The media industry is following an “adapting approach” to delivery for clients, driven by the way technology is evolving the way we communicate or engage with consumers.
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A few examples of this are:
RTB
Real Time bidding driven by programmatic buying will enable media to deliver the right ad to the right person at the right time.
App centric content design
Ever evolving native apps will enable brands to empower consumers by offering them relevant content.
Wearable tech
As this technology gains interest, consumers are able to own their data.
Native brand publishing
The new world of content, where an ad looks and feels like the content that surrounds it. A reader may not notice that the advertising they are consuming is at all different from the rest of the digital content they’re reading.
When it comes to keeping ahead in the advertising industry accurate measurement and high levels of engagement are key. There are six notable upcoming trends which will be definitive game changers.
1. New viewership measurement
We need to move to a Cost Per Thousand (CPM) model of thinking to enable cross-platform measurement.
The more traditional Cost Per Point (CPP) method excludes digital which is not a true reflection of the consumer experience.
2. Mobile at the centre
The growth of smartphone and tablet usage, as a result of increased affordability of devices allows more consumers access to data. A seamless experience across screens is a must for consumers, meaning Mobile is mandatory for brands.
3. Share of engagement is the new share of voice in media
Paid media spend is declining. Money is moving into owned and earned spaces – driven by digital. This means you can no longer look at paid media spend in isolation to determine share of voice. It’s all coming down to who has the highest share of engagement. Dash-boarding tools are critical to the media agencies of the future.
4. New customer journey
Connected consumers are ripe for responsive brand marketing i.e. real time, contextual delivery, ecommerce, social media etc.
5. More interactive static touchpoints
Digital OO and in-store screens will grow, requiring content strategies to manage engagement levels.
6. Content led strategy
Globally we are seeing on average 28% of marketing budgets being spent on content marketing. Advertising spend from a paid media perspective is now 60% of the budget (was 80%), growing earned media at 30% and 10% of owned (Source: IAB).
We are being asked to look at owned media before we consider paid media options – hence Advertiser Funded content is becoming a key focus. Our need is content relevant to the consumer experience, which is not interruptive, which looks and feels similar to the “publishers” environment.
Working with global brands it’s essential to be mindful of global competitiveness. Driving best global practices; efficiency; growth of specialisation and skills development allows us to locally operate at global levels.
To be a player in this space you need to love what you do and love change because this industry is constantly reinventing itself. As we grow with the consumer we gain new insights on how to grow our clients’ business.
