These days, search advertising commands the entire online ad spending and its leadership position is expected to remain unchallenged in the coming years. Advertisers usually were incapable of precisely targeting and identifying potential customer segments for their promotions due to the broadcasting nature of channels such as newspapers, television, and radio, resulting in lower return on investments. The rising popularity of digital channels such as mobile and online for media and entertainment, and communications, coupled with their capability to identify and benefit from tracking customer behavior accurately, have created major interest and increasing investments by advertisers on targeted advertising.
To harness this developing opportunity of targeted advertising solutions as a new revenue stream, companies have identified that service providers require to have abilities in four key advertising enabler roles such as content publisher, media channel, delivery channel, and market planner. Such roles deliver in depth understanding of customer behavior, which is essential for the successful offering of targeted advertising solutions.
Targeted advertising needs service providers to have advanced customer intelligence management systems capable of analyzing, capturing, and developing multi-dimensional customer behavior profiles in real-time. Further, targeted advertising solutions plays a critical role in the world of internet, as advertising is the main way of profiting from the internet. Companies globally have started deploying targeted advertising solutions through acquisitions or partnerships of vendors.
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Targeted Advertising Solutions Market – Drivers & Restraints
Organizations making an entry into the advertising value network need to effectively educate, engage, and create alertness to the advantages of targeted advertising solutions among clients through advanced systems, and mutually beneficial revenue models and partnerships. Organizations must adopt a learn-and-adapt way to handle constantly changing business models and customer behavior. Distinct from billboards, television, display banner, and radio, targeted advertising solution is an inexpensive solution for local, smaller businesses that may not have the heavy budgets for marketing. In addition, rising demand from the providers of targeted advertising solution for targeted ad campaigns is driving the development of targeted advertising solutions. Advertisers see it as an opportunity to receive greater ROI and higher response rates than those offered by ads traditional channels.
However, business challenges such as declining revenue from traditional voice business and a growing threat to their existing strength in customer knowledge and ownership may hinder the growth of the targeted advertising solutions market during the forecast period. Furthermore, in recent years, with a growing customer preference for non-traditional channels such as IPTV, online2, and mobile, advertisers finally seem to have found a solution to maximizing ROI on their campaigns. The benefit of these channels in identifying the detailed behavior of customers is reflected by the fact that targeted advertising solutions is already a major business opportunity.
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Targeted Advertising Solutions Market – Segmentation
The global targeted advertising solutions market can be segmented based on type and region. In terms of type, the targeted advertising solutions market is classified into search engine marketing, social media targeting, TV and mobile targeting, and content and contextual targeting. Search engine marketing type uses search engines to reach the target audience.
Another type of targeted advertising is social media targeting that uses common targeting characteristics such as behavioral targeting, socio-psychographic targeting, and geo targeting, but collects the data that consumers have provided on each social media platform. In terms of region, the targeted advertising solutions market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is projected to dominate the targeted advertising solutions market as it is an early adopter of targeted advertising solutions.
Targeted Advertising Solutions Market – Key Players
Key players operating in the global targeted advertising solutions market are ARRIS International plc. Capgemini SE, Digital Freak, Demandbase Inc. 3D Digital, AT&T, Inc., and Criteo among others.
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