When I founded Tru Optik in 2013, I could see what the future of advertising would be well before large players got involved. As most of us have seen, streaming advertising has become a very effective means of getting your message out. The advertising industry is poised to see a number of game-changing trends in 2023 that will have a significant impact on how brands reach and engage with their customers. Here are three trends to watch out for:
#1 TV Commerce: Purchasing from direct response advertisements including commercials.
Gone are the days when advertisers had to rely solely on catchy slogans and eye-catching visuals to drive sales. In the age of streaming and on-demand content, advertisers are finding new ways to make it easier for consumers to purchase products directly from commercials. One such trend is the integration of “buy now” buttons in TV commercials, and QR codes in print allowing viewers to make purchases on the spot.
This trend is made possible by advances in technology, such as the proliferation of smart TVs and the use of personal assistants like Amazon’s Alexa and Google Assistant. By simply speaking to their TV or smart device, consumers can purchase products without ever having to leave the couch. This level of convenience is sure to appeal to many consumers and will revolutionize the way brands reach and sell to their audience. [ fix this The agencies that quickly Close loop attribution …Marketers try to find the efficacy of ad dollars. These systems lead to better tracking of ad dollars. ]
#2 Advertisers focusing more on gaming and streaming
As the world becomes more digitally connected, consumers are spending more and more of their time online, with a significant portion of that time being devoted to gaming and streaming platforms. This shift in consumer behavior has not gone unnoticed by advertisers, who are increasingly turning to these platforms as a way to reach their target audience.
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One example of this trend is the proliferation of in-game advertisements and sponsored content in popular games. Advertisers are also partnering with popular streamers and influencers to promote their products through sponsored streams and videos. These types of ads have the added benefit of being more organic and less intrusive, as they are often integrated into the content itself.
#3 M&A activity will increase on the data side
In the coming years, we can expect to see a significant increase in M&A activity in the data side of the advertising industry as companies look to better understand their customers through data. With the proliferation of smart devices and the increasing amount of data being generated, there is a wealth of information available to advertisers that can be used to better target and personalize their campaigns.
This trend is likely to drive up the value of consumer data, as companies compete to acquire data-driven companies or the data itself. By having access to more data, advertisers will be able to create more personalized and effective campaigns, leading to increased engagement and sales.
For 2023 Businesses and corporations need to be very strategic with their advertising dollars and work directly with the advertising industry in order to prepare for a disruptive year. Consumer expectations will change, forcing businesses to develop more direct ways to convert advertising to sales and demonstrate ROI to clients. I believe these trends will have a significant impact on the success of consumer brands.
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The impact of inflation will force the advertising industry, and the clients they serve, to reach target audiences more effectively or lose market share.
Andre Swanston is the founder of Tru Optik which was bought by TransUnion, where he went on to serve as Senior VP of Media and Entertainment, for $150 million in 2020. Which at the time, became one of the top five reported highest exits by an African American entrepreneur ever. He currently serves on the Board of Connecticut Innovations, invests in several businesses, and regularly provides guidance and counseling to business leaders and entrepreneurs on how to boldly disrupt the norm creating a sustainable and meaningful impact.
By Andre Swanston