Nowhere are the challenges of media more evident than in the shift in how people interact with media today, and in the rapid adoption of mobile advertising. Both are providing audiences with more and better access and control options. It’s the age of consumers interacting with media “anytime” and “anywhere” they wish. Media’s opportunity here is in shaping the interaction points and behavior of consumers by using new technology and platforms.
For advertisers, these challenges also mean new opportunities. They can play a vital role in shaping the interaction points and behavior of consumers by using new technology and platforms that allow them to reach customers in different ways, and in ways that more accurate reflect the lifestyles, location and preferences of consumers. More traditional approaches, like television and print, are becoming more of a support function.
As mobile’s transformation to the “first screen” status for initially engaging the consumer grows, surviving this challenge means advertisers will have to get on board with thoughtful mobile efforts -- and soon. With advertising being the media ecosystem’s principal financial basis, what’s required is an adjustment in how the media space looks, the tools that will be used for ad participation, and the money spent to make it all happen. Additionally, there will be a re-evaluation of the standards used to measure media in digital and mobile – it will shift from click-centric to engagement- and active-view-centric.
Media consumers are changing, too. With easier and increased access to content and attention spans shorter than ever before, evaluating individualized mediums along with data to reach the consumer will become more critical.
Advances in media have advertisers competing in an increasingly cluttered media environment. Consumers are bombarded with marketing messages on every device, every platform and in every facet of their daily lives. Consolidation and collaboration is needed so consumers aren’t overwhelmed. Ad agencies that will thrive will be those that become idea centers and advise on real-time and dynamic creative strategies while working with tech vendors to close the gap.
New technologies will continue to come to market, with mobile leading the way in creation of new media environments. For audiences, there is simply no going back – and that means their consumption will continue to increase.
Ryan Golden, CEO of Moasis