understand the changing face of advertising
Advertising has changed significantly over the last 10 years and will continue to do so in the future. While the growth in digital advertising at the expense of offline advertising has been dramatic, the evolution in digital advertising and demise of traditional advertising will intensify over the next 5 years. This is the third of five thoughts on the subject of the changing face of advertising.
Recent research in the United States predicts that by 2022, 80% of the advertising process will be automated. The remaining 20%, it suggests, will comprise brand value, storytelling, and other more experiential tactics that will always need a human driver.
Other studies in the United States found as follows:
- Advertising technology revenue is set to grow over 300% by 2020
- By 2019, 20% of user interactions with smartphones will take place via virtual personal assistants.
- VR ads, for example, aid in same-day recall for 70% of users in 2018
- By 2020, over a billion people worldwide will regularly access AR and VR content
- Social media advertising will be worth $50.2 billion in 2019 and will overtake newspaper advertising by 2020.
- 80% of Millennials see value in brands engaging them with personally
These findings provide just a small insight into the rapidly changing nature of advertising and communication in general in the marketing context. There are many more.
There is also research highlighting the increasing diversion of marketing dollars away from advertising and into:
- Understanding the customer and customising the product accordingly
- Building and leveraging online communities
- Building tribes and engaging in ‘permission marketing’
- Developing customer experience that delivers repeat business and referrals
- A raft of strategies and approaches that reduce the dependency on advertising
In 2018, understand the changing face of advertising
Every year – put the facts ahead of intuition and guesswork.
Sources of core statistics – Business Insider, Digi-Day, CMO, ADWEEK, Future of Everything, Information Age and Forbes