Editor’s Note: At LI we are inviting some of the best digital marketing minds of the country to share their opinion on how the market and the different facets will evolve or fail to attract in 2016. This is the fourth in the series by S Yesudas, Managing Director and Co Founder, triggerbridge, the unagency. You can connect with him on Twitter – @s_yesudas
(Click here to find the entire coverage of this series)
During the time when I launched one of the country’s first digital specialists under the Lintas/Initiative Media banner, Digital Initiatives, 16 years ago, most discussions on digital largely ended with website creation. In my article in the then famous A&M magazine in 2000, titled “New Paradigms”, I had spoken about how digital will revolutionize advertising. And I believe we are on the threshold of that.
I’ve been a firm believer of what Mr Uday Kotak said in his last interview to Economic Times, the other day – many companies will have existential issues in the next 5 years. Businesses are/will be challenged to break open and move into the digital world without boundaries. Consequently marketers will take a hard look at the transactional relationship between themselves and their advertising agencies.
In my opinion, the biggest disruption waiting to happen in the advertising business will have digital at the forefront. The current ad agency models will break. Digital will become the glue that will hold all the brand actions together. We are steadily moving ahead to a 4 billion dollar digital advertising market within the next 4 years, with around 250 million people buying online, an extremely good place to be in. Service providers with the ability to arrest the fragmentation of ‘digital’ and stitch together solutions for clients, will be able to enjoy bigger and bigger pies of the business.
As transactional advertising diminishes in its value proposition, the silo’ed walls of digital with super specialists in display, search, social and these further fragmented as paid and unpaid and the brand new programmatic will have to all learn to work together to create holistic solutions for brands. This will not only apply to digital but also for all touch points.
I’m seeing the following scenarios emerge sooner than later:
1. Integrated solutions are presented to clients without silos, egos and profitability norms, based on the brand needs.
2. Some of these solutions will not only revolve around advertising, but will also be with the view to getting the client fully digital ready.
3. Marketers will see digital helping them drive their businesses in many ways, impact-fully.
4. Marketers will clearly understand the difference between process automation and digital transformation.
5. Marketers will let their brands become the tissue between consumers and technology. This means, meaningful brands will make many provisions for consumers and those brands will get into the middle of consumer conversations.
6. Technology will solve many marketing challenges, including physical stores staying open 24×7 or 1000 sq ft showrooms turning into 10,000 sq ft.
7. With all the discussion on big data, analytics and data scientists, there remains a huge amount of untouched data which many brands can use to make deeper consumer connections, with story telling potential, basis some very basic analysis. Simple technology will make way for this.
8. There will be robust ‘content’ strategies and not just mindless videos.
9. Some of the actions by marketers, using digital, can mean potential monetization opportunities for them. The agency partners will facilitate these.
10. There will be far better and more robust research data on digital to highlight the audience behavior and this will sit together with many other touch points including traditional.
triggerbridge, the unagency, as we spoke last (How This ‘Unagency’ Plans To Disrupt The Broken Advertising Agency Model), is on the path to disrupt the advertising business. We have already embarked on all of the above and more.