Advertising Services in the Next 5 Years
As the economy begins to recover, the ad business has started growing again. Advertising services have changed quite a bit over the past decade. With explosive mobile growth and an ever evolving web-like TV market, the communications landscape is largely unfamiliar to many marketers. Over the next five years, advertising services leadership will be up against the following challenges.
Targeting the mobile audience
85 percent of the world will have 3G mobile internet coverage and more than half will have 4G coverage by the year 2017. There will be three billion smartphone users generating over 15 times the data traffic of 2015. The screen that is right in consumers' pockets has become the most important screen in their lives. Most advertising services devote one percent or less of their budgets to mobile advertising. By 2020, this figure should exceed 10 percent.
Putting data into play for TV advertising
As more and more people are cutting cable and signing up for Netflix, Amazon Prime, and Hulu Plus, many advertising services are ignoring TV. Despite these significant changes in the TV market, TV continues to be a powerful means of relaying a brand story to a large audience. The biggest problem with TV marketing right now is that it's inefficient. With more and more TV data available each year, TV advertising is finally becoming an efficient means of marketing.
Optimizing the user experience
Many marketing teams think about user experience in terms of mobile app navigation or retail store layout without considering the bigger picture. How can you improve user interaction and experience throughout their entire relationship with a brand? For example, think about how Uber took away the hassle of ordering and paying for car service in metropolises with a streamlined app and host of friendly, reliable drivers. Consider how your brand will have an impact on every day routines. Service and product quality should be at the forefront of your decisions pertaining to the user experience.
Are you overwhelmed thinking about how you're going to stay ahead of the curve in the next five years? Prioritize areas of need and then build from there. For example, if you have positive feedback from customers about user experience but you haven't scratched the surface on mobile marketing, start with mobile tactics before approaching other weak areas.