Digital Advertising Techniques That Impact the Bottomline
Expectations in the digital advertising arena:
Advertising is fluid.
While traditional channels such as television, print media and radio still account for a significant portion of total advertising spend, digital has recently swept the market like a hurricane, gaining a dominant position for the first time in 2016. In the U.S. digital ad spending is expected to hit $83 billion in 2017, and in 2021 it will show double-digit annual growth, nearly half of total ad spending, reaching $129.2 billion. reaches $30 million.
The internet landscape as a whole has changed dramatically.
Simultaneously, as television executives finally acknowledged new market realities, search advertising has relinquished its seemingly invincible position in display advertising, owing to the rising popularity of rich media such as videos.
As a search marketing professional, I can assure you that neither Google nor search is losing its luster.
Together with Facebook, Google — which also has a significant presence in the display ad space through AdWords, AdSense DoubleClick, and YouTube — will dominate the digital advertising sector as a duopoly, raking in the majority of total ad spend and preventing new competitors from even considering placing a wager.
Consumers are in transition.
The audience of tomorrow will be more attached to their cell phones than ever before. Unlike their forefathers, they will be online even while sleeping. Many of them use ad-blockers, making it harder to reach a certain segment of the audience. Millennials (those born between 1977 and 1994) will be the new majority in the United States and around the world. Because of millennials' obsessive devotion to their phones, mobile advertising will fuel industry growth in the future. Millennials think and act significantly differently than other consumer demographics, so much so that much has been said or written about their peculiar perspectives. Smart brands, understandably, are paying attention.
Technology advances are surpassing organisations' ability to keep up.
Big data, machine intelligence, visual effects, augmented reality, advanced analytics, and processing of natural language are just a few of the technical buzzwords fuelling strategic discussions from the shop floor to the C-suite. AI-driven solutions such as picture recognition and chatbots are increasingly helping companies get their message to their target audiences on top of the bright data analytics tools embellishing a digital advertiser's tool stack. Unfortunately, not all organisations are quick to adopt new technologies.
So we're at this crossroads a little awe-inspiring and perhaps also threatening. Digitisation is progressing. Technology is fundamentally changing businesses. Consumer behaviour is changing before our eyes.
The real question is, can we afford to use the same promotional techniques over and over again?
Digital marketing strategies that keep you ahead of the competition
Forward-thinking organisations, particularly B2B firms, simply cannot afford to remain stagnant. The tempo and scale with which the landscape is changing dispel any doubt that advertising strategies must also adjust.
Here are some examples of how you may use change to build your brand, better engage your audience, and generate more income.
Embrace multi-channel marketing. While focusing is essential, you can no longer rely on just one or two channels. Consider it hedging your bet by investing in a diverse range of assets. You must have a significant presence in all channels (web, mobile, search engines, social media, etc.) and on all platforms (desktop, mobile, laptop, tablet) in the digital arena or risk being left in the dust. Finally, even offline media should not be ruled out, particularly when an offline promotion (billboard ads, transportation advertisements, etc.) makes sense.
Adopt content marketing. Advertising a product through in-house or third-party content is an old method, but it still works, especially when your ad flawlessly yet unobtrusively fits insightful, relevant, authoritative, and useful information. Relevant callouts have been shown to increase the number of purposeful clicks.
Take to the road. Even now, most individuals will become irritated if they are separated from their cell phones for a few hours. While this may be upsetting, treating mobile as a critical component of every advertising effort is the only way ahead. Smartphones are used to snap photos, write journals, read news, make personal budgets, connect with friends, play games, collaborate at work, and do a variety of other tasks. They also use it to shop, bank, and make both online and in-person payments. Every mobile interaction has evolved into an opportunity for direct, personalized, and highly actionable advertising.
Express your label where it matters. Because billions of people and millions of enterprises use their ecosystems, Facebook and Google effectively control the landscape. Overall, Google controls over 41% of the digital ad industry in the United States, while Facebook controls roughly 20%. They collectively own an equal portion of the mobile market. According to data, Google will continue to dominate search, while Facebook will continue to rake in display ad sales for the foreseeable future. Exuding a weak presence in either area can either increase your opportunity cost or disseminate negative publicity about your company virally.
Don't overlook LinkedIn and other social media platforms. Because millennials will make up a large portion of the consumer market, you should go where they normally hang out. It's no secret that LinkedIn has recently become a big content engine, particularly among young professionals. SnapChat, Instagram, and Slack are all viable options for promoting your company in novel and innovative ways. While Twitter is still viable for some organisations, LinkedIn should be a standard advertising platform, particularly for B2B companies.
Hire or collaborate with UX professionals and digital content experts. Because of the technological advancements in both hardware and software, businesses now have the potential to express their stories in novel ways. You may present audiences with creative, immersive, and captivating user experiences by combining art and technology. New combinations and forms of rich visuals, movies, and sound can add the proper charm to your message, keeping customers captivated and prepared to buy.
Use well-known varieties regarding human behaviour. People often dislike being compelled to watch advertisements. Ad-blocking software is used by at least 200 million users. This necessitates the development of new forms of advertising that go beyond being discreet to be relevant and meaningful. When you consider that you only have 37 seconds before customers' ever-shrinking attention spans move from one message to another, you can see how important behavioural economics is in digital advertising. To go ahead, use old advertising techniques that appeal to human emotions, or collaborate with creative ad businesses like GameWheel and GumGum that offer new methods to convey your message.
Ensure your content is adaptive for millennials. Millennials may not represent your ideal customer profile (for example, you sell travel packages for retirees). In other words, knowing their shared interests, views, and online behaviour can help you tailor your advertising and make more meaningful connections. For example, many millennials (but not all) tend to prioritise experiences over material things, leaving traditional milestones like marriage, home ownership, parenting, and car ownership on the back burner. Luckily, most people can test his short attention spans online 24/7 with sites like SnapChat and Instagram.
Associate with influencers. Luminaries with strong social capital hold great influence over those who follow their social media accounts in the age of virtual connections. Advertisers have long been aware of this new cultural phenomenon and have capitalised on its potential benefits for their businesses. Always ask influencers to convey your story if it does not contradict your branding principles. If you don't, your competitors will.
Welcome technology. Technology, due to its disruptive nature, consistently serves the same commercial role: game changer and competitive advantage. Businesses that embrace technology are often at the forefront of their industries. Emerging technology can always find a use case in digital advertising. Improve your ad campaigns with interactive content, video streaming, AI-powered chatbots, and machine learning-enhanced data analytics.
Learn to adapt, digital advertising is changing.
Experts predict that the world of advertising is moving inexorably to digital and that more and more companies are investing in expanding their online presence.
But it's not just about throwing money at the online campaigns you've been familiar with for years. It also addresses strategies, focus, and reorganisation to respond to rapid advances in technology and dramatic shifts in consumer behaviour. DigitalXMarketing can help you in the fast-paced changing world of digital marketing by employing top talents and with a proven track record, we are focused to help bring your business to success.
DigitalxMarketing Ltd has its head office in Wellington NZ with its support and resource centre based in the Philippines. DigitalxMarketing implements the latest digital strategies, tactics, tools, platforms and technologies to deliver integrated digital marketing services so your digital footprint can be found online.