The advertising industry, like many industries around the world, was shaken by the changes brought about by the pandemic, but new trends were formed, and some are expected to work until 2021.
Customization
Advertisers had to find ways to ease the anxieties of companies looking to expand their horizons through the media and advertising strategies.
Among the trends that emerged this year is customization. Industry experts believe customized solutions will further be explored by advertising providers in 2021 as demand for flexible deals surge.
CMO and president of NOVUS Media's geospatial media department Novus Next, Rob Davis, noted that as concerns about the pandemic continue throughout next year, "geo-targeted media will offer the needed customization."
Brands are increasingly in search of ways to adapt to COVID-related regulations and geographically-centric planning and research for advertising techniques should help improve goals in audience reach.
Value Over Brand
2020 was not just about the pandemic for many companies and brands; it was also about morals, values, and what is important for the greater good.
Chief of Google's Social Lab, Santiago Pochat, explained that brands have started to "put values over the brand," adding that some companies went as far as "compromising their business models to help."
While there has been some news about companies showing their true colors during the pandemic, there have also been brands that took a stand for racial equality, unity, and walking the talk in terms of company values.
Companies are expected to continue incorporating values and morals in their advertising plans in the coming year, as more people focus on emotional health in the coming years.
Diversification
Lockdowns forced companies to restructure their marketing strategies, with many seeking diverse and multiple platforms for advertising products and services.
Industry experts believe diversification of advertising targets will play a major role in the industry's pivot toward the "new normal."
Companies are expected to increase their online presence through different social media platforms as these mediums are continuously offering new features and opportunities for brands to market their products.
Instead of just focusing on website videos and photos, brands are expected to increase investments on paid social media channels beyond Facebook. Other platforms that could see an increase in ad demand are LinkedIn, Pinterest and even TikTok.
Programmatic Advertising
Programmatic advertising is basically real-time, automated buying and selling of ad inventory through the use of artificial intelligence in software.
The goal of this new trend is to give brands better chances of targeting specific audiences. Traditionally, brands request for quotes and proposals from advertising providers.
With programmatic advertising, the software will help brands plan and optimize their ads better, especially as it is expected that 2021 will usher in the integration of 5G networks and blockchain technology.
