2022 has slipped away into the rearview mirror as another trip around the sun kicks in and we head into the orbit of a New Year.
As part of a special series we asked industry leaders to offer up their take on the year passed, and what they predict might come in the year ahead.
Next up is Troy Yang, Managing Director, North Asia, Hivestack.
Looking Ahead – Three Trends I See in 2023:
1) The AI revolution is coming.
Already this year we’ve seen the potential of AI on the everyday work of marketers. The impressive accuracy of text-based solutions such as ChatGPT has proved that AI is much more than novelty.
This year will be the year that AI will be more widely adopted, with its scope in advertising truly revolutionary. While these programmes won’t replace the creativity and ingenuity that marketers excel in, they can eliminate much of the heavy lifting. Personalisation, for example, is one area that will hugely benefit.
Marketers looking to employ Dynamic Creative Optimisation (DCO) to appeal to specific audience segments or capitalize on the power of contextually relevant placements will be able to use AI to generate hundreds of personalized creatives in seconds.
With the many cultural nuances within the APAC region, I do believe AI technologies will take slightly longer to develop to a point where they can be relied upon day to day. However, as we have already seen, this technology is developing fast. The question is not if AI will become a vital part of our everyday workflow, but when.
2) The Chinese market will offer further opportunities
Over the last year, I have seen an increase in the percentage of ad budgets heading into and coming out of China. As the country looks to open back up to international trade, I expect this to only accelerate. China represents a huge opportunity for any marketer. With growing audience spending, global brands will be looking to invest further, however, this market is still unique.
Though China is data rich, the strict rules and regulations that control this data can cause issues for brands unfamiliar with the market. In order for brands to make smart, data-driven choices to reach their audiences, they will need the assistance of local specialists to guide them through the legislative hoops.
3) Programmatic DOOH will become part of the digital marketer’s toolkit
Previously, I’ve seen the programmatic DOOH budget being drawn from the traditional out of home (OOH) budget. However, with the likes of Google, The Trade Desk and Yahoo becoming true omnichannel platforms by adding programmatic DOOH, I expect to see more marketers diverting funds from their digital budgets into outdoor.
This shows a huge shift in how programmatic DOOH is perceived by marketers. It now speaks the same language as other digital channels, and that language is impressions. While previously purchasing from OOH was focussed on buying specific screens, locations and spots, it is now about buying audiences.
Looking Back on 2022
Your favorite trend(s) of 2022:
As the world started to reset as the pandemic came under control in many regions, I enjoyed watching the travel and hospitality sectors bounce back, triggering growth in campaign transactions globally — especially for cross-market buys. I would love to see this traction continue and for it to accelerate to pre-covid levels, or even higher in 2023.
Your favorite campaign(s) of 2022:
The campaigns that grabbed me most this year have been those that managed to blend the offline and online. My top pick was SHISEIDO’s 150th-anniversary extravaganza, a truly omnichannel campaign celebrating the brand’s anniversary with absorbing storytelling that engaged users in the real world with DOOH, before taking them into the metaverse.
Similarly, I loved Ocean Park’s campaign that leveraged both Facebook and DOOH in order to reach its target audience online and offline — ultimately driving more footfall into its waterparks.
What was your 2022 New Year’s Resolution? Did you keep it?
Like many, I set myself the goal of going to the gym twice a week — so far, so good. Ask me the same question in a year!