Advertisements can make or break a product/brand. It is that crucial but invisible step in a product’s life cycle, which has a major impact on the stage of the product apart from its quality and performance. The industry has simply moved over traditional advertising and is tapping on the potential of digital advertising. As per a report by Accenture, companies are investing 41% of the advertising budget on TV and digital media each, with a meager 10% on print media and 12% on other. This clearly proves that social media has taken the world by storm and digital marketing has become mainstream.
With competition at its peak, companies are extensively promoting themselves through various mediums, either by outsourcing to ad agencies or relying on the in-house marketing team. So, what all would we get to see in the coming future? Surely, it would be much more creative and out of the box. Let’s unwrap the future of advertising below:
- Boom of digital advertisement agencies: Outsourcing the work to ad agencies has been a common practice in the industry, since it lets the brand focus on the core production and marketing activities. But, publishers, editors and people working for the print media have begun to feel the growing pressure created by digitalization. Majority of the people own a smartphone and with Jio launching affordable internet packs, a large chunk of the rural population would also have access to the internet market. Agencies that cater to online advertising and social media promotion are there to stay and make money in the long run.
- Introduction of bots: We can see a lot of brands coming with the concept of bots for a more personalized experience. For example, Hike has a bot ‘Natasha’ to interact with the user and also send him/her quotes, games, etc. as per the preference of the user. Soon, bots would be helping us shop online, suggesting some customized products, by observing our needs and choices.
- Blogger Collaborations: Collaborating with bloggers helps to reach a niche market and many brands like vlcc, inatur, kiko Milano, etc. have begun using this advertising tool as an effective measure to reach targeted audience. If we take into account the beauty and skincare industry, they conduct workshops, hold blogger meets, send pr packages to bloggers, etc. to cash on the followers of those aspiring/existing bloggers. This requires minimum budget, but the reach in the targeted market is huge. Also, brands can choose to do a guest post on a blogger’s website or advertise on their domain through ad banners, to create buzz about its products.
- Mobile-based advertising: The indulgence into mobile phones has been growing with the possibilities a smartphone can provide. With technological advancements, people are able to watch live TV, design presentations, submit job applications, connect devices, share data with a tap, do every possible thing on the internet, since websites are mobile friendly. Users have the option of ad blockers, pop-up blockers, etc. so even if an impression is being created; the user might not have given attention to the ad. App based marketing will rise as the ‘free’ version of an app doesn’t have the option of turning off advertisements. Also, many brands launch their own app for a better customer friendly experience but it is an expensive process to develop and maintain an app since users are harsh when giving reviews.
- Fewer but relevant ads: Whenever one visits any website, he/she is bombarded with ads, which decreases user experience. In coming times, there might be fewer ads, but relevant ones. Advertisers are trying to be more specific with the appeal and quality of the ad.
- Content is the King: This is one of the biggest reasons why brands outsource to ad agencies. The quality of content in an ad is extremely important for a product to perform well in the market. Future ads would have better drafted content highlighting the USPs of the product/brand and sticking to the primary advertisement appeal.
- Social Media: If the content is good, it spreads like fire on social media. Crisp and cool ads perform well in terms of customer reach on social media. With the feature of insights, one can easily evaluate the success of each ad. Brands have now started focusing on their page/account on these social media handles and increased active engagement with its audience to get a regular feedback and enhance the brand image.
Apart from the above pointers, it is extremely important for any company to give valuable and regular inputs to ad agencies if they are outsourcing, since it would help create better and specific content for the brand. With the advancement of technology, and people becoming internet savvy, it is favorable to produce more graphic and visual content since it leaves a lasting impression on the minds of the consumers.