Experts had long predicted the death of traditional advertising. However, it saw growth after almost a decade, with advertising revenue growing by +2.5% in 2022. One of the factors that has propelled its growth is the entry of ‘digital’ into all forms of advertising. Be it print, television, voice or OOH (out of home), digital is emerging as a major trend in advertising in 2023, allowing businesses to anlayse consumer behaviour and alter campaigns accordingly. It has evolved to become more targeted and personalised, leveraging technologies such as AI and ML.
This year, the advertising industry is expected to see significant advancements across various forms of advertising. Businesses will have access to a wide range of tools and tactics to reach their target audiences and drive results, including traditional media such as television, print and outdoor. Similarly, expansion of connected devices and IoT will bring new advertising opportunities such as voice activated and in-app advertising. And programmatic will be in the thick of it all, driving the change.
Here are some key trends in advertising to watch out in 2023:
Digital outdoor advertising is here to stay
The rise of digital out-of-home (DOOH) advertising is one trend that is likely to continue in 2023 Digital and interactive billboards will dominate the outdoor advertising market. Since it allows for greater flexibility and targeting capabilities, as well as the ability to update ads in real-time, it is expected to be revolutionary in ways we can’t imagine.
A major factor that is leading the continued growth of DOOH is the increased use of programmatic. It allows advertisers to buy OOH inventory through real-time auctions, which facilitates efficient purchasing and improved targeting for specific audiences. Advertisers will be able to use real-time data and analytics to deliver targeted and relevant advertisements to specific audience based on location, time of the day and other factors.
Digital crawls into print
The integration of digital into print is likely to continue tin 2023 as well. Digital platforms, such as online newspapers and magazines as well as e-books are expected to attract more readers
Additionally, the use of augmented reality (AR) in print advertising is expected to grow. This technology allows customers to interact with an ad by scanning a QR code, or a similar mechanism, with their smartphones or tablets, bringing more engagement and interactivity for the audience. Moreover, this will help advertisers in leading the readers from print to their websites. For e.g., a link to company’s website or social media pages can be linked to a QR code on print advertisement. It can also be a great way to seamlessly transition from print to digital.
CTV programmatic will see increased adoption
As the popularity of Connected TV (CTV) platforms such as Amazon Prime Video and Netflix grows, brands will increasingly use programmatic to target their audiences effectively. CTV programmatic enables brands to reach their audience on a one-on-one basis.
Advertisers will be able to buy TV advertising inventory through real-time auctions, leading to streamlined purchasing processes and enhanced targeting capabilities. It will facilitate efficiency in buying and selling of TV advertising.
Voice will see increased investment
The use of voice-activated devices such as Amazon Alexa and Google Home is expected to increase, enabling advertisers to reach customers in new ways through voice-activated ads and commands. Offering a new way for brands to reach their audience, this can evolve itself into a more personalised and engaging form of advertising.
And of course, radio – the traditional home for voice – is also evolving, with digital making its way into radio advertising. The usage of interactive features such as text-to-win promotions and click-to-call options are likely to grow.
The increasing demand for podcasts and audio streaming services such as Spotify will fuel the demand for audio programmatic, allowing advertisers to deliver ads to the right people at the right time.
Travel opens up unique opportunities for advertisers
Integration of augmented reality (AR) in airport advertising is a major trend that is expected to gain momentum in 2023. AR can be used to create virtual product demonstrations, allowing customers to interact with a product before making a purchase. It can also be used to create interactive games or quizzes that entertain customers while they wait for their flight. Moreover,
it can be used to provide detailed information about the airport, such as gate numbers and departure times, making it easier for customers to navigate. We will see increasing use of AR to personalise the traveller experience in 2023.
Similarly, advertising on e-flight tickets will provide another unique opportunity for advertisers to reach consumers when they are looking for information about their upcoming flight.
Advertisers can deliver advertisements based on consumer travel patterns, geography and preferences.
Overall, 2023 is shaping up to be an exciting year for the advertising industry, with a wide range of opportunities for businesses to reach and engage with their audiences.