Why are we moving so fast to digital?
The current average daily use of the internet, accessed via mobile phones, is over 3 hours per day. The average use of social media via any device is over 2 hours 45 minutes (WeAreSocial Report 2017).
Millennials will make up 50% of the global workforce and 85% of customer interactions will be managed without a human, says Deloitte’s Transitioning to the Future of Work report.
Basically, mobile has driven the social and digital revolution
The evolution of social ad spend
With Facebook’s profit reaching $1.56 billion in 2015, it is obvious that ad targeting has become much more popular, with the ability to target customers based on browsing behavior, attributes and even offline behavior.
Advertising has changed because life has changed
Given the rise of mobile, social algorithms and AI, and their impact on both advertising and how we engage, the way advertising campaigns are run has changed.
Years ago, advertisements ran on traditional media and were mostly targeted based on demographics. With the explosion of social media, brands and advertisers can now target their audiences based on browsing behavior and interests.
According to the 2017 Global Adblock Report by PageFair, 11% of the global internet population is blocking ads on the web as of December 2016. Furthermore, at the same date and according to the same report, there were over 600 million devices running ad blocker software globally, 62% of which were on mobile devices. According to Refuel, this widespread adoption of ad blockers is expected to result in $35 billion ad dollars lost by 2020.
This presents a whole lot of challenges and opportunities for brands. Marketers will need to influence the algorithm as much as, or even more than, they influence the consumer.
Marketers need to embrace machine led marketing, not because they themselves are incompetent but because insight driven marketing is what leads to results and allows marketers to focus on strategy – something technology can’t do.