Lisa Colantuono, Co-President, AAR Partners
1. What could/should advertising look like in 2020?
Zero TVers have increased from 2 million in 2007 to 5 million in 2013 and it’s vital to understand why they’re on the rise. They are taking action against the statement most consumers exclaim, “I don’t want someone else dictating the media I get every day. I want to be in charge of what I see and when I see it.” Bottom line, consumers want to feel more in control – a basic human desire – and have a meaningful relationship with the brand. Therefore, by 2020 advertising should be an invitation to people (not ads “targeted at consumers”) who want to experience the message as well as the brand in their own way and in their own time. And that message must be relevant on consumers’ most important device… their smart phone which will be the remote control to life and as a result, the new neighborhood will be the Cyberhood. Therefore, prepared advertising campaigns as a one-way form of communications should be banished. Advertisers should create connections that count based on real-time, “tradigital,” relevant, data-driven, human-centric, agile communications. There must be a purpose behind the brand that shares values with the consumer. The key will be interpreting the right data that reveals current consumer ideals and real-time behavioral insights. We must understand that combination of behavioral characteristics and data science. Understanding these insights will help create advocates who want to amplify the brand based on their authentic, meaningful experiences. AOR’s (agency of records) will need to become TOR’s (team of records) whose best interest is creating relevant brand relationships with the right people at the right time. Advertising should not only promote consumer-generated content/conversation, but also help them magnify their relationship with the brand. This uninterrupted engagement will be the priceless value of an earned impression.
2. What should we do now to get ready for that future?
The industry must start to understand consumer behavior(s) in-depth and the rationale behind certain behavior(s). One way is to intimately follow social media and real-time digital news. Another is to incorporate a better grasp of neuro-marketing in order to have a deeper understanding of the customer decision-making journey. Real-time, meaningful consumer conversations must be encouraged, assessed and findings from listening must be implemented. The next few years should be spent recalibrating the relationship between marketing and IT. More cross-disciplinary team of marketing and IT experts and maybe new CMO (chief metrics officers) must develop.