The new world of digital, after the pandemic, shaped in front of our eyes from all of us requires the openness of the mind, flexibility and willingness to plunge in it without prejudice
The Digital Day 2022 Conference was held on June 9 under the slogan “The End of the World as We Know It”. We talked about the impressions from the conference and what the future holds for the digital industry with Nenad Milić, Executive Director of IAB Serbia.
The Digital Day conference is behind us, having in mind all the topics that were discussed, can you tell us a bit more about the trends that await us in digital in the coming period?
Well, I think that the conclusions from this year’s conference definitely point into the direction that the digital area has changed wholesomely. User experience on how we will be interacting with web3 internet and through platforms such as Metaverse or Decentraland, replacing our money on blockchain-powered cryptocurrencies and even buying digital art with NFTs while being conscious about who algorithms track you and where you leave your data are some of the key things that were analyzed.
Key parameters of the AdEx report that you would like to comment on.
The digital advertising industry in Serbia grew by 28.8% last year – from 56.222 to 72.394 million euros. The percentage of growth is noticeably higher than in 2020, which amounted to 19.5%. I would say that the main conclusion is that the digital market in Serbia keeps recording a strong double-digit growth but that they are still huge possibilities for further development having in mind that the per capita spent is still very low (10 euros per inhabitant in Serbia, whereas in Europe the average is more than 100 euros).
When will companies be ready to use the potential of everything new available to them in the digital “new age” to promote their brands?
It will be key to understand the process of transformation of advertising amid a digital surge and how instrumental it will be for brands to be able to cope with the digital “new age”. An increase in digital media consumption on distinct platforms has paved new ways of advertising. The number of consumers has grown and will keep on increasing post-pandemic as well. All digital arenas have seen similar characteristics of growth.
„During the last year, the funds set aside in Serbia for digital advertising amounted to about 72 million euros, with a recorded annual growth of 28.8%, which was only below European (30.5%)“
For instance, some platforms have experienced a four times higher rate of engagement among the audience. The level of growth that was expected in the next four to five years has been achieved during the lockdown. This upsurge and the consequently expanding field of opportunities has given birth to a new world for advertisers to find a new audience, create new connections and further expand their brand reach. The marketplace has expanded for advertisers, and brands are going beyond being transactional, as online has become a new medium for hosting their events, concerts and advertisements.
Digital Day 2022: “The End of the World as We Know It”
The first impression that imposes, after the participants had the opportunity to listen to leading experts as lecturers and panellists of the conference is even clearer: business within the “old world” and behavior according to its rules became – unprofitable. The new world of digital, after the pandemic, shaped in front of our eyes from all of us requires the openness of the mind, flexibility and willingness to plunge into it without prejudice.
Digital ad budgets higher by a third in 2021. Djordje Bukinac presented the results of the IAB ADEX report for 2021 as the first participant for the state of digital advertising in Serbia and Europe.
During the last year, the funds set aside in Serbia for digital advertising amounted to about 72 million euros, with a recorded annual growth of 28.8%, which was only below European (30.5%).
Although rates are excellent, it was pointed out that there was a lot to be done for further growth – only 10 euros per capita spent in Serbia (by which Serbia is in third place from the end of the list), while the European average is 115 euros.
Among the key segments, the largest growth recorded is for: search (40%), social media (37%) and video advertising (35.5%).