The Complete Guide to Advertising In 2020


Marish Binuya Cheong

Editor with Genesis Global Singapore, revising and reviewing contents to improve viewers readability including content creation for publications.


Back before the digital days, the advertising industry was dominated by arrogant creative directors who targeted rich client contracts, at times creating campaigns that set the cultural agenda and captivated the public. However, not anymore..

Advertising agencies are accumulating large pools of consumer data and have become more aware of their customers’ wants and needs. But there are just 2 problems that has resulted in a clear need for change in the industry:

  1. People, especially millennials, hate ads and are willing to pay just so to avoid them
  2. Companies expects more from ad agencies while paying for less 

This has forced advertising agencies to extract out what remains of their outdated model or risk falling deeper into irrelevance. 

Your Guide to Advertising in 2020

Advertisers and marketers are under a never-ending pressure in the industry today as they no longer just create advertising campaigns 3 to 4 times a year to run across a few networks and prints. As it gets harder to reach audiences and consumers, marketing costs are increasing due to the rapid escalation of the number of platforms and the costs to cover all those platforms. 

While advertisers blast consumers with ads across platforms like Facebook, Instagram and more, consumers are trying to avoid viewing these ads by registering for ad blockers and subscription services. 

Current problems of advertising

Joanna Coles, former chief content officer of Hearst Magazine said “People hate advertising and it’s all the advertisers’ fault”. 

Ads are often irrelevant and sometimes just silly, ridiculous or stupid

Marc Pritchards, chief brand officers at Procter & Gamble added on. Marc also stated that while they tried to change the advertising ecosystem by doing more ads, they created more noise instead. 

According to a report by GroupM, “Dangerous days” for advertisers are here as the industry is facing difficulties adapting as companies like Netflix feeds consumers with ad-free entertainment and Google and Facebook reforms the way ads are being delivered. 

The change in consumers’ habits and behaviour especially of the younger consumers are a sign that commercial impressions are on the road to hitting a plunge worldwide. 

5-year projects are no longer the wants. Instead companies are seeking advertisers who are able to deliver results in a matter of months.

With long-term contracts shortened due to tighter budgets and more rigid performance metrics, multimillion-dollar, 5-year projects are no longer the wants. Instead companies are seeking advertisers who are able to deliver results in a matter of months. 

Due to a weakening economy and increasing geopolitical tensions, the growth rate of global spending is forecasted decrease in the year 2020.

The new way to advertise in 2020

While advertising in 2020 has become a very complicated, degressive marketplace, some start-ups have adapted Reward Advertising that rewards or compensates consumers for viewing ads. However, this is not sufficient to reach viewers effectively. Advertisers must also incorporate data-driven, tech-fuelled approaches such as automation and machine educating technologies and to stay flexible and quick to adapt by centralising operations.

This year, online platforms such as Facebook, Google, YouTube and more are where companies are mainly investing the majority of their advertising budgets in. Advertisers such as Unilever and Bayer are beginning to disengage advertising agencies and handle advertising internally.

Conclusion

In conclusion, the existence of ads may not necessarily be a bad thing when advertising in 2020. In fact, with the right tools incorporated together with the changes in the industry, companies are able to showcase their creativity as they experiment with increasingly personalised advertising.

What are your thoughts?