Online Advertising Strategies in Need of Revamp
The Ovum report reviews the state of maturity of the online advertising industry, the early adopter industry sectors and the key vendors.Enterprises, advertising technology vendors and digital marketing services providers need to urgently redefine their online advertising strategies as advertising consumption patterns shift online and toward mobile, according to a report from analyst firm Ovum. The report noted leading enterprise marketing technology providers such as Oracle and IBM have been slow to embrace the online advertising market, allowing vendors such as Rocket Fuel, MediaMath and OpenX to grow extremely quickly from small players into powerful and influential online advertising technology vendors. With these vendors now entering their next growth stage, transitioning from point solutions into enterprise advertising platforms, the wider online advertising industry is in a "2.0" paradigm, with personalized real-time bidding technologies replacing traditional mass-media static "banners” or “skyscrapers." Meanwhile, global management consultancies and systems integrators are looking to exploit the burgeoning services market that surrounds online advertising technologies, in particular the creation and management of the big data that is integral to online advertising processes.
"The online advertising industry is full of supply chain complexities, acronyms and buzzwords that have made it difficult for CMOs and marketing executives to fully comprehend," Gerry Brown, senior analyst in Ovum’s customer engagement team and author of the report, said in a statement. "They need to break down this complex industry into easy-to-consume, bite-sized chunks in order to make informed, educated and strategic decisions about online advertising technology investments and their choice of external services partners."