The advertising business in the next 5-10 years will be taken over by social media. Already a major component to campaigns today, social media will be the central aspect that all the other components support. Soon, successful campaigns will not be assured by budget size. It will be determined by the strength of the idea and its ability to motivate people to take action and participate (Burkitt, 2009).
In response to the social media demand, we’re going to see more specialized agencies pop up that only offer digital, PR, and promotional services (Sacks, 2010). Traditional advertising agencies will no longer be in demand. That being said, what we know today as print and direct marketing will no longer exist. “Print” ads will soon refer to the ads shown in digital magazines people download to their tablets and on rotating video billboards. Direct marketing will exist in the form of customized Facebook messages and tweets directly from the brand. Consumers will also engage with the band on their mobile devices. Every brand will have an engaging app and that allow for communication in real time. Consumers will be bombarded by messages based on their location or in response to other content or apps they are using.
While the Internet and television have already begun the merge into a single medium, we can expect consumers to have more content control then ever. TV on Demand and sites like Hulu are convenient to watch what you want when you want it. I can see networks moving away from running a nonstop program lineup everyday and switching to a menu where viewers can watch exactly what they want no matter what time of day. If TV does morph into showing only consumer selected content, there will be an increase in product placement and hybrid ads. Marketers will know exactly who their target is and be able to perfectly customize their ads to engage them like never before.
Successful advertising is no longer as easy as creating a fabulous campaign. It is dependant on building and maintaining relationships between consumers and the brand. Advertisers new goal is to build loyal brand community to engage consumers in a conversation instead of just pushing messages at them (Burkitt, 2009).
Sources:
Burkitt, L. (2009). Future of internet advertising. Forbes. Retrieved from: http://www.forbes.com/2009/10/09/matt-dercole-cmo-network-digitas.html
Sacks, D. (2010). Future of advertising. Fast Company. Retrieved from: http://www.fastcompany.com/magazine/151/mayhem-on-madison-avenue.html?page=0%2C5