What will the media and marketing look like in five years? 10 years? 20? The worlds of media and marketing are changing at such a rapid pace, making it next to impossible to future gaze, but if you take a look at the current climate, a few trends are noticeable:
1. Robots will rule the world
Programmatic buying is nothing new, but I expect that in the next decade this will become the primary channel for all media transactions, beyond display advertising and right into TV, the heartland of brand ads. We’re already seeing programmatic spread into multiple channels, but expect increased competition in this space, as premium players gradually get involved.
The only agencies which will survive in this landscape are those that invest heavily in technology, and those who invest in efficiency. This will likely lead to a reconfiguration of agency staff, away from administrators and towards creative storytellers who combine technological prowess with imagination.
2. Advertising, what advertising?
It’s highly doubtful that traditional advertising will disappear altogether. Having said that, is it really so far fetched to imagine a future brands engage most heavily through content? Non-intrusive, engaging, entertaining content. Look at brands like Red Bull, who own the content marketing and PR space – they are creating compelling stories which people want to consume.
Unique, likeable, captivating stories will always attract an audience, and in a future where consumers will be increasingly spoiled for choice, a good yarn will be key. Brands who only invest in traditional marketing instead of directing funds into social and content marketing will be left in the dust.
3. Talk to me, and only to me
We are moving into a world of hyper-targeting and one-to-one communications. Those who invest in truly understanding consumer behavior and psychology will overshadow brands that employ simple outdated messaging tactics; those who target individual consumers with relevant messaging and adapted creative will emerge the winners.
I expect we will see more technological advancements along the lines of iBeacon, a geo-targeting tool which pings messages to consumers’ mobiles based on their location; and more personal service advertising technologies along the lines of Siri, but infinitely more complex and personalised. Have you seen Minority Report – well, imagine digital outdoor ads which target individuals based on their personal details and purchase history. Of course, the increased growth of mobile marketing will only accelerate this process.
4. Self service and immediate gratification
Self service is nothing new, but I expect the future will see less human interaction at the point of sale. The explosion in online sales is proof. People want to be able to buy from the comfort of their own home, and they want instant gratification. The huge success of the Domino’s Pizza Tracker, or the runaway train that is Uber, are good examples of this trend.
This means that bricks and mortar retail spaces will need to rethink their place in the world. Physical spaces will become less about sales volume, and more like experience hubs – spaces where a consumer try out an item, scan the product with their smartphone and have the goods delivered directly to their front door.
5. Fluid working spaces
The boundaries that define agency verticals will become non-existent. Already, as media fragments and skillsets become more specialised, clients are clamouring to have multiple services under the one roof. Just look at my agency Atomic 212°, we define ourselves as a full service media agency, but we are also a production house, a content marketing company, a PR agency, and more.
The way we define ourselves is constantly evolving. But fast forward a few years and this space will be more fluid still. You might find many agencies moving away from large, cumbersome models, and towards flexible arrangements with fewer full time staff and huge databases of contractors and business partners who work from home, work in different time-zones or work across multiple agencies. The future will be an outsourced future – I foresee a centralised, full service agency model with a lean structure and a host of intersecting, outsourced resources.
Of course, the more things change, the more they stay the same. Regardless of how much media and marketing evolve, the end goal will still be the same: connect consumers with brands through storytelling. That much has been true since the beginning of media, and will continue.
By Atomic 212° chief executive Jason Dooris