By: Trent Lloyd, Head of APAC
In 2024, advertising personalization is poised to undergo transformative changes as the industry adapts to evolving consumer expectations and privacy considerations. One significant shift will be the accelerated adoption of privacy-centric personalization methods. With the phasing out of third-party cookies and heightened data protection regulations, advertisers will increasingly turn to high-quality, privacy-compliant data sources that help them maintain individual relevance with their audiences while simultaneously respecting their privacy and all applicable regulations.
Another key trend in advertising personalization for 2024 will be the rise of contextual targeting. As privacy concerns grow and regulatory environments become more stringent, advertisers will explore alternative methods for reaching their target audiences. Contextual targeting, which focuses on delivering ads based on the content and context of a web page rather than individual user behavior, will gain prominence. This approach allows advertisers to tailor messages to the immediate context of the user, providing relevance without compromising individual privacy. Brands will need to invest in understanding the nuances of contextual relevance to deliver personalized experiences effectively in this shifting landscape.
Additionally, 2024 will witness an increased emphasis on first-party data strategies for personalization. Brands will strive to build and leverage direct relationships with consumers to gather consented first-party data. This data, obtained through transparent and value-driven interactions, will serve as the foundation for personalized advertising efforts. Advertisers will invest in refining customer relationship management systems, loyalty programs, and engaging content to encourage users to share their preferences willingly. By prioritizing the ethical and transparent use of first-party data, advertisers can strike a balance between delivering personalized experiences and respecting user privacy, fostering a more sustainable and trust-driven approach to advertising personalization in 2024.
At the same time, emerging channels such as CTV, DOOH, in-game ads, audio, the metaverse, and others will continue to advance in their capabilities to get to one-to-one targeting and bridge data gaps. With the demise of third-party cookies, these channels will continue to evolve their measurement and personalized targeting opportunities based on enhanced data capabilities. Overall, video will continue to boom, even as these new mechanisms take time to develop and implement.
As a part of the shift to a privacy-first advertising landscape, we’re likely to see a shift toward greater reliance on geo- and household-level IDs and targeting, which by nature are less individual but can be leveraged quite effectively in personalized targeting. With AI becoming more prevalent across the marketing landscape, the accuracy of data modelling used to build out segments will improve.
In 2024, the journey toward personalized advertising continues, propelled by a commitment to consumer trust and the evolving demands of a privacy-conscious digital era. Fueled by technological innovations and a heightened awareness of user privacy, the industry is set to embrace alternative methods that prioritize transparency, consent, and ethical data use.
If you want to ensure your data-driven marketing strategy is ready to greet the challenges and opportunities of 2024, Eyeota is here to help. Connect with Eyeota’s Data Desk team today!
