With all of that having been said and now out of the way, it is important to note that social media in general will be facing challenges due to this very reason. 47% of the digital media experts who were surveyed agreed with this sentiment, with 38% saying that digital video is in for a rough time. In spite of the fact that this is the case, it appears that social media is also ripe for innovation with all things having been considered and taken into account. 50% of survey respondents pointed to it as having the most potential for innovation in 2024.
Priorities are beginning to change in this brave new world, with 83% of professionals working in digital advertising saying that their main focus is viewability. However, 80% also indicated that they are placing a lot of stock in risk mitigation because of the fact that this is the sort of thing that could potentially end up reducing the likelihood of the aforementioned issues. Unsurprisingly, attention was selected as a priority by 79% of survey respondents.
There has also been a shift in opinions regarding who should be in charge of risk mitigation. In 2023, 35% said that this should be the purview of brands themselves, but now, 37% feel that brands should start taking matters into their own hands. This may be due to a lack of trust in social media to regulate itself, since the explosion of misinformation makes the industry harder to trust than might have been the case otherwise.
The same goes for ad fraud mitigation as well, with 38% saying that brands should be responsible. This is up from 32% that said the same last year, although 40% said that verification technology providers should be responsible for it which is a six point increase from 34% in 2023.
Read next: Social Media Users' Self-Perceptions Don't Align With How Others Perceive Them, Leading to Misconceptions
by Zia Muhammad via Digital Information World
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