The digital advertising industry is constantly evolving. With the advent of new technologies, changes in data privacy norms, and the need to stay ahead of the competition, it can be difficult to stay on top of what’s happening. That is why it was so exciting to attend the Digiday Media Buying Summit that focused on finding efficiency and flexibility for digital advertising budgets in 2023 and navigating evolving technologies and data privacy concerns.
The summit aimed to give attendees a better understanding of how to leverage media buying to drive the biggest impact for their business. Here is a summary of the key takeaways from the event:
First, the speakers discussed the emergence of ChatGPT (General Purpose Technology) and Web3 as potential game-changing technologies for digital advertising. GPT involves the use of artificial intelligence and machine learning algorithms to automate tasks that would otherwise require manual labor. Web3 is a decentralized web protocol that can facilitate secure and transparent interactions between users and websites (think of Web1 and Web2). These technologies have the potential to revolutionize the digital advertising landscape by providing increased efficiency and flexibility for budgeting.
The summit also featured a keynote by Danny Hopwood, managing director of Amplifi US, who discussed how media buyers can capitalize on the new wave of emerging technologies to stay ahead of the competition. He touched on how the industry is changing and how media buyers need to be agile in order to stay ahead. The speakers also touched on retaining talent in the digital advertising industry by seeking talent outside of the industry, and the importance of data privacy and how it can impact digital advertising. With the introduction of data privacy regulations such as GDPR, organizations must be aware of how their data is being used, stored, and shared.
So how was it, you ask? The day was jam-packed with informative sessions, inviting happy hours, and town-halls featuring experts from leading media organizations who discussed a variety of topics, such as the impact of emerging technologies on media buying and the success of programmatic buying. There were also discussions on how to optimize campaigns across different channels, such as linear TV, digital and addressable TV.
Overall, the summit was an amazing experience hosted at the Ritz Carlton in downtown New Orleans. I found myself completely immersed in discussions about programmatic buying trends, brand safety, and issues around transparency—topics that have only grown more important over time. The energy of the gathering was electric; everyone seemed invested in finding new ways to drive success for their team or organization. From executive speeches on branding strategies to roundtable talks on performance-inspired fuel marketing initiatives, there were plenty of insightful takeaways from all those gathered at this inspiring summit! Thank you, Digiday, for curating such an insightful event!
