Advertising is still all about the â€˜ifs and buts of a productâ€™, presented in a glowing rainbow like picture trying to attract consumersâ€¦.but what is the future of advertising in coming years ?
Lets go way back when the idea of advertising a product was regarded as some kind of a big deal. Then the advertisements were very limited, and it took lots and lots of efforts to make a single advertisement. And the customers then, had no option other than watching those advertisements. Now, time has changed. Since last 20 years or lets just consider last 10 years, there has been a dramatic change in the world of advertisement. And this will not have a stopage in coming years. The change doesnâ€™t mean that the advertising agencies will all be shut down and firms will take over. It just means that the existing advertising agencies will have to experience a change in the industry and within. They will be redefined and reinvented so that they can survive in the years ahead. The agencies which gave their number of years to this industry will also change for good, be capable to cope up with new challenges, new competition and new attitudes of the consumers. Once a article was written on change in advertising in 1992 and the title then also suits now, it said - Advertising Age : Change or Die and very well said. To understand what is going to change and what will remain the same should be on the top of the list of the advertisers.
Now is the beginning of the digital era. The agencies had a system of having some few creative people who used to come with ideas for ads. That was the time when giving an ad in radio and television was very expensive. But now no one minds actually about the cost for such ads because consumers are responding well. But now and onwards, internet and technology has taken a front seat. Lets talk about the mass media. Today every tv serial, all movies running in theatres and all breaks in the radio channels have fillers called ads. But in the coming years, the ads can be shown to the consumers only if they want to see and not because the advertiser want them to see it. The cost of using internet and digital gadgets is everyday dropping down so the customers donâ€™t mind spending on these things other that fooling themselves with the colorful advertisements. The future will be in favour of the advertisers and advertisements but only at the cost of proper management and proper use of digital technologies and internet.
Nowdays, no one trusts the ad industry because there is no transparency. The ethics are not being the part of ads anymore. In coming years, the bond of trust has to be again rebuilt between the consumers and the advertisers. The advertisers will have to work hard to gain the confidence of the customers.
The creative people of the agencies should not limit their creativity by only working with the old style menu. This is the time to explore with help of internet and digital tools.
The advertisers should launch a product which will be completely different but excellent to use. Then only the voice will be heard.
More and more quality people should be hired today who will be leaders for tomorrow. They will be the people who will lead the industry in the future with the best quality being coping up will everything. Better HR practices should also be appointed.
These are some points which may help advertisers to survive and survive in a better way in the future. The people who will not change can just not stay in this new industry.