Future of Advertising

The future of advertising is in digitizing the world, and collecting data to identify needs of a consumer and become transparent. Similar to how Google works, imagine after using your fridge for a while, it can understand what food you like and when you buy. It can have a check on stock quantity and inform you on low stock  and pointing out the closest shop having those stocks.

Such data collected will allow each other to exchange values better and build deeper network providing the advertiser and marketers to better defining their target audience and deliver the most relevant message to their consumers.

Technology will be the focus:

With access to such data’s advertisers & marketers are of course benefited. As 68% of advertisers/agencies believe that advertising effectiveness will improve. But for some this might be a scary picture, as what kind of information should remain public & private. And as a result, continual change in privacy regulations will continue to be an important part of this phase.

Advertisers are most likely to explore many different ways to place Ads . Senses like smell and taste are expected to be on focus, with smell & taste generating technologies. With the innovation in 3D printers, advertisers will be able to print a model of an yet to release product; eg: mobiles while with haptic feedback will allow one to experience using the mobile in remote areas.

Every single device will be connected:

A survey conducted by Forrester Research, found that 61% of respondents agreed that planning for online video and linear television would merge within the next three years. As we are currently juggling between lot of devices IBA Research says, by 2020, more than 30 billion devices will be wirelessly connected to the “internet of things.”

TV channels will disappear:

As people have already started moving towards On Demand, video recording devices, personal video recorders (PVRs) and Internet to television are most likely to not use channels and will slowly shift viewing from broadcasts on TV screen to multiscreen, on my schedule and user controlled experience. But this leaves us all with a question, How are brands going to place Ads in specific episodes to reach sufficient viewers?

The answer is, brands will start looking for new types of apps to integrate in popular series and movie characters. We will see new forms of advertising where apps will provide in context advice by the show’s characters. For eg: An app based on a Dance show will be able to assist with dance classes near by.

Mobile the game changer:

As for most of us, the mobile phone is never out of sight. It knows almost everything about you. This tiny device allows us to read, listen and buy things. Very soon it might start reading your mind.  But currently marketers allocate only lesser budget for mobile advertising. As advertisers understand that one spends half of his/her time in mobile, are still exploring the right way of mobile advertising. Keep an eye, mobile advertising very soon will be big.

Small agencies to rule:

In the past, big agencies ruled, size really matters and big brands wouldn’t even look at small ad agencies. But now, many brands are craving fresh minds and out of box thinking, which they are finding with smaller agencies. The great merger of publics and Omnicom shows the panic situation, big agencies are now investing in research and development to reinvent their business as bid brands are seeing potential in small agencies, big agencies are becoming minor.

Online Ads, the big boom:

Earlier ad agencies used to be behind publishers to buy slots and advice clients the right place to show up ads. But now, Google & Facebook which controls around one fourth of all online advertising spending, made online advertising more speedier and smarter by providing data’s of their audience, depending on which brands/ Ad agencies directly buy slots with specifying their target audience with real time bidding.  Now advertisers can easily decide on how much they want to spend and exchange ads spaces on websites, all in just few clicks.

Filled Under : Advertising