By Ashish Bhasin
Digital advertising is on the brink of another revolutionary shift that will take its global value to a staggering $1 trillion by 2026-27. Digitization in the world of advertising has enabled seamless integration and over 60% of the advertising pie is already digital. Over the next few years, this is expected to reach 75% globally. Digital is likely to become the biggest medium even in India by 2025.
A cascading challenge facing marketers in the absence of new and improved digitized solutions is gaining a holistic view of the consumer. Digital giants like Facebook, Google and others maintain their own walled gardens of consumer data which can arguably generate an incomplete view of the consumer, who lives, buys and transacts in walled gardens and much more.
Thus, creating a stumbling block for marketers to assess concrete information in real time. To solve these problems, a one-stop unified view that provides a fusion of adtech + martech + deeptech (collectively referred to as madtech), is the need of the hour. What is needed is a platform of platforms,
for lack of a better word, like ReBid. There is an opportunity to create the world’s first unified advertising and marketing platform that is
Led by India, because India has the right talent, the technological capabilities and now increasingly, the scale.
The future of adtech and martech in the media and advertising industry will certainly be platform and technology driven. A platform where the merchant can have a view of the consumer through the walled gardens. The highest level of automation will be required due to the sheer volume of data in transit. What the marketer needs is an end-to-end platform that does not exist today. Although an attempt is underway in a few parts of the world, no one has yet succeeded. Experiments are underway in Italy and Switzerland. This is a golden opportunity for building the first unified global platform outside of India. ReBid from India is the first sign I have seen of a platform that can make such a mark globally.
Platform-based advertising is the way of the future that enables advertising and marketing transformation through a range of tools, software, AI and ML to automate and help marketers and advertisers to get a complete and improved image of their consumers. The future of the media and advertising industry lies in augmenting these tools under a single, integrated and unified platform. But for that to happen, Indian marketers and agencies need a mindset shift. Unfortunately, many of the large legacy agencies have been dinosaur-like in their approach to adtech. These dinosaurs will soon perish, and nimble, nimble, user-friendly platformers will start to become key players. India has a huge opportunity here, and I hope to see the first unified global platform out of India to be built in my working life.
The author is co-founder and president of RD&X Network.
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