LOS ANGELES, CA / ACCESSWIRE / May 14, 2020 / As digital keeps growing its share of total advertising spend, it has become critical for marketers not only to master new formats but also to ensure that their creative work reaches its intended audience in the most cost-effective manner. Since the earliest days of the industry, ad space buying has been pivotal to the success of brand campaigns, and placement has become even more crucial in the digital age, which has led to exponential growth in programmatic advertising. "The current global pandemic has undeniably affected all sectors of the global economy, and the advertising industry has been no exception. As companies grapple with eroding revenues, previous growth projections are being downgraded, but a streak of optimism remains," comments Daniel Yomtobian, an entrepreneur and business leader with an impressive track record in the online media space. "The disruption created by the pandemic has only accelerated the digital transformation and the demand for online services, which should play to the advantage of advertisers when the economy rebounds towards the end of 2020, as anticipated."
When it comes to advertising technology, programmatic has emerged as one of the most important developments in this field and a designated key driver of future growth for the industry. As defined by the Digital Marketing Institute, "Programmatic ad buying […] is the use of software to buy digital advertising. Whereas the traditional method includes requests for proposals, tenders, quotes, and human negotiation, programmatic buying uses machines and algorithms to purchase display space." The results of this automation are a hugely expanded reach, far greater transparency, advanced targeting, sharply improved relevance, real-time reporting, and data insights. Given these benefits, it is hardly surprising that programmatic has become one of the fastest-growing ad market segments, and once the global economy returns to normal, spending in this area should quickly recover, according to Daniel Yomtobian. It will probably take slightly longer to reach the levels forecast in the pre-pandemic days, but growth is inevitable, especially with the additional boon provided by the arrival of 5G and the continuous launch of direct-to-consumer streaming services.
In 2019, the market for programmatically sold advertising topped $100 billion in value, according to Zenith. The company forecast an increase to $127 billion in 2020, with another $20 billion added by end-2021. Moreover, it projected that the share of programmatic within total digital media spend would rise from 65% in 2019 to 69% in 2020 and cross 72% in 2021. Commenting on the outlook, Zenith global brand president Matt James said, "The ongoing death of the cookie means that the industry needs to rethink the way we design targeting and personalization while respecting consumers. High-quality, first-party data is more vital to the success of programmatic marketing than ever before." James also highlighted a number of issues, noting, "Although programmatic ad spend continues to grow at double-digit rates, it is being hindered as the industry struggles with privacy and supply-chain challenges. Once these challenges have been addressed, programmatic marketing has the potential to accelerate again during the next decade."
Starting out as a web designer, Daniel Yomtobian quickly realized that his true passion was online advertising. Considered a pioneer and innovator in this space, he has dedicated himself to helping advertisers and publishers maximize their ROI and successfully monetize their solutions. In 2014, C-Suite Quarterly described him as a "…young leader [who] will continue to play an important role in shaping the online world of tomorrow." Daniel Yomtobian holds a business marketing degree from California State University-Northridge.
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SOURCE: Daniel Yomtobian