TV advertising is a weakening force in the modern world; it’s still effective and it’s still going, but it’s not what it was. What’s more, the entire industrial advertising complex is being shaken up to the point where it is barely recognizable. The old certainty was that the biggest player spent the most on media, would therefore get biggest market share, and would dictate the playbook of all other brands. This is what kept the likes of Procter & Gamble and Unilever at the front of the supermarket line for over 50 years. TV is not dead yet, indeed brands that tried ditching it have found this to their cost (a 5 per cent decline in sales wasn’t what Pepsi was hoping for when it went digital only), but the model is changing beyond recognition.
Being a brand that comes to mind both quickly and fluently to customers is what matters, and a massive TV spend alone is no longer the best way to achieve this. The market share of brands that have been safe for a generation is being chewed away by upstarts with online digital budgets and a hot product to talk about. The brands on the best growth curve are nimble, responsive to consumers and backed by a highly targeted online and social ad focus.
It doesn’t take an expert to point to the fact that social media and the internet have changed the landscape forever. And into this tumultuous world comes online video, something with the power to emotionally connect just like TV ads, but backed by highly targetable technology with data analytics and interactivity. It’s held in the hands of 1.3 billion people and backed by the giants of Facebook and Google. So the rewards are there for brands nimble enough to break the shackles of old models. Now, having the biggest spend will certainly ensure success but won’t guarantee continual category dominance. The democratization of the internet means the door is open for smaller brands as well as big ones.
There is simply too much content reaching our target consumers. Around us is a gloopy mix of words and pictures that sparkles at our attention like a mirror in the sunshine. Some is sticky, some tasteless and some instantly forgettable, but it is all content vying for attention. Brands trying to grow share, increase audience engagement or even just maintain relevance are competing in a world of infobesity.
How do brands cut through this content soup to deliver effective campaigns that have solid ROI? For brand managers and owners looking to stand out, there needs to be a number of clear strategies, from developing nimble products that hit the market’s zeitgeist, to fast feedback of reviews and more. With the moving image increasingly at the heart of the world’s biggest social media platforms, brand managers and agency teams alike are looking for the key insights that will help them unlock the potential of video.