In today’s contemporary world, where we are introduced to in numerous commodities each day, the markets have become extensively intricated and ornated and so advertising has become almost the sole medium of marketing for businesses to fulfill the requirements of the complex markets.
May 27, 2017
Advertising is pervasive. It has become an integral part of every small, medium and large organisation all over the world. The subsistence of any existing or new product, service or event in the market largely depends upon its promotion. In the olden days, when the products and services were limited, advertising was still an important medium to influence consumer’s behaviours and their choices. In today’s contemporary world, where we are introduced to in numerous commodities each day, the markets have become extensively intricated and ornated and so advertising has become almost the sole medium of marketing for businesses to fulfill the requirements of the complex markets.
Technology -Boon for effective advertising- As markets are altering, simultaneously, advertising is also evolving to match the flow. From drumbeaters to newspapers, radio to television and digital advertising on internet or mobiles, advertising has grown manifolds.Technology is radically changing the advertising business. With more sophisticated technology, companies are able to customise their ads for specific audiences with access to consumer data available over the internet. Be it the launch of a smartphone, or the release of a TV serial or movie, has gauging the success and failure of these even have become remarkably accurate and easy. Surprisingly, it is not only limited to large metropolitan cities now. In the small towns, semi-urban settlements and villages, advertising has become ubiquitous. Advertising is continuously reaching micro level and becoming more specific in terms of selection of platform, content, region, timeline and consumers for campaigns.Accessibility of internet to the nook and corner, customized campaigns or development of advanced software to accurately measure the performance of ad campaigns; technology is playing major role to fortify Advertising.
Trends in Advertising- Mobile advertising is promising for years to come due to a continuous increase in mobile handsets in India. As per the latest survey, the smartphone user base in India has reached over 300 million. With the new entrants in the market andthe easy and affordable internet access, the demand for smartphones is growing at a fast pace. It is giving impetus to mobile advertising as they connect directly to consumers. Another transformation in the market can be noticed with the introduction of Apps.As per the mobile-app analytics company, India is the world’s 4th largest mobile app economy. Indians downloaded over 6 billion apps in 2016, up from 3.5 billion in 2015. Adoption of Apps is rapidly growing and creating opportunities for advertisers and publishers to connect with end user with more specific and concrete ad campaign.
Mobile Games Advertising-The overgrowing craze of mobile gaming is also strengthening mobile advertising across the globe. App Annie’s fourth annual Report has mentioned that games generated approximately 85 percent of mobile app market revenue in 2015. This represents a huge total of $34.8 billion across the globe.
Multilanguage advertising- Gone are the days when internet was extensively used by the individuals having knowledge of English. Now internet has become multilingual,enabling local language content which is engaging more and more users.
Automation and programmatic buying of media- It refers to the use of machines to buy ads. Unlike the traditional process that involves RFPs and manual orders, Programmatic buying includes the use of software to buy digital advertising. It is quick and offers cost effective, better optimized campaigns and engage right audiences at right placeand time. Programmatic buying is an intelligent way to design more sophisticated and targeted campaigns to connect with the consumers efficiently.
Native advertising- It is paid advertising which is harmonious or symmetrical to the platform upon which it appears.Native ads mingle into the surroundings on platforms like facebook, twitter, linkedin, youtube, blogs and any other platform where people arrive to grab information. More accurately, the word "native" refers to this coherence of the content with the other media that appears on the platform.
Online Video ads- Video ads are more appealing and catch the attention easily in comparison to other digital ads.It is rapidly gaining momentum.
It is evident that theevolution of advertising is unstoppable. As soon as any technological advancement happens, advertising mould itself to fit well into the scenario. To keep alive the essence of existence, it is necessary to change with the flow. As per the WPP-owned media agency Ad spending in India is expected to grow at 10% to reach Rs. 61,204crores in 2017 and if we particularly talk about Digital media then it will continue to be the fastest medium with 30% ad spending growth rate. Hence, the future is alarming and advertising will rock as ever.