Difference between revisions of "Future of Advertising in 2020"

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Interviewee: Professor Annet Aris, Adjunct Professor of Strategy, INSEAD
Interviewee: Professor Annet Aris, Adjunct Professor of Strategy, INSEAD
Q: Is there any merit in peer to peer advertising? <br>
A:  Yes. Marketers will strive to identify people who are influencers and establish relationships. These influencers will then convince consumers that certain products are the best.
Just as there are endorsement by celebrities, endorsement by reputed influencers will be on the rise.<br>
Q: What are the risks in peer to peer advertising? <br>
A: Consumer data will be exposed over the internet so in  a way each individual consumer’s data will be available for advertisers but given the popularity of sites such as Facebook, data will be hidden in the huge mass of information that millions of individual consumers upload such as photos and scraps. So in a way, individual data will be less important too.<br>
Also, downside risk for advertisers is very enormous on the digital media. So adv agencies are worried and careful about contents on sites such as YouTube.  In traditional advertising media, such as television, agencies have control as to which time slots to target or avoid and which channels should air particular advertisements but in digital advertisement this is difficult to control.<br>
Q: What will the unfolding of the peer to peer advertising lead to? <br>
A: It will result in more information driven advertisement.
Consumers will have much better information – so advertising will solely focus on data. Advertising will be less about telling beautiful story and more about quality improvements.
People will stick even more to brands as world is getting too fragmented – too confusing. So consumers will find solace in brands. <br>
Q: What is the privacy issue plays its role in future targeting advertising?<br>
A: There are three key points:
1. How much benefit people can have. If the convenience is there and do help people, people will be very likely to accept it.
2. The device (platform) for targeting advertising is very important issue. More private device is better for targeting advertising. Let us say, for example: if you get some specific and personal information, such as body hair removal wax ad shown in the PC which is used by family, it not likely to be popular. But it is shown in your mobile, it is perfect fine and helpful.
3. People do feel ok if their data processed by machine, such as google engine process your search behavior and push some advertising.  People don’t like their information was used by people. <br>
Q: Do you see a future in which consumers are actively asking for data privacy? <br>
A: Yes. The signs are evident even today.
There is already a law in Netherlands whereby spamming is prohibited. An agreement from consumers will be needed in order to target them with ads.
Dutch post boxes have ‘No No ‘and ‘No yes’ stickers. Consumers have a choice of using either of them. ‘No No’ stickers mean that the consumer shall receive no advertising in their mails and no free newspaper. ‘No yes’ stickers mean that the consumer shall receive no advertising in their mails but shall receive free newspaper.
There is already a ‘Do not disturb’ call list for tele-marketers.
Video on Demand (VOD) plays free videos with advertisements. At the same time consumers can pay for watching these videos but without advertising.
In the near future, there will be regulations in place and people will be educated as to how cookies help a website to remember you but at the same time it relays your information. Consumers will demand a choice in controlling this. This will result in web sites having easier mechanism of conveying privacy information to consumers. Hence consumers will be able to make a more conscious trade - off.<br>

Revision as of 11:30, 17 October 2009

Group

Daniela Cateriano
Kensuke Murai
Justin Block
Maggie Zhu
Vinod Nair

Introduction

Advertising in leaders' eyes

I define it as a conversation starter. Interruption doesn’t cut it anymore. In the opt-in world, you either get people talking, to each other or to themselves, or nothing happens.” —Marshall Ross, CCO, Cramer-Krasselt

The definition of advertising has not changed. It still comes down to telling a story about a brand, it’s still about creating ideas that people respond to. But the consumer has changed. They have the power to avoid marketing, and they know it. Brands have to work a lot harder. More than ever, brands have to offer something of value – something truly entertaining, or surprising, thought-provoking or useful. They have to be more generous.” —Albert Kelly, ECD, Fallon

Advertising going forward is about turning big ideas into personal experiences that change/ reinforce both perceptions and behavior.” —Jan Leth, Vice Chairman/Global Digital Creative, Ogilvy & Mather

“First there was a shift away from advertising towards talking about ‘content’ – brand content so good people want to engage with, make their own, share with others, maybe even pay for. And at the time, that felt like a new, fresh definition for what we do – but it’s still fundamentally about making stuff. It’s describing the same old production mentality in a new way, and expanding the palette a bit. Now I prefer to define advertising more simply—just as ‘ideas.’ The currency of our business is, and always has been, great ideas. The strength of our thinking. But now the definition of those ideas is so much broader – and holds more opportunity for agencies than ever before. ‘Ideas’ goes beyond making creative deliverables A, B, C & D to being go-to business counsel to clients at the highest levels. Getting knee-deep in every facet of their business. Bringing ideas for new products and services, opening new selling channels, industrial design and packaging; agencies creating their own products/brands, or taking a financial stake in others. The possibilities for this industry are limitless if we stop focusing on making ads – and get ninja-like at bringing big, bold, game-changing business ideas to our clients at such a relentless pace, they might just cry uncle.” —Jeff Graham, Account Director, Crispin Porter + Bogusky

“Make the truth appealing. You just have more ways to do it now. I still think it’s about finding a big idea based on a fundamental truth about a brand that’s meaningful to the target audience, and expressing it appropriately across multiple platforms.” —Woody Kay, Managing Partner, Chief Creative Officer, Arnold

“An encounter (that includes messages, experiences, etc.) created by a brand in order to generate awareness or build preference.”™ That’s the fundamental purpose. May include experiences, a means of stimulating dialog and social media, an invitation to create user generated content. May appear on TV, the web, mobile or embedded in a blood transfusion (coming soon). But the initiation still is created or stimulated or inspired by the brand advertiser and exists to generate awareness and preference. The purpose and objective have not changed. Just the technology, channels of distribution, options for content and the role of the consumer.” —Edward Boches, CCO, Mullen
“Advertising has not changed since the dawn of time, only the media. I’m sure someone must have written ‘Buy this fine reed basket.’ on a clay tablet.” —Mark Johnson, Chief Innovation Officer Persuasion Arts & Sciences
“Story telling is king. Problem is we sit around like a bunch of dorks talking about which theatre this story is playing in. How many seats. How big the screen is. Whether someone will copy the links and send it to their friends. The Internet is a venue. Not a fucking message. If you can’t express yourself, all you’ve got is a failure of imagination.” —Bill Heater

Research questions

  1. Current State of Advertising
  2. Big players
  3. Demographics
  4. History of the industry
  5. Current trends
  6. What is the future of the print media?
  7. What are the innovations taking place for book substitutes?
  8. What is the projected trend for popularity of live events?
  9. How easily will be product information be accessible to consumers?
  10. Consumers: Will the definition change?
  11. What is internet privacy?
  12. what is current privacy issue?
  13. What is behavior advertising?

Driving Forces

Technological Driving Force

Political Driving Force

Societal Driving Force

Economical Driving Force

Enviornmental Force

Scenarios

[[]]
Scenario 1: Hyper Personalized age


Scenario 2: Peer to peer review age


Scenario 3: Consumer Privacy takes over the Ad world

System Diagram

Systemdiagram1.png

Interview

Interviewee: Professor Annet Aris, Adjunct Professor of Strategy, INSEAD

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