A New Era in Advertising

After years of dire predictions concerning the end of the advertising industry as we know (knew) it, it has finally happened. But not quite the way nay-sayers expected. The world of advertising has changed, and dramatically, over just the past few years.

What is often not considered is that advertising is really just the strategy employed to bring products and services to consumers. Consumers have not stopped buying products, they just buy them from different sources and rely on different media.

Consider the following recent changes in advertising:

* Magazines are losing advertising revenue to the web

* Television networks are being replaced by the popular and growing video-on-demand industry, Internet TV, and video downloads

* Radio stations are losing listens, personalities, and advertising revenue

* Broadcasting advertising revenue declined in 2004, 2005, 2006, and 2007

Clearly advertising has entered a new era. The future of advertising is being shaped today.

There is an Arabic curse that says "may you live in exciting times." Certainly, in the world of advertising these are exciting times. For advertisers capable of evolving and flexibility the potential to succeed is tremendous.

Marketing is becoming more consumer-focused.

* New types of advertising formats are being explored; new strategies tried

From consumer created content and social networking to customized television commercials, new strategies and forms of advertising are emerging. Projects once considered risky are now cutting edge.

* Marketing is moving away from the television

Big companies like BMW and Pepsi are starting to ignore advertising on television to focus instead upon digital media outlets.

* Advertising budgets are moving on-line.

Every year the percentage of advertising budgets devoted to digital media grows. Advertising is moving to the digital arena.

* Consumers demand relevant advertising

More and more consumers are using products like TIVo block commercials. Yet studies show that more than half of Americans would actually pay to have their commercials tailored to their individual needs and preferences. Advertisers like Google are listening and creating systems to target advertisements.

And then there is ITV.

Interactive television allows consumers to interact with the programing, and the advertisements. Clients can instantly take advantage of special offers, accept coupons, even purchase merchandise, all while watching their favorite program.

Imagine watching your favorite game show and being able to play right along on your TV. Actually interacting with the program. Then the contestants prize, a brand new car! And the option for you to view consumer reports on the vehicle and dealers where to purchase one appear on your screen. You click on this link and begin shopping for your own new car.

Advertising in today's market is in a state of dynamic change. The future is on its way with a new focus on digital media and interactive television. Advertisers that are able to adapt to this new market will profit while those that are unable to adapt will fade. The future is finally here, adapt to it.

Learn more about this author, Daniel Xiao Wang.
Click here to send author comments or questions.

---

Add your voice

Know something about The future of advertising?
We want to hear your view. Write now!