Media advertising today is radically different from marketing even a decade ago. Driven by media convergence, the expansion of online retail, and the social media penchant for automatic ads, advertising is more cooperative, personal, and diverse. For example, digital ads can now be personalized based on how a user navigates the web (also known as automatic ad buying). Amazon, or any online retailer, can show specific products based on previous views and searches.
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Similarly, venues for seeing ads are changing. No longer do most customers see ads when they watch TV; online streaming sites such as Amazon and Hulu have forever changed how viewers see their favorite programs. Netflix—a site with no commercials—had the number one streaming show in 2016, as well as three out of four most streamed shows of that year. As consumers shift toward paid content sites, fewer viewers see any network or cable commercials.
Moreover, contemporary advertising requires more interaction among peers, advertisers, and potential customers. Customers’ ratings and opinions, as well as influencers’ endorsements, are crucial elements of contemporary advertising. Perhaps most significantly, big data is driving advertisement placements and locations. Indeed, industry experts have theorized that big data is:
the major driver behind the onset of programmatic buying and selling, and it’s removing the need to speculate when making buying and selling decisions.
