Technology has shaped advertising as we know it and will continue to shape it as the digital age evolves. Already, we have witnessed so many shifts in advertising due to technologies such as 3D, augmented reality, virtual reality and artificial intelligence. If, as an advertiser, you don’t follow suit, you may fall behind.
Statistics behind advertising
Social media plays a huge part in advertising as we know it and, as a result, social media advertising budgets have recently doubled worldwide, going from $16 billion in 2014 to $31 billion in 2016. Some 76% of marketers fail to use behavioural data for online ad targeting – and, if you’re going for the nuanced approach, it’s important to analyse such data to achieve that fine distinction. The average person is met with some 1,700 banner ads per month, equating to roughly 56 per day, but consumers see only half of these ads.
Mobile proves to be the mainstream
Between 2016 and 2018, people watched more than 50,000 years’ worth of product review videos on YouTube on their mobile devices alone. In our digitally motivated age, customers are increasingly using video content to inform themselves before making purchases. Many of these reviews are actually targeted ad campaigns, and this trend of researching other people’s opinions before making a purchase is certainly giving products good exposure while boosting revenues.
Social networks paramount for research
Over 40% of digital consumers use social media to research new brands or products. The Stories feature on Instagram and now also present on Facebook means that online advertising now has a bigger reach than ever. You’ve probably seen it for yourself; something that you’ve recently Googled or browsed online is now appearing on sponsored Instagram stories and Facebook posts. It’s something you just can’t escape from – when online, you’re continuously consuming brand content, even if you don’t realise.
Facebook is at the forefront
Last year, Facebook owned almost a quarter of all digital video ad spending. Including Instagram, Facebook received almost 87% of all US social media video ad spending. This figure equates to almost one-quarter of all US video ad spending. While it may be a crowded market, Facebook continues to be a popular channel, coinciding with the growth of video ads. You may have just logged on to update your friends of what you had for dinner or to check out your cousin’s holiday pictures, but you’re bound to be met with an ad or two while doing so.
TV advertising still important
Old-school TV advertising isn’t quite dead yet; far from it. The likes of TV and landline phones may have been shunned by many in favour of the humble mobile phone – but, for many, they remain very important, especially in business. There are many ways to use TV advertising to show your products to the world, and a selection of 0333 phone numbers can be chosen from to breathe new life into your landline.
Experts have predicted that, by 2022, spending on advertising for TV will have risen steadily to as much as $75 billion. While mobile is important, TV remains the best form of advertising for marketers who are willing to spend large amounts on campaigns for mass audiences.
That said, as audiences continue to shift to digital media and advertisers chase multichannel campaigns, making TV work for your business is becoming more complex. Brands now need to create TV ads that catch the attention of viewers and keep them engaged. This can be more difficult than anticipated – how often do you ignore the ad break of the programme you’re watching because you’re browsing social media?