What is the Future of Advertising?
The question of what is the future of advertising will have a multitude of answers. Depending on the type of answer you are looking for.
The advertising industry has changed over the last ten years. Social media has changed the way marketers communicate with their customers. New methods of measuring metrics and changing customer values have made it possible to capture more data. Pew Research Center says that messaging and buying patterns of younger consumers, including those born between 1981-96 and Generation Z born between 1997 and 2012, have had a significant impact on the marketing landscape as well as the future of advertising.
Where we are today with advertising
The digital advertising industry in 2021 is: growing, under scrutiny and hungry to make a difference.
The users are blind to traditional advertisements.
This is how advertising’s future will look.
If you are involved in television advertising for example, the amount of money that you spend per individual spot can add up to a hefty sum. This is why many television companies make it a point to use the lowest cost possible medium in order to boost sales.
However, there are always other ways that you can look into in order to save money in this regard and here are a few of them.
You can always try out the newest form of advertising, online video advertisements. More people are starting to take notice of how easy it is to become popular with the world wide web.
It is possible to get your own video site up and running in no time at all with the aid of useful softwares. There is also very little equipment that you will need in order to make your videos.
One of the most affordable ways of doing so however, is by renting a high quality video camera from one of your local rental stores.
Another way that you can look into what is the future of advertising is by looking into the different types of displays that are available on the market today.
The biggest trend in advertising has been mobile usage. People are tired of walking past billboard after billboard trying to get their attention. With the introduction of electronic billboards, this has all changed.
What the future holds for marketing
Today’s digitally driven world is threatening the dominance of traditional print and television advertising. According to eMarketer, digital advertising now accounts for over 54% of all advertising dollars. These are the most recent consumer trends in social media. They include QR codes, video advertising and branded sponsorships.
Marketing professionals are able to analyze data to develop more targeted marketing campaigns. Data analytics can be used by advertisers to identify which ads are most successful and how long users spend on different pages of the website.
As social media trends continue to change, digital media and advertising will also evolve. Professionals in this field need to be aware of best practices for websites, apps and other media, as well as the constantly changing methods online users will interact with ads.
Advertisers don’t want you to know technical specifications of their products. They want you feel certain emotions when you interact with their product. This will bring you closer to the brand.
Engaging in social issues is a great way to feel strong emotions. This is what is commonly referred to as woke marketing.
It’s no longer about the products.
Using story telling in marketing
Many storytelling techniques are inextricably linked to another trend, personalization.
There are no more “one-size fits all” ad campaigns that attempt to appeal to everyone in the same way.
It is the time for smaller, more personalized ads with larger budgets.
Users respond more favorably to content that is tailored for them.
The best advertising strategy was, until recently, to display the message ” Hello [smartphone_brand] to users, get a new protective covering”.
We are now approaching the world in which each user receives a unique message. Hello John Doe! In light of your recent breakup would you be willing to buy a new smartphone that will make yourself look cool again?.
This will be possible using technology (artificial Intelligence to be more precise) and not people.
Without measurement, personalization is impossible. This is an old problem disguised as a new one.
It’s no longer about conversions and clicks. its going to be about measuring emotional responses, How about focusing your eyes? What is your heart rate? All kinds of data will be collected by the tech of tomorrow.
Privacy issues makes it difficult to track every individual. It may not even be economically feasible.
A person who runs an ad campaign sees a single visitor as belonging to a group that is similar in terms spending habits, but not necessarily in other aspects like demography or location.
Smart grouping is based on behaviors and interests. Other will likely follow. These groups or the ‘Federated Learning of Cohorts, (FLoC) will be the tracking target of future.
It’s possible to see the irony in it. It may be that you are not as unique as your thinking would lead you to believe. AI can group people with astonishing accuracy. This is better than any marketing theory.
These are some statistics
• Programmatic advertising is currently used by 72% of publishers and 85% of advertisers ( IAB).
• Nearly 80% programmatic advertising spend will be spent on mobile, rather than desktop ads ( eMarketer).
• If asked which types of mobile ads were most annoying, 73% responded that ads that cover the entire screen are the worst ( HubSpot).
• Mobile users are more likely to value search ads than others because they’re more relevant to their information needs ( HubSpot).
• Twitter ads are 11% better than TV ads during live events. ( Tweet
• Worldwide mobile advertising expenditures reached 189 billion U.S. Dollars in 2019, and is projected to exceed 240 billion by 2022 ( Statista).
• Mobile advertising has seen rapid growth in the last few years. However, it is expected that it will slow down to 10.4 percent by 2022 ( Statista).
Programmatic mobile advertising spend is on the rise, while in-app ads are still the most popular. Mobile advertising automation will only continue to grow.
Mobile advertising is a great way to get more users.
The future of advertising will be interesting. As technology evolves, so will marketing strategies.