Predictions in Digital Advertising
I think that the future of marketing is likely going to be mobile device based. By the year 2024, mobile marketing is projected to reach 460 billion USD in revenue worldwide. It’s reported that currently 55% of advertising is performed on mobile platforms but by the year 2024 it will be closer to 62%1. Millennials and generation-zers are glued to their phones and devices while being raised in the era of technology and the boom of advertising. Millennials or and Generation-Z will make up nearly 62 percent of the workforce by 2025 ranging from age 20-492. This means that they hold 62 percent hold the buying power for the entire country.
Another prediction would be that consumers want to trust brands they have similar stances on. According to one study, 64% of consumers are “belief-driven buyers” that want brands to be accountable with society3. The year of 2020 has been a whacky one and I can name several brands off the top of my head (but won’t) that took part in one of the many movements and societal movements. While it is hard to determine if the brand is sincere or if it for a leverage, it almost benefits both sides.
Finally, I think that we will see a rise in influencer marketing before it fades away. Influencer marketing is where social media personalities and regular celebrities alike promote something, anything. Influencer marketing is great in niche markets like athletes promoting protein bars or beauty influencers promoting cosmetics. The reason, in my opinion, being that people want to be their favorite celebs so if a celeb says go buy this it makes me look like this, there are many that truly believe that. This is dangerous and has the potential open legal issues with intentional or unintentional false advertising. 77% of generation z-ers like ads that show “real people”, as they want to see themselves in the scenario3.
- (July 2020). Digital Advertising Report. Statista.com. https://www-statista-com.ezproxy.snhu.edu/study/42540/digital-advertising-report/.
- Lettink, Anita. (September 17, 2019. No, Millennials will not be 75% of the workforce. LinkedIn.com. linkedin.com/pulse/millennials-75-workforce-2025-ever-anita-lettink#:~:text=If%20we%20ignore%20the%20Pew,will%20be%2074%2C7%25.
- (September 30, 2019). Smartinsights. Consumers are increasingly trusting brands that take a stance. smartinsights.com/online-brand-strategy/consumers-are-increasingly-trusting-brands-that-take-a-stance/
- 2020 Influencer Marketing Trends.PopularPays. https://popularpays.com/blog/2020-influencer-marketing-trends/