Trends in Digital Advertising for 2024: What DSPs Should Know
By HuntAds
The digital advertising landscape is evolving at a rapid pace, with new technologies, shifting consumer behaviors, and changing regulations reshaping the way advertisers approach their campaigns. For demand-side platforms (DSPs), staying ahead of the curve is crucial to driving success for clients. As we look toward 2024, several key trends are set to dominate the digital advertising space. Let’s explore these trends and what DSPs need to know to stay competitive and deliver results for their advertisers.
In 2024, artificial intelligence (AI) and automation are expected to play an even larger role in digital advertising. DSPs will need to leverage AI-driven tools for more personalized, efficient, and effective campaigns. Machine learning algorithms can optimize ad placements in real-time, predicting the best times, places, and audiences to target. Automation will streamline processes like bidding, ad creation, and audience segmentation, allowing advertisers to save time and resources while maximizing performance.
With increasing privacy concerns and evolving regulations like the GDPR and CCPA, third-party cookies are becoming a thing of the past. In 2024, the focus will shift even more towards first-party data, which is collected directly from users and provides deeper, more accurate insights.DSPs need to build and refine tools that help advertisers collect and leverage first-party data effectively. This could include better integration with customer relationship management (CRM) systems, eCommerce platforms, and other data sources that allow advertisers to create highly targeted and personalized campaigns without relying on third-party data.
Connected TV (CTV) and Over-the-Top (OTT) advertising continue to grow at a rapid pace. As consumers increasingly shift from traditional TV to streaming platforms like Netflix, Hulu, and Amazon Prime, advertisers are following suit. This shift presents new opportunities for DSPs to incorporate CTV and OTT ad placements into their offerings.
To stay competitive, DSPs must integrate more CTV and OTT inventory into their platforms, allowing advertisers to reach audiences across a variety of screens. The ability to target viewers based on their behavior and interests rather than just demographics is also becoming increasingly important in this space.
As privacy laws become stricter and consumers demand more control over their data, 2024 will see a significant push toward privacy-first advertising. This means that DSPs must prioritize transparency, data protection, and consumer consent in all aspects of their operations. In practice, this could mean offering advertisers better tools to manage privacy compliance, providing clear data usage policies, and supporting emerging privacy standards like Google’s Privacy Sandbox.
DSPs that can navigate these regulations and provide privacy-conscious solutions will be well-positioned in a future where consumers are more concerned about how their data is used.
Video content continues to be one of the most effective forms of advertising, with platforms like TikTok, YouTube, and Instagram leading the way in video consumption. In 2024, DSPs should be prepared to deliver more immersive video and interactive ad formats that engage users beyond just passive viewing.
From shoppable video ads to interactive experiences like polls, quizzes, and AR (augmented reality), advertisers will be looking for ways to create memorable and engaging experiences for their audiences. DSPs that offer seamless integration of these interactive formats will be able to capture the attention of today’s more engaged and demanding consumers.
Programmatic advertising is no longer limited to display or video ads. Audio, especially in the form of podcasts and streaming services, is becoming a significant growth area for programmatic buying. DSPs should expect to see an increase in demand for programmatic audio ads in 2024 as advertisers seek to engage listeners on platforms like Spotify, Apple Music, and even smart speakers like Alexa.Incorporating audio inventory into your DSP and offering advanced targeting options for advertisers will help you meet this rising demand. Audio ads provide unique opportunities to target consumers in environments where visual content is not feasible, like when they’re on the go or multitasking.
Sustainability is becoming more than just a buzzword. In 2024, consumers are becoming increasingly concerned about the environmental impact of their purchasing decisions, and brands are responding by incorporating sustainability into their advertising strategies. This trend, often referred to as "green advertising," includes promoting eco-friendly products, brands committing to sustainability, or even reducing carbon footprints in advertising campaigns.
For DSPs, there’s a growing need to support these initiatives by offering more sustainable advertising solutions. This could involve offering tools that track and reduce carbon emissions in ad delivery, working with brands that align with green initiatives, or helping advertisers create campaigns that promote their sustainability efforts.
Influencer marketing continues to evolve, and 2024 will see more DSPs integrating influencer-driven campaigns into their platforms. Brands increasingly recognize the value of collaborating with influencers to reach niche, engaged audiences. DSPs that can incorporate influencer marketing seamlessly into their offerings will be able to provide advertisers with more holistic, multi-channel strategies.By combining data-driven ad targeting with influencer collaborations, DSPs can help advertisers achieve more authentic and powerful connections with consumers.
Embrace Change for Success
As digital advertising trends evolve in 2024, DSPs that embrace new technologies, adapt to consumer privacy preferences, and stay ahead of emerging trends will position themselves for long-term success. The future is about leveraging AI, first-party data, video, and interactive formats, while prioritizing privacy, sustainability, and influencer marketing.
At HuntAds, we understand the importance of staying ahead in the ever-changing digital landscape. By aligning your DSP strategies with these key trends, you’ll be well-equipped to meet the demands of 2024 and beyond.
Ready to future-proof your DSP? Let’s dive into the next era of digital advertising together!
Date: 11 December 2024