network may be forming. Google-Facebook still has a lot of advantages in this paradigm shift compared to other paradigm shifts.
They are hugely successful brands that are constantly improving their advertising options for clients. The duopoly is not failing to compete in this instance. Despite their flaws, as demonstrated by the advertiser revolt, they are highly advanced ad networks. In the world of digital marketing, the shift to a Google-Facebook duopoly is nothing new. When Google and Yahoo! were kings in the early days, the stakes were lower. Get to learn such information while doing a Digital Marketing & Analytics course online.
Fourth Part – Technology-enabled media buying:
Programmatic and trading desks and artificial intelligence-based technologies have allowed media strategists to tame the marketplace in a big way. When efficiency and demand grow at the same time, it can be a double-edged sword.
It is also accused of lowering the quality of ads, facilitating fraud, and increasing third-party managers’ profit margins. While banner ad prices continue to fall, the value of this artificial intelligence-driven technology continues to rise.
To address concerns about viewability and fraud in private exchanges, programs like programmatic are rapidly increasing in use. For their part, social media giants such as Google and Facebook are pushing for better quality ads with native storytelling, video, and stickier concepts that keep viewers engaged. “Stories” on Snapchat will soon be available outside of the app, which will undoubtedly lead to more competition.
It’s possible to take advantage of the contributions of artificial intelligence in bulk media buying to make better and more efficient purchases. It’s unfair to link the rise of programmatic advertising with poor ad quality and amplification of clutter. An analogy would be that more powerful engines resulted in a higher number of speeding tickets. Exactly, but that’s not what the technology is all about.
The fifth and final chapter. The quality of the ad is a concern:
Many labels and headlines have been used to describe the various attacks on digital advertising. These include click fraud, pixel stuffing, ad stacking, spoofing, and many others. Human and non-human threats, such as bots searching the web and low-wage workers in poverty-stricken countries clicking on ads, are blamed for this fraud. Horrible. Get to learn such information while doing a Digital Marketing & Analytics course online.
Since the beginning of digital advertising, paradigm shifts have been attempting to outpace fraud. As a result of innovations in native advertising, video, and content marketing, brands can communicate their message more meaningfully.
Ads that enhance the viewing experience, such as video ads, storytelling, content marketing, and native advertising, are becoming more popular. Make sure you are aware of such information while and after taking Digital Marketing & Analytics course online.