Every brand tends to tackle their marketing strategy at the beginning of each year by deciding where they are allocating their budget. Inevitably this exercise covers how much you should be spending percentage-wise and in which platforms we should be using. Well for every industry the percentage on what their budget should be it’s not fixed.
Rule of thumb the minimum a company should be spending would be 10% of their yearly revenue on branding awareness campaigns. This excludes the launch of a new product or service. It’s purely on telling your customer you are here and you can solve their problem!
Worldwide, the advertising industry is booming, with a 5% a year growth, valued around £455bn and undergoing through a rapid transformation. TV ads continue to rule the roost with over 40% share, digital ads - mobile or desktop - are taking the centre stage and are growing at a very rapid pace. Budget allocation for online ads is increasing at the expense of TV and print media. While the budget for TV ads is expected to shrink by 3% each year until 2020, print ad revenue is on a steep decline. Worldwide, print ads declined 5.2% in 2014 from a year earlier and are down over 17.5% over the last five years.
Here’s a list of some trends that we think you should be betting on.
Encouraging your audience to share the experiences that they had with your brand is a very effective way to collect valuable insight regarding the brand experience as a whole whilst boosting the relationship with the customer. The less friction there is to engagement, the more connected people feel. Brands that are more willingly to connect and interact with their customer audience, will have a stronger impact.
This year will be all about the integration of the three major platforms. Many brands normally are doing one to two of them but the true success of the campaigns rely on making a fully integrated marketing strategy program that incorporates all three. This will eliminate redundancies and increase efficiency.
We are all watching the rise of artificial intelligence (AI) in marketing and how it affects clients’ relationships with consumers. As a company that focuses on bringing out emotional connections through physical environments, we’ll see AI play an even bigger role for brands as they look to personalise and automate more digital and traditional communications.
Sharing solutions-oriented content for your audience from your industry is always beneficial as it drives organic interest as well as spreads the core values of your company. Translating this to your influencers, it adds intrinsic value as it is more likely for them to share and spread this content.
The technologies advances are currently over-saturating the market with off-the-shelf products that bring no real human connection giving only faceless data and no real insight about their experience. We foresee that this year, brands will be reaching out to with a strategic empathy map that connects and reaches audiences to a human level.