With global digital advertising spending estimated at 378 billion US dollars in 2020, the number is expected to reach a total of 646 billion U.S. dollars by 2024.¹
Traditionally, advertisers were dependent on the choices made by consumers to develop unique ways to empower brands. The constant need for evolution and staying ahead of the curve has become a crucial component for advertisers, keeping in mind the changing dynamics of advertising as it shifts toward the use of first-party data. Advertisers can efficiently collate information and maximise the effectiveness of their campaigns by consuming first-party data.
Importance of using first-party data:
According to a recent consumer engagement report², 88% of marketers believe that acquiring first-party data is a priority in 2021. To provide customers with an appealing experience through first-party data collections, companies must investigate efficient ways to collect, classify, and activate data through a compelling value proposition.
Digital marketing and its strength:
The ability to reach a specific audience in a cost-effective and measurable manner is a primary advantage of digital advertising. One of the best options for in-app advertising is the ability to provide real-time bidding and instant market analysis. HUAWEI Ads enable developers to integrate high-quality advertisements for a larger audience. Through the self-serve, demand-side platform, partners and agencies can execute marketing campaigns using exclusive innovative tools developed by Huawei. HUAWEI Ads additionally features a key element, which is the Open Advertiser Identifier (OAID). OAID showcases personalised ads to the user while complying with their privacy preferences.
The influence of programmatic advertising:
The most significant advantage of programmatic advertising is the ease with which it simplifies the entire media procurement process. Human negotiations and manual insertion orders are automated eliminating the back and forth which usually is a time consuming process. Programmatic advertising is increasing in popularity because of its capabilities to identify the right space for consumer engagement. Advertisers can successfully reach their target audience while gaining real-time insights into how the audience interacts with the advertisement.
At Huawei, the four core pillars for advertisers are:
- Precision Targeting – assisting advertisers by creating meaningful personas from multiple data sources.
- Lookalike Modeling – using AI and machine learning to target similar audience in real-time in a transparent manner while maintaining quality.
- Private Audience – focusing on advertisers’ first-party data user list; retarget engaging users based on app data and in-app actions for better performance.
- Insight Analysis – providing critical insights on campaign data from multiple touchpoints for better targeting and ROI.
While the large consumer base of over 700 million monthly active users is already a compelling offering from Huawei, it will only grow over time. The HUAWEI Ads offering will be added to Huawei's portfolio of smart TVs, tablets, and IoT devices as part of the company's 1+8+N strategy.
² Merkle’s 2021 Customer Engagement Report