What is the future of advertising ?
Updated: Aug 19, 2020
Ever imagined refrigerator showing ads of food and washing machine having ads about washing powders?
Technology can make anything happen!
The implementation of technology in the next decade will revolutionize advertising in multiple ways. Ads will be customized and much more consumer-centric.
The speculations of writers replaced by the bot are certainly horrifying! Hahaha
Let's explore how technology will affect different dimensions of advertising!
Content is the king in the present scenario. But, how long will content writers remain relevant?
Do you also believe that Bots can overtake the human mind and creativity?
The possibility cannot be dissolved. However, the fact remains that advertising and online space will need content writers to program Bots. Nobody can deny that it's humans who created technology, so it's impossible to eradicate the human touch to make technology functional.
The smaller tasks might employ bots, but at grand levels, the plot needs a creative mind to prepare the script.
The implementation of GDPR (General data protection regulation) has empowered internet users by allowing them to opt-out of the data collection process. Unlike before, when companies were allowed to monitor each reckless information about the user without any filter.
A similar approach will continue in the next decade to make user's data much more safe and secure. Advertisers will need to establish strict guidelines about the data they will access. Data will be the new economy. The legal boundaries shall expand in online space and keep each company under strict monitoring.
Data collection and analysis
As we move ahead, the patterns of data collection will also evolve. Marketers will try to capture maximum information to track customer behavior. The calculation of click-through rates and SERP will become an age-old tradition. The data will be behavioral and emotional. The process has already started in several forms:
At the airports and smart security systems use facial recognition, retinal recognition, and fingerprints.
The smart, funky AR/VR eyeglasses and various similar gadgets gather data while you watch or interact with the device.
Smart speakers like "Alexa" or "Siri" collect voices as data.
All such forms will be utilized for collecting user interaction in the future. It will lead to changes in patterns of advertising.
Artificial intelligence is a boon for businesses. They can capture everything by training the data collection strategy. However, the users who innocently opt-out of the data storage might be at risk. If the AI-enabled system is trained or programmed using the information, then merely opting out or deleting the source might not help. Thus, the company unknowingly or unintentionally utilizes the data which might have legal consequences.
Earlier prominent firms or technology geeks wanted their data to be secured, but digital expanding into people's private lives has even made matrimonial and dating websites data scary!
Emerging marketing Channels and 5G
IoT and ML will make everything smart from coolers, refrigerators, toys, televisions to personal appliances. It's even possible you will have complete communication with devices around you. 5G will surely bring a lot to the table.
Advertisers must gear up to modify content and upgrade creativity to make brands relevant to every new emerging channel.