We are Heading Towards a Transitional Period for Advertising
Anyone who has ever attended a Martech event will know that advertising is now in a state of transition. With these events as hubs of marketing technology, they’re where to find the latest information. The rules of advertising/marketing have changed, with the onset of digital technology. What were facts of the advertising world a decade back, are history today. We’re living in a time of change and innovation. In the words of a certain Frieder F. Neidlinger, ‘changes call for innovation, and innovation leads to progress’. So clearly, once this transition period is through, a lot of progress will have taken place. It’s a fact. Advertising and marketing are in a state of evolution. Or is it a revolution?
Forecasts for the Marketing and Advertising World
When it comes to forecasting or predicting future developments, one feels some hesitation. Why? This is because we can predict with a certain degree of accuracy on certain matters, because of prior knowledge and experience. Certain developments can come into play, however, which we hadn’t originally considered.
- Judging by the declining trend in print media over the last few years, it’s a safe bet that print advertising might fizzle out completely in the next decade. If it doesn’t disappear, altogether, the chances are that it’s presence will be so minimal that it will barely make a difference. Magazine and newspaper advertising will fade away in the digital era.
- Ultimately, traditional advertising avenues will, in their entirety, consist of no more than 20% of the market. Maybe even less. This is something I’ve learned by judging the declining trends in the market.
- The other 80% of the market will be a battle between television and digital media. In the end, digital media will win over television. As one writer pointed out, social media is becoming less about social and more about media.
- With the rise of social media, TV will also fall behind in the race. Social media content will become more exciting and interactive. When one billion consumers are watching television and 1.5 billion are watching Youtube videos, it’s easy to see who’s winning this battle.
- In the coming decade, we can look forward to some great social media content, as this giant continues to impress viewers.This is only my view based on what I’ve seen so far. Suppose another medium comes into play? Something we hadn’t considered? The possibilities are endless.
The Future of Advertising & Marketing
After another decade, we’ll see the difference this transitional period has made. The marketing and advertising worlds have turned digital already. More changes and developments will follow. But one thing is certain. Advertising and marketing have changed forever. As already pointed out, we can’t make accurate predictions when we can’t envisage every development. It will be fascinating to witness the unfolding progress, as it happens before our eyes.