In a world that is constantly changing with people who are diversified and evolving, ways and means to influence them to keep adapting over time. Advertising being one of the ways to reach and influence people has been constantly growing. The history rolls from advertising at the centre square of a town calling attention through drum beats, to newspaper advertisements, which later evolved to the radio, then television, and more recently SEO, digital, social media to AI based advertising. The changes in recent times have been incredibly fast-paced, and highly overlapping. There is an ever-evolving need to keep up.
Now we have big data to give deep insights into consumer behaviour. There is enough and more information about consumer behaviour on a personal level. Rather than demographic segregation, which was prevalent before, now a well-targeted advertisement would convert, most of the times. Thanks for understanding the impulsive buying pattern, and insight into the want and needs of the individual.
With the turning tides, there is still a long way to go in understanding the individual preferences. All of us endure days if not weeks of badgering advertisements of a book that we had clicked at a retail site. This has been a huge concern for advertisers, where AI looks at stand-alone points for targeting the wrong user. These interactions brought to us the world of personalization.
Social Media has revolutionised the whole of advertising which needs to introduction. However, with the ever-changing algorithms, the era of over-sharing, over-consuming is now seeing its dusk. A need to question the KPI, the trueness of the metrics, the overloaded influencers and community is now being questioned. The corrupt internet is showing its ugly face. At the wake of Lush which quit the social media makes many brands sit up and look ahead.
While this does put a damper, especially on the current day social media fancy, this shows a great possibility of change. With the advent of voice and smart homes comes with an exclusive means of advertising. Just as trends helped us adapt to native advertising, now brands are looking at a changing content to adapt to voice technology. Even while Alexa has a no voice advertisement policy, brands are now adapting to a more question and answer model which would serve the purpose. A brand that has a recipe in voice would take over when such a query comes. These are by and large speculations on the way ahead.
However, advertisers need to be on a constant lookout for alternative mediums to advertise and capture the market early, especially at this time when everything is fast-paced.