Shifting Advertising Landscape Pushes Marketers to New Platforms
As marketers and advertisers, we are always trying to find new ways to satisfy consumer demands with content that is relevant, engaging and delivers our desired message. The dawn of the internet and social media has given us access to consumers in a way completely unheard of only a few decades ago. Digital and social media advertising seem to be in their heyday, but aren’t we always looking for the next best thing? There are a few platforms emerging as potential giants for our industry if harnessed correctly.
According to Forbes, one of the biggest potentials is Virtual Reality (VR) headsets. It was almost a year ago when Google first debuted its VR advertising project and Apple has been quick to follow. Many start-up companies are incorporating open-source and community created content in the VR apps they are developing, which is quickly growing the virtual reality user base and potential audience. Augmented reality is a similar new comer with companies like IKEA using it to show customers how their products would look right in their own homes. Advertisers are quickly finding ways to use both AR and VR to more directly engage consumers while giving them an advertising experience that does not feel like an ad.
Native advertising has also seen huge growth with Business Insider predicting that native display ad revenue will hit 74% or total US display ad revenue by 2021. The power of social media to spread native advertising is surging in ways most could have never predicted. As this kind of advertising appears more and more authentic, consumer loyalty and confidence will grow spreading them even further. This is not a surprise given the increasing use of user generated content. Both user generated content and native advertising focus on building an experience rather than pushing a message. When leveraged together consumers are not only more open to the content, they feel like they are a part of a greater community and their input is valued.
Another unlikely contender is video game console. According to Forbes, digital ad spending on Xbox and Nintendo platforms reached nearly $2.2 billion and are projected to hit $5 billion by 2020. Advertising in this way allows for users to interact and receive direct rewards for viewing content by way of in-game credits or bonuses. Many marketers are also strengthening their cross-platform promotions by incorporating mobile devices and apps into console gameplay, allowing players to take their game, and advertiser’s message, anywhere they go. Tapping into this market could provide reach and frequency rates that are through the roof.