In the world of digital ads, it can be challenging to decide where to invest your advertising budget. It’s essential, however, not to overlook the potential of display advertising.
While we anticipate that some trends from previous years will continue in 2024, the new year will also bring technological advancements, market shifts, and privacy concerns.
Let’s explore the top 6 display advertising trends that are garnering attention and are worth considering incorporating into your marketing strategy.
Here are the trends to watch for this year:
In 2022, spending on display ads reached a whopping 63.5 billion USD. This year, it’s expected that display ad spending will surpass that of search advertising. Therefore, advertisers should prepare to allocate more of their budget to display advertising in 2024.
Several factors are driving this trend, including:
Video advertising remains dominant, though newer formats are gaining popularity.
Social media video advertising, in particular, is crucial, with an expected spending of $79.28 billion in 2024.
Programmatic advertising is available across various display channels, helping brands manage their budgets effectively.
Additionally, other forms of social media, in-app, and influencer advertising constitute a significant portion of display ad spending.
Despite increased investment in display advertising, this ad format has its downsides. Some display ads can disrupt the user experience, leading to “banner blindness.” To counter this, advertisers are embracing dynamic creatives.
With dynamic creatives, advertisers utilize consumer data to create ad elements that resonate better with their audience. These creatives typically incorporate a mix of compelling copy, visuals, and featured products.
Apps have increasingly replaced mobile websites, and this trend is expected to continue. In fact, 21% of Millennials open apps over 50 times a day. Consequently, app advertising spending reached a staggering $336 billion in 2022 and is projected to grow by 14% year over year. Advertisers would be wise to shift their display ad dollars from mobile websites to app advertising campaigns.
But which apps should advertisers focus on? Social media mobile advertising stands out, as 99% of social media users access these apps. Optimizing your display ads for mobile apps will allow you to reach the widest audience.
4.Heightened Emphasis on Privacy
Privacy remains a paramount concern in the advertising industry, with 99% of consumers valuing their online privacy.
How does this impact marketers? Traditional methods of data collection, such as third-party cookies, are no longer viable, resulting in a loss of valuable consumer and audience data.
Advertisers are adapting by allocating more resources to address data privacy changes, particularly in mobile advertising campaigns. Many are now gathering first-party data instead, as we’ll discuss next. Additionally, there’s a growing availability of conversion and attribution tracking tools that comply with privacy laws, enabling advertisers to measure various metrics while respecting user data.
To navigate the challenges posed by data privacy laws, advertisers are increasingly relying on first-party data. This type of data is collected directly from customers through interactions like website visits, purchases, app usage, and other voluntary activities.
Despite this shift, 75% of marketers still depend on third-party cookies. It’s crucial for brands to start accumulating first-party data to support their campaigns.
Methods for collecting first-party data include:
- Customer service interactions
- Online chats
- Reviews and feedback
- Social media
Interactive ads will continue to thrive in 2024, especially interactive display ads. A significant 81% of marketers believe that interactive ads capture users’ attention effectively, combating banner blindness.
When it comes to interactive ads, advertisers have limitless creative possibilities. While polls, quizzes, games, and animations are common interactive ad formats, you can also make an ad interactive by crafting compelling ad copy and visuals.
As we approach 2024, your competitors are already planning their display advertising campaigns for the upcoming year. To ensure your advertising budget is allocated effectively, it’s crucial to stay updated on the latest display advertising trends.
When it comes to enhancing your marketing strategy, Digiboost is your trusted partner. Don’t hesitate to get in touch with us for valuable information and support. Visit our website to explore a wealth of resources and take your marketing efforts to the next level