#Bookmarks2023: 4 trends impacting the digital media industry
Campbell was speaking at the first ever Bookmarks Finalists’ Showcase that was held on Wednesday, 26 July at The Tryst in Woodlands Office Park, Sandton yesterday.
“We need to examine the efficacy, (and measurement) of our work as that is what underpins everything and is the reason why this work is important,” she says.
Therefore, she points to what the trends are in the global digital industry, quoting, in particular, IAB’s global Brand Disruption Report.
Each year the IAB releases a seminal brand report exploring how brands and retailers are innovating to address the market disruption driven by the rise of digital B2B platforms, changing media consumption habits, omnichannel shopping, and ongoing privacy legislation—disruptions that have been largely and dramatically accelerated by the pandemic.
The 2023 Report identified four key disruptions challenging brands, retailers, and the digital ecosystem.
“Given we are halfway through the year, now is a good time to assess where we are,” she says.
4 trends
- H-commerce
Hybrid-commerce (H-commerce) is not the same as the omnichannel. It is when a consumer researches a product on their mobile and then go to the physical store to see the same product. So brands need to look at how they can leverage this particular shopping path.
- Privacy
The loss of data from privacy regulations and laws has led to brands losing up to 30 to 40% of their efficacy. Brands will need to innovate their technology if they still want to talk to consumers and if they want to pursue personalisation.
- Metaverse
Brands need to look at how they can play in this space.
- Creators
There is a move from big brand productions to creators. Quite simply content by creators is viewed more. Brands need to utilise this to create more intense campaigns.
The Bookmark Awards ceremony takes place tonight at Vodacom Dome, Vodaworld.
About Danette Breitenbach
Danette Breitenbach is a marketing & media editor at Bizcommunity.com. Previously she freelanced in the marketing and media sector, including for Bizcommunity. She was editor and publisher of AdVantage, the publication that served the marketing, media and advertising industry in southern Africa. She has worked extensively in print media, mainly B2B. She has a Masters in Financial Journalism from Wits.
