Looking past Covid-19, Daniel Knapp, Chief Economist at IAB Europe and Tom Kershew, Chief Technology Officer at Rubicon project presented their hypothesis on how they see the digital advertising marketing evolve over the next 5 years. The discussion revolved around the topics of market consolidation, user habits and questions of openness and interoperability of technologies and business.
Daniel Knapp sees a structural change in the way commerce is being done. In his view, the industry has the power to define how the advertising will look in the next five years. There will be a move toward more automated, accountable and transparent models of doing advertising.
He stressed that “we need to rethink, rewire and re-engage market participants”. What needs to be changed in the world of advertising is the way of seeing technology as delivery mechanisms. Advertising needs customization; creatives and businesses have to adapt to all these different formats and we should utilize the potential of the feedback formats. Also, the rigidity of roles and the lack of speaking the same language is what needs to change. Redefining this role will make the internet and data more democratic.
According to Tom Kershew, we need to rethink the way we do advertising. The key to make this transition is to embrace innovation for a sustainable advertising ecosystem.
Users are moving digital consumption away from traditional devices. Nowadays, with all the smart devices in circulation, the digital experience is much more diverse and advertising will have to adapt to different formats. We need a holistic view of the users’ digital experience.
There is a fine line between optimism and change, we need to talk about the significance of this moment. We are going to continue to get better at what we are doing. The progress is real.