As the great Prince once sang, “I have seen the future, and it will be.”
With the New Year just passed, and another trip around the sun completed, it’s that time once again to take a peek into the future and offer up what we think it will be.
As part of an annual series, we asked industry leaders what they see coming in the year ahead while also looking at the year just passed.
Next up is Niall Hogan, Managing Director for APAC at Ogury – gazing ahead, looking back, and revealing the fate of his New Year’s resolution for 2023.
Looking Ahead
What are three trends to look for in the coming year?
1. The industry isn’t ready for the deprecation of third-party cookies
In 2024, Google’s long-awaited third-party cookie deprecation will kick into high gear, meaning advertisers will need to create engaging experiences using alternative cookie-less and ID-less solutions that still enable accurate and scaled ad targeting.
So far, preparation for deprecation has been sidelined by heavy focus on other attention-grabbing trends and innovations, including artificial intelligence (AI). As a result, a survey we conducted mid 2023 shows 45% of APAC agencies and brands are still relatively unfamiliar with targeting solutions that don’t rely on identifiers, while regional use of both identifiers and cookies exceeds that of other markets – 63%, compared to Europe at 57% and the US at 52%.
Although these findings do give cause for concern, there are a host of viable solutions available for brands, publishers, agencies and ad tech companies. One of these being personification – the method by which advertisers can still reach their target audience effectively, without the need for sensitive or personal information.
At this crucial fork in the road, adaptation must be prioritised to drive sustainable success.
2. E-commerce will continue to grow
We all know selling on live commerce is huge in APAC, with the likes of TikTok investing billions of dollars in Southeast Asia to boost e-commerce business. Its recent takeover of Tokopedia will only continue to boost regional e-commerce market growth, with brands that exploit this trend and bolster their direct-to-consumer capabilities coming out on top.
“At this crucial fork in the road, adaptation must be prioritised to drive sustainable success.”
It’s also encouraging to see homegrown Singaporean businesses, like Stickler, making it easier for enterprise organisations and agencies to leverage e-commerce opportunities at scale. As we have previously experienced with display, search and social, the emergence of cohesive technological infrastructure is a major part of what sets the stage for accelerated innovation and growth – allowing all players to operate and interact more efficiently.
3. AI isn’t going away
Unsurprisingly, AI is the last of my trends for 2024. Over the past few years, its digital advertising applications have largely centred on analysing user behaviour, preferences, and demographics, with many of these use cases facing significant challenges amid impending cookie loss.
In the near-term – and especially as Generative AI gains traction – I expect AI to be increasingly used to determine how each creative component of an ad campaign drives engagement. The integration of AI into creative processes should also help marketers adapt in real-time to user preferences.
Looking Back
1. Your favorite trend of 2023?
Cold plunges! Who knew a whole industry would come together around bathtubs, ice and middle-aged men freezing themselves to near-death. Driven by the likes of Joe Rogan and Andrew Huberman, it seemed a cold plunge had become the go-to Instagram post of every health-conscious person on the planet.
Are there benefits to sitting in freezing cold water? Apparently so. According to the experts, cold plunges offer a range of potential benefits, including improved circulation, reduced inflammation, enhanced muscle recovery, calorie-burning and weight management, as well as mood enhancement and stress reduction through the release of endorphins. So, watch out – there may be a cold plunge house hitting your gentrified high street in 2024.
2. Your favorite campaign?
The best ads are simple, yet genius at the same time. I’ve long been a fan of the “You should have gone to Specsavers” ad campaigns that run in the UK, with this 2023 outdoor execution standing out for me. A visual joke and message in one, it’s as simple as it is impactful. Hats off to MG OMD, Talon Outdoor, Grand Visual, Global Street Art and Jack Agency.
3. What was your 2023 New Year’s Resolution and did you keep it?
Like most people, my 2023 resolution was geared around fitness and I’m pleased to say that I kept to it.
I’ve created some wonderful new habits, including 6am swims and early gym sessions, cold plunges (yes, I am part of the trend) and hot saunas – all of which resulted in me shredding 30kg of weight and feeling much healthier than I did in 2022. Now, I’m looking forward to 2024 and doubling down on my fitness efforts!
Check out our Three Trends series here.
