A lot has changed given the current circumstances but it seems many of these shifts have favored the digital world. The question we face now is what will last?
1) Investment in Dynamic Creative Technology Platforms
This dynamic technology allows different users to see versions of ads that are unique to them. I think this will continue to grow as more and more companies employ AI technology and will require less manual effort and time. Users will constantly be reminded of the products they just viewed and be more likely to make that purchase.
2) Accelerated Shift of CPG Brands to E-Commerce
DTC is on the rise for CPG even among the older and less technologically inclined cohorts and the ease of the experience will encourage repeat use of these platforms and online purchase in general. We’ve already seen this flow through to media buying in shifts in spend and focus to digitally enabled marketing platforms.
3) An Exponential Increase in Digital Sales for Some Industries
Consumer daily behavior has changed in this time of COVID and their online purchases have reflected this new normal. It will be interesting to see if consumers continue to spend more on healthcare, food delivery or DIY home goods (and do so online) as we move farther away from this pandemic lifestyle.
4) Increased Investment in Attribution-Based Marketing
Attribution-based marketing has been on the works for a while and is especially important now when companies are forced to think more critically about how they are spending their marketing dollars. With many companies moving to more frequent budget updates (from yearly to quarterly forecasting) they are looking to data to inform and facilitate these quick decisions.
Takeaways
I think these are all great candidates for lasting impact because many of them are automated, data infused, or dynamic versions of what we were already doing successfully. The questions that rise in my mind are: Will the consumer see through or be bothered by the dynamic ads that know too much about them? Will automation leave room for creativity or might it actually free up time and energy to foster creativity? Will our reliance on digital and shift in marketing spend miss a whole group of consumers who are not engaging in this way? Will this approach appear inauthentic for certain brands and what choice will they make? I’m curious to see how the world of digital continues to evolve.
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