According to a recent Goldman Sachs research report, online advertising represents over 51% of ad spend, up from just 26% in 2013, and this trend isn't reversing. MAGNA GLOBAL, a New York-based digital marketing consultant, estimates the global ad market to grow 15% a year through 2021, led by digital growing 22% a year, and traditional declining 4% per annum. What does this mean, for traditional, non-targeted advertising to effectively become extinct?
I completely understand the value of targeted online advertising. Ads are more relevant to my interests, and to the brands benefit, I am more likely to make purchases, or click a link. I get it. But something about being fed content based solely on my past searches, or my "internet footprint," which allows brands to put my "tastes" or "tendencies" into a box, could limit by ability to discover new things. In reality, if Nike knows I like their new air max's because they sat in my cart for a week, peppering me with ads may force me to transact faster, but there's a high likelihood I would have gotten there on my own. The filter bubble aspect of digital advertising feels very narrow. While I know there's nothing I can do to change this, going forward, I am going to be more aware about how to naturally absorb content and discover new products.
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