Here are some trends that will impact the digital marketing landscape in the present and the future.
The changing environment of digital marketing
The Advertising Standards Council of India, a voluntary self-regulatory organization, monitors the advertising industry in India. ASCI published the “Self-Regulatory Code” in hopes of gaining acceptance for fair advertising methods that benefit the end customer. The ASCI code applies to advertisements distributed and/or published in India, regardless of the medium or place of origin, as long as Indian customers are the intended audience.
Previously, marketers relied heavily on third-party cookies to deliver highly personalized advertisements. They were able to obtain confidential consumer data and retarget advertisements based on very detailed information using numerous web browsers. The use of these tactics has resulted in serious privacy challenges and public distrust.
Nevertheless, the digital marketing landscape is changing course. This new era emphasizes protecting consumer privacy through less intrusive advertising strategies. Although third-party cookies have provided marketers with an easy way to track customer data, the future of digital marketing seems to be much more imaginative. Instead, the e-commerce industry today needs to get to know its customers through relationship building strategies. To make this change, all search engine algorithms are following suit.
When the cookies finally break, digital marketers will have a plethora of new tools and techniques at their disposal. According to Statista, India’s advertising reach in February 2022 was around 467 million.
Consumer data privacy will redefine digital marketing.
The privacy of consumer data is a major concern for authorities and consumers alike, as more and more people depend on internet services and platforms to perform daily tasks. India’s data privacy laws are changing rapidly. There are plans to explore tougher measures for data regulation in 2022 and beyond. These advances in data protection are already driving a significant movement, across all advertising platforms, towards the development of consent-based solutions.
Meanwhile, social platforms will strive to strengthen their position using first-party data, while much of the open web will increasingly rely on contextual targeted solutions.
With the increase
On first-party data, media measurement and enablement teams will need to hire more data compliance specialists and data scientists to ensure data security, quality, and actionability. Data security, renewing measurement and targeting methodologies, and adopting a “watch and innovate” mindset will become increasingly critical after 2022.
E-commerce will change the way brands manage their data
Many digital habits learned in recent months will carry over into 2022 and beyond, including e-commerce – which has seen the most profound change, with more than half of all digital consumers in India now shopping online. The fragmentation of media investments across online platforms and marketplaces has led to an increase in data and organizational silos, posing challenges to effectively monitor and optimize digital marketing spend.
Brands will reorganize to merge digital media and e-commerce teams, as well as rethink their data architecture to adapt to growing investments in new e-commerce platforms.
The future will be defined by a unified customer vision.
As online user behavior and digital commerce in India continue to evolve, marketing efforts have spanned multiple platforms resulting in data silos that prevent digital marketers from getting an overall picture of customers and their buying journeys.
The Customer Data Platform (CDP) offers to reconcile first party data from all channels while respecting privacy. By capturing data from many systems, correlating relevant information for the same consumer, and storing information to track consumer behavior over time, CDP creates a more complete picture of each customer. It includes personal identifiers that are used to personalize marketing communications and track marketing success at an individual level.
Therefore, before deciding to purchase a CDP, marketers should first determine if they have access to large volumes of data at the individual level in order to learn how to achieve a higher level of data granularity. Marketers should also assess whether they have the in-house expertise required to deploy a CDP, such as an IT team or a skilled marketing technologist.
Brand engagement is evolving through digital analytics.
Digital marketing analytics technology has a promising future. New and improved technology will usher in a new era of digital analysis. Deeper marketing analytics and e-commerce data will be welcomed by digital marketers, enabling them to build enriched multi-screen and multi-device consumer journeys. Going further, there are plans to experience cross-platform hardware improvements; it will be more flexible and efficient; it will be more visual; and it will have sophisticated machine learning capabilities that will automatically expose insights, anomalies, and predictions. According to Statista, the average ad spend per capita in India’s digital media advertising market is expected to reach 93.05 by the end of 2022. Additionally, Statista forecasts that smartphones will account for 85% of global ad spend in India. 2026.
A new era of digital marketing is on the horizon, powered by the development of data privacy, emerging consumer habits and technology solutions that will help the modern marketer create enhanced and secure customer experiences, all powered by data. Securing compliant data, developing new media measurement and activation methodologies, and maintaining a “monitor and innovate” approach in the face of changing regulations and platform privacy will be critical to success in 2022 and beyond. The future would involve maximizing the potential of these advanced analytics to provide digital marketers with more user-centric insights and a much deeper understanding of individual consumer experiences.
(The author is the CEO of Big Trunk Communications.)