How would you evolve the state of advertising to be successful in the year 2020?
This was one of the questions asked in the application for Miami Ad School. Here’s my response:
I believe that the state of advertising will not inherently change. The process in which ads are made will remain the same and how the ads are distributed, through the known formats such as outdoor, television, radio, will equally remain unchanged. However, where I think advertising should really evolve lies in the delivery of the ad.
With the exponential growth of technology there has been increased data collection on consumers, for example, tracking viewing habits or pulling Google search data for Facebook advertising. I believe that the state of advertising will primarily evolve around this factor, where advertisers will have the opportunity to create more relevant ads and content for customers who will receive more highly tailored ads in real-time.
Due to the information-rich culture that we now live in, consumers expect brands to know more about them and be smarter when trying to target them. I believe that advertisers will slowly move away from bombarding consumers with products they do not need and will instead serve the consumer with the information they need to make smarter and more cost-efficient purchases on products they actually want.
The more detailed the information collected on someone, the more efficient ads can be when targeting a select group of people - or individuals by the year 2020. With increased efficiency, advertisers will be able to spend more time personalizing ads for the individual, creating more of a transparent, two-way dialogue between the brand and the consumer. The ability to talk one-to-one with a brand will become a norm, and by 2020, two people watching the same channel will not see the same ad when it comes to the commercial break, even if they are neighbors.
Currently, marketers are striving to solve how advertising can become successful on mobile. By 2020, I believe that mobile will be the major influencer in consumer spending. On-the-go mobile advertising will be able to influence purchasing decisions in specific locations when a consumer is near his or her favorite store.
With the continued evolution of mobile, Google Glasses may even play a considerable role. Enhanced mobile solutions and more effective data collection could culminate in augmented reality billboards, where the billboard is uniquely tailored to each individual walking by. Imagine if Nike had a branded augmented reality board with their logo in the middle. Surrounding the logo would feature items tailored to your workout habits, what you have recently searched for on their website, a small television spot, or even remind you how many fuel points you have without having to check your FuelBand, or FuelWatch?
What I believe to be key in the evolution of advertising is relevancy. Currently, the most influential person when it comes to purchasing decisions are your friends. I can imagine a day when brands have such a close dialogue with their customers that the same amount of trust can be given to them.