In the year 2023, Artificial Intelligence (AI) revolutionised mobile advertising by introducing advanced ad designs, optimizing ad placements, and refining targeting techniques. And AI is set to revolutionise mobile advertising in 2024, according to Xtend.
According to industry reports from eMarketer, there was a 27% reduction in customer acquisition costs in 2023 due to the use of AI, while Epsilon emphasized that AI-driven personalized images influenced 80% of consumers to make purchases.
Despite these advancements, digital advertising continues to grapple with challenges such as constrained targeting options, suboptimal ad placements, an absence of personalization, uninspired ad creatives, manual ad optimization processes, and the absence of real-time optimization.
The swift pace of change within digital advertising is remarkably impactful on sectors like e-commerce and travel, prompting them to expand their strategies, cultivate data assets, and concentrate on contexts suggestive of purchasing intent.
Muralidharan, Chief Commercial Officer at Xtend, has been reflecting on this the past year. He believes that mobile trends in 2023 have had a significant impact on consumer behaviour and advertiser strategy. Platforms such as TikTok have led the way in short-form video advertising, while mobile gaming and in-app ads have seen substantial growth. The integration of shopping functionalities within social media apps has been a game-changer.
However, privacy modifications have introduced complexities in measurement and attribution, which means that advertisers need to understand these trends in order to devise customized strategies.
Looking ahead
Looking into the future, Muralidharan envisions a digital advertising landscape deeply intertwined with AI and machine learning, crafting personalized and fluid ads that transcend device boundaries.
“In 2024, we anticipate a shift towards more immersive and cohesive ad formats, incorporating video, influencer and branded content, gaming ads, virtual reality experiences, and shoppable streaming videos. Brands are expected to harness data and identifiers for precise ad targeting, steering towards a more automated, data-centric, and integrated advertising experience throughout the customer journey,” he predicted.
With insights into Android campaign dynamics, he believes Xtend is poised to aid in the crafting of triumphant campaigns and cost-efficient strategies. “We extend our expertise to empower you to construct digital campaigns with assuredness and lucidity,” Muralidharan asserts.
