As Bill Bernbach once said, “creativity is the most powerful force in business,” it’s something that marketers need to revisit these days.
Technology is ultimately only an enabler, it’s still ideas and creativity that makes advertising relevant at the end of the day.
Nonetheless, there is no let up in the way companies are spending money on digital advertising spend.
According to IAB’s 2019 Video Advertising Spend Report, marketers report that digital budgets have increased 25% year over year and it has reached 75% in the Media and Entertainment category.
74% of U.S. consumers watch streaming or online video at least weekly and 41% watch daily. 78% of digital video viewers are willing to watch advertising in exchange for free content.
Online video viewers pay closer attention to both content and ads when watching educational videos.
The increasing dominance of social influencers is also another element in the marketing mix, with almost 70 percent of brands working with them.
More than 40 percent of them intend to increase their budgets in this area as well.
Speaking to Forbes, Naomi Davis, a lifestyle blogger, says “data does not capture the whole picture…a lot of these campaigns, its about storytelling, its about sharing something in an exciting way that does not necessarily translate to an immediate sale.”
Marissa Curcuru, Manager of Global Media at Bose, predicts that by 2022, marketers can expect 5K technology to transform how consumers use content, and mobile use will skyrocket among all age groups.
Advancements in connected TV and OTT will allow consumers to interact with ads from their televisions and phones and lead to increased product placement within streaming video.
The usual advancements in Artificial Technology will also allow for personalization in digital video.