Published on: May 2022
Impact of COVID-19 on the Cloud Advertising Market
Many businesses have had to adjust their procedures and policies in order to keep their employees safe during COVID-19. The inability to shift the staff and coordinate HR as efficiently as before was the primary cause of the business interruption. Businesses have been compelled to adjust their current ways of operating and reevaluate operational choices due to their incapacity to travel and cross borders, as well as social isolation. To combat the COVID-19 pandemic, governments are collaborating with cloud providers. For example, the White House has announced the launch of the COVID-19 High-Performance Computing Consortium, which will provide worldwide COVID-19 researchers with access to the world's most powerful high-performance computing resources, which will significantly accelerate the pace of scientific discovery to stop the virus.
Market Trends in Cloud Advertising
Demand for customised marketing and consumer analytics is increasing
In the last decade, marketing has changed dramatically; new types of marketing have emerged, along with ever-evolving instruments. From the comfort of their own homes, marketers can target the exact customer they desire. Outdoor marketing is no longer the sole way to reach a certain demographic; nowadays, marketers may promote their products and services to anybody they choose. Different types of marketing can assist end users in attracting the exact type of customer they desire. End users can assess the target audience using various methods of marketing, such as social media marketing, email marketing, and so on. Marketers can use data analytics to gain accurate information about their target audience so that their advertising can be optimised and produce effective outcomes. The expansion of the cloud advertising industry is aided by the growing demand for customised marketing and consumer analytics.
Constraints: Concerns about data security and harsh cloud legislation
Demand for digital advertising is increasing, which will eventually drive demand for cloud advertising. However, as the need for cloud advertising grows, more data from users will be collected from multiple sources. Various regulatory authorities have established standards for cloud advertising to assure the highest level of security. These standards, on the other hand, act as safety nets, and their rigidity has stifled the growth and use of cloud advertising. Regulatory authorities such as NIST, FISMA, FedRAMP, ISO, and HMG establish tight rules and restrictions that cloud advertising solution providers must follow. This would alleviate concerns about adhering to the Payment Card Industry Data Security Standard (PCI DSS) and the Health Insurance Portability and Accountability Act (HIPAA) in terms of data security and encryption.
Data efficiency is a challenge
Consumer analytics data is gathered from various sources and distributed to various departments within a business, including marketing, sales, and R&D. Data is collected through various touchpoints, and organisations must categorise it based on the requirements and expectations of their customers. Data acquired from various touchpoints, such as company websites, the web, mobile devices, social media, and emails, differs from one another, making it difficult for businesses to merge them because they are structured in different ways. When corporate data is not synchronised, customer analytics is useless. For analysis, a vast amount of structured and unstructured data necessitates significant resources, including money, time, and skill. As a result, synchronising consumer data in a general format from each touchpoint is problematic.
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