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Shock of the new - Future Trends in Advertising

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Shock of the new - Future Trends in Advertising

  1. 1. SHOCK OF THE NEW in Advertising From Behavioural Advertising ,Semantic Advertising, Perceptive Media and MeMedia to Native Advertising, Synaesthetic Marketing and Sympvertising Professor Luiz Moutinho Foundation Chair of Marketing Adam Smith Business School University of Glasgow, SCOTLAND
  2. 2. One of the deepest secrets hidden at the heart of 21st century economics: Markets, networks, and communities can organize economic activities radically more efficiently than companies.
  3. 3. We are only beginning to understand the huge consequences of the shift from DISCONNECTED to CONNECTED from “The Network” to NETWORKED
  4. 4. TRENDS • Multi-lateral consideration vs. “Egoism”. • Sharing and Collaboration vs. Walling • “Collaborative Competition • Skillful Open – Closed Continuum • Transparent vs. Secretive • Trust and Merit vs. Control
  5. 5. Paring Down Marketing Messages to a Few Simple Basics Simply put, a lot of what Madison Avenue says these days is simply put. “Simply,” “simple” and “simplicity” – along with like-minded thoughts that include “easy,” “honest” and “clear” – have become marketing buzzwords in response to three related trends: how busy life today seems, the growing complexity of technology and the increasingly complicated economic picture. That has encouraged advertisers to woo customers with promises to provide solutions that are meant as simple but not simplistic.
  6. 6. “Simplicity is the new luxury.” The intent is “transparency, clear, concise messaging,” derived from a philosophy that “what you hear from us is what you get from us.”
  7. 7. REACTIVE ADVERTISING …… is mass customising how ads look and behave based on the unique conditions of each exposure. …… is about using data and variables to enhance messages in a creative way – just like we use sound, graphics and interaction • Using advanced “targeting” technologies. • Data smart message
  8. 8. SYMPVERTISING ….infusing consumer advertising with a pinch of sympathy that acknowledges the tougher times most consumers are currently experiencing. Small indulgencies to “ease the pain”. Catering to the concerns of customers. Times of economic uncertainty.
  9. 9. • Internet browsing has trained consumers to more quickly disregard empty words • Message relevance has become more important than repetition • Meaningful messages are working better than ever • Ads full of unsupported claims and overworked “image building” phrases are rejected quicker today than ever before
  10. 10. Paradigm Shifts in Advertising From To Likability Linkability Display Search Attention Recommendation Mentions Meaning Simple Complex Legacy Leverage Device – Centred Person – Centred Media (liquid media)
  11. 11. Paradigms Shift in Advertising STOP START Interrupting Engaging Directing Connecting Shouting Delivering Content Reacting Interacting RO Investment RO Involvement Big Promises Intimate Gestures Explaining Revealing
  12. 12. IGNITERS Companies and marketers should think of themselves and their content as igniters of conversations, not interrupters
  13. 13. IDEAS/SOLUTIONS FIRST At the core of any website, widget, banner ad or mobile app created for advertising should be a distinct, singular, compelling idea/solution which connects you with a company, brand, product or service. The best ideas, even in the digital space, should cause you to say, “I had not thought of it that way before”. They should our perceptions
  16. 16. • People are upgrading technologically and are more and more avoiding advertising actively. • Society is reacting as well: advertising is getting barred from public space. • An inconvenient truth: classical brand communication is getting more and more ineffective and inefficient. e.g. 82% ADV in Germany is generating a negative R0I
  17. 17. THE BEST ADVERTISING ISN’T ADVERTISING Wondering which half of your ad spend is wasted? ‘Wrong question. Try again.’ Instead of interrupting people, serve them and make them feel something. Sorry, but that takes longer than thirty seconds. Make meaningful connections.
  18. 18. ……and yet ads, ads, ads – everywhere estimated 4,500,000,000,000 (4.5 trillion) online ads served annually. = 2,000 ads per person per month (2010)
  19. 19. MAJOR IN MEDIA PLANNING • Data overload • Search will rule • Consumers in control • Advertising becomes independent of content • End of programme and commercial ratings • Ads will become independent of media choice
  20. 20. CROSS-MEDIA CAMPAIGNS The role of media sequence on consumer responses to cross – media campaigns. It looks specifically at a combination of TV ads and websites. A TV commercial – website sequence performs well in informing consumers about high and low – involvement products. Media sequence is important in cross – media campaigns.
  22. 22. There has been a tremendous shift away from the model of interruptive marketing. Nearly 90% of people skip over TV commercials; nearly 85% in the 25 to 34 age group leave websites that have ads. Consumers will no longer tolerate being bombarded with irrelevant content – they will decide for themselves when they want to address a certain issue, and they will seek out the relevant channels to do so.
  23. 23. EMBRACING NEW MEGATRENDS IN THE BRAVE NEW WORLD OF DIGITAL MEDIA Consider the ways technology is rapidly transforming the media landscape – and our lives – owe the seismic shift from presentation to participation. The other the paradoxical shift from using technology to connect to also using technology to disconnect. The shift from presentation to participation means that the days of the Media Gods, sitting up on Mt. Olympus and telling us how things are, have long since ended. People are tired of being talked to, they want to be talked with. Ours is a global conversation, with millions of new people pulling up a seat at the table – indeed, nearly 3 billion will join the internet’s community by 2020.
  24. 24. Luckily there is a powerful, countervailing force using technology to get away from technology, reflected in apps and features like freedom. DO NOT Disturb, and GPS for the soul. Another trend is the shift from searching for information to searching for meaning. So the future is hyper-connected – except when it is blissfully joyously disconnected. And an understanding of these megatrends can guide us to a place where we are more creative, more effective, more compassionate and more capable of making things better for ourselves, for our brands, and for the world.
  25. 25. Marketers used to be the people that reached the people (the consumers), now the people (as participants) are the ones who reach the marketing.
  26. 26. Now, People will subscribe to people. Engage or be tivo’ed…. • Economic Egoism – is not working anymore • Value can no longer be defined,…..Just by unit sales.
  27. 27. MARKETING SOLUTIONS • Go beyond commercial messages • Solve something • Involve people • Enable people • Allow people to participate • Create brand true fans • Deliver value • Make people’s lives better
  28. 28. Attention is becoming less important than VALUE. Because in the new marketing economy, marketing moves from existing inside media channels to becoming an integrated part of our everyday life.
  29. 29. • Instead of Advertising, Provide value • End of Advertising as we know it is here! • Advertising will change more in 5 years than previous 50 • If you talked to people the way advertising talks to people, they would punch you in the face… • People do not need advertising anymore to tell them about new products. And if they want to find out, they will on their terms. • Content is the new currency.
  30. 30. CONTENTCASTING People will gladly spend a minute of their day composing and publishing their own version of the brand story, but they will not give five seconds of their time to listen to the company stating their version of it.
  31. 31. The opportunity we get from thinking outside of attention and engagement is that it opens the advertising to a much healthier degree of brand and product positioning. Because we can say that the goal of advertising is to create value, in a way that places no demand on stealing time away from people, keeping consumers interested long enough to tell a full story.
  32. 32. SPONSORED STORIES As its stock continues to be battered by skeptical investors, Facebook is hoping that a new advertising format, called sponsored stories, may help overcome concerns about its future.
  33. 33. NATIVE ADVERTISING A marketing strategy that allows the promotion of brand contents in an integrated and non-intrusive format, when applied to websites. Contextualisation of the message. New ways of sharing, i.e. Google plus.
  34. 34. NATIVE ADS ARE FINE, BUT VIEWABLE ADS ARE BETTER Vibrant, created new platform called “Mosaic” to help brands surface their content and campaigns across channels and platforms.
  35. 35. EARNED MEDIA • We are increasing seeing earned media outperform paid media and becoming the main driver of traffic to marketing initiatives. • Earned Media is earned, which means, it finds and links to something this is valuable. • If the marketing is valuable, then the media channel needs to offer the space for where the content resides. • No advertising…… • …….the joy of not being sold anything.
  36. 36. The concept of earned attention no doubt comes across as a more intelligent budget spend, showing measurable value for money rather than the approach of throwing lots of stuff at a wall and hoping some of it sticks. Experimental creativity, storytelling and brand immersion is the future.
  37. 37. MOBILE ADVERTISING – the challenge Mobile ads are meant to be the next big thing in advertising. Yet traditional advertising doesn’t work well on mobile and much mobile advertising is described as ‘mediocre’. In addition mobile ads can be disruptive but not necessarily in a good way: people don’t want to be interrupted while on their phones. Meanwhile eMarketer predicts that the global market for mobile ad spent $6.4 billion in 2012, rising to $23.6 billion by 2016.
  38. 38. GEO-FENCING: The Future of Advertising is Outside of Media • A revolution in geolocational, text-messaging advertising. “Geo-fencing” advertising, here “geo-fences” are created within a certain distance from physical stores, and when people pass inside those fences – and if they have opted into advertising from the company – they receive promotional text messages. • Geo-fencing draws a virtual perimeter around a particular location. When someone steps into the geo-fenced area, a text message is sent, but only if consumers have opted into receiving messages.
  39. 39. DESIGN CONTEXT-SENSITIVE PROMOTIONS TO OFFER THE UNEXPECTED. • With advanced omni-channel analytics that tracks product affinities and market baskets in real-time, retailers can finally know how to entice customers to shop more and make impulse purchases. • Many top retailers across segments are utilizing GPS for location-based marketing to people in the store proximity. • Google now enables you to bid by location, so retailers can put unique search ads based on proximity to a particular retail location.
  40. 40. IN-STORE: Real-time analytics • Personalised on-the-spot deals: By sending personalised offers directly to the customers’ mobile phones while they are in the store shopping, cross-sell opportunities can be drastically increased. • Mobile offers to people who “check-in” to your store. • QR codes for instant rewards: QR scans also provide invaluable customer demographic and shopping tendency insight. • In-store kiosks, games, mobile applications.
  41. 41. SEMANTIC ADVERTISING Semantic Advertising applies semantic technologies to online advertising solutions. The function of these technologies is to semantically analyse every web page in order to properly understand and classify the meaning of a web page and accordingly ensure that the web page contains the most appropriate advertising.
  42. 42. SYNAESTHETIC MARKETING Synaesthetic marketing takes many forms; the most popular uses a mix of sensory adjectives in advertising. But the challenge is to make multi-sensory marketing that sells, which means that the message has to appeal to most people and to be based on cross-sensory mapping that most people share. Sound symbolism in brand names can also send messages about the product. People tend to match bitter drinks with angularity, which is reflected in the logos of many beer brands. In the future we may experience advertising featuring shapes you taste, colours you feel and sounds you smell!
  43. 43. GLADVERTISING • Advertisements that adapt to our moods (Gladverts) • Emotion Recognition Software (ERS) – H-C-Interface technology • A System which can work out a person’s gender, estimate their age, and serve up adverts that suit to that demographic profile (NEC-Japan)
  44. 44. 3-D IMAGE MARKETING A 3-D holographic projection – which is probably the most futuristic – sounding advertising mechanism. It is a simple concept: a company broadcasts its messages from behind a storefront window, or on a wall – but the image leaps out at you, instead.
  45. 45. Key Trends in Marketing Innovation and Technology Mega Reach with Micro Marketing (e.g., broadband video ADV., 90% of all US households with broadband internet access now). Hyper Programmed Experiences. Micro-vertical content categories (e.g., MTV). Transmedia Planning – An evolving non-linear brand narrative. Different channels for different, self-contained elements of the brand narrative that build to create a larger brand world. Consumers then pull different parts of the story together themselves.
  46. 46. • The removal of destinations and increased attention to streams are increasing. • Both the idea “stream of particles” “and witness the unfolding events” give a clear notion of the abilities of storytelling on connected and participatory platforms. • Move towards Platforms over campaigns. • Self Filtering of social media participation.
  47. 47. INTERACTIVE ADVERTISING PLATFORMS Support NFC as well as QR code technologies with a single platform. Configures Smart Posters to your choice in real time – create dynamic smart posters. The Dynamic Platform has the ability to: • Manage poster content • Configure, deliver and redeem any rewards • Provision the content or value based rewards to the mobile phone • Integrate with the existing advertising or retail infrastructure • It also provide the mobile client, software to download content from posters and store in the secure element of the phone and transfer on demand. • Unified platform that supports NFC as well as QR code technologies for advertisements.
  48. 48. IMMERSIVE MICROMEDIA AND MICROKNOWLEDGE ENVIRONMENT • Consumers are suddenly nomadic gatherers of knowledge. • Microchunks result from the “unbundling of traditional media goods”. Meme-sized chunks. • Attention costs dominate production costs. • Continuous Partial Attention…. Attention Crisis. • Life Inter-Rupted • Integrated microcontent • Folksonomies – Personal Info-Cloud • The Microcontent-based web 2.0 is NOT about people and communities…. It is about Signs and Screens.
  49. 49. • Digitalisation leads to a higher portability of equipment and content. • Media and content are used more and more independently from location and time. • The effect: “liquid” media consumption. The era of predictable, large media prime time is over. • Behavioural Advertising – the use of micro-engagement platforms. • MeMedia
  50. 50. PERSONAL BROADCASTING • Personalised Adverts (Absolut Radio – UK) • Liquid Media • Personal Media Aggregators • Personal Advertising Curation
  51. 51. PERCEPTIVE MEDIA Takes narrative back to something more aligned to a storytelling and an audience using internet technologies and sensibility to create something close to a personal theatre experience. It adapts the story to the audience without them having to explicitly interact with it, uses information about the audience to adapt the story within the scope defined by the storyteller.
  52. 52. SHOCK OF THE NEW • Expect “co-viewing” across TVs, tablets and smartphones to be the norm. • Voice is the new UI. • With phones programmed to talk back, voice recognition has jumped from GPS devices and robotic voices into the mainstream of user interfaces. • Expect more and more interfaces that do not require a UI – UX designers, get your flow diagramming on.
  53. 53. 2 Areas where Agencies are “out of synch” Agencies have optimised their businesses for themselves, not for their customers. • Disconnect 1. Most large agencies are Mass Production Factories… while the world needs Multi-Disciplinary Boutiques. • Disconnect 2. Agencies compete within “Their Crowd”…. While the competition is transforming…
  54. 54. 10 + 1 FORMATS: AGENCY MODELS OF THE FUTURE 1. The Factory 2. The Category Killer A: Media 3. The Category Killer B: Curated Creative Marketplaces 4. The Category Killer C: Production Machines 5. The Customer Specialist 6. The Serial Monogamist 7. The Marketing and Communication Boutique 8. The Craftsman 9. The Fragmented Giant 10. The Persistent One 11. The Pop-Up Agency
  55. 55. THE FUTURE OF ADVERTISING: the model is broken The world is your creative department. The old system of agencies employing a few creative teams to come up with agenda-setting ideas simply doesn’t make sense in a digital era where ideas can and should come from anywhere. Digital tools can be used to tap into the wider world of creativity, and can do so with a lean infrastructure.
  56. 56. PICK THE RIGHT CROWD Mass collaborations, co-creation, and crowdsourcing are becoming increasingly important vehicles for companies looking to engage the voices of consumers with brands. At last count there were more than 100 crowdsourcing platforms available for some kind of design or marketing work. Picking the right one is key. There are many factors to consider, from who is in a particular crowd to how talent is paid or how intellectual property is handled. Many times success will come from breaking a project into smaller pieces and tapping different crowds for the various different elements. In general, it seems its best to combine small private crowds (these days know as “expersourcing”. As the world becomes more digitally connected, we should celebrate the fact that marketing and advertising ideas are coming from everywhere.
  57. 57. ……Advertising may be described as the science of arresting human intelligence long enough to get money from it. (Stephen Beacock) …….. NOT ANYMORE