Get ready for more disruption in marketing. The tactics and market in which we market is changing and it’s going to effect every brand that markets to consumers.
Here are some aspects of marketing that are changing that all marketers should be aware of..
1ne: In early 2018, Chrome and Safari, which together achieve a 68% worldwide market share for browsers, will deploy major features aimed at restoring a decent user experience which includes blocking online ads and ceasing auto play on embedded video.
2wo: 80% of ad networks applying to join Google’s advertising platform DFP are rejected because they present a risk of fraud.
3hree: Income inequality in the United States is growing . Household incomes are highly unstable, even for those with full-time workers. Harvard Business Review counted spikes and dips in earning, defined as months in which a household’s income was either 25% more or 25% less than the average. It turned out that households experienced an average of five months per year with either a spike or dip. In other words, incomes were far from average almost half of the time. Income volatility was more extreme for poorer families, but middle class families felt it too.
4our: According to GFK “traditional media like TV continue to make a significant contribution to sales, but digital media, in all their various forms, often deliver a high ROI. However, while new digital media channels appear to better target the Connected Consumer, not all of them are effective at driving sales. Research tells us that the contribution made of different media varies by industry and brands.
What does all this mean?
(1) Digital marketing is going to get better with more accountability and better metrics that clearly show ROI’s.
(2) Brands that don’t develop online ads with the same discipline as offline ads are going to see a significant decline in paid media effectiveness.
(3) For some product categories TV is still the best way to drive awareness/conversion.
(4) Consumers, for the most part, don’t want a social media relationship with brands. How many brands in your pantry do you really want to engage with?
(5) Any dip in the economy could cause a ripple effect in the way consumers shop. Marketers need to keep a pulse on the key economic indicators.
(6) Time is the new currency for consumers . Your ads have to relevant to THEM and you need to microsegment.
Now is the time to prepare for the future not when the wave has past and crested onshore. Brands that experiment with new media and marketing are going to be successful while brands that are weighed down by their own internal politics are going to suffer.