PSFK Future of Advertising Report

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@PSFK | #FutureofAdvertising LABS The Future of Advertising The New Rules Of Consumer Engagement OVERVIEW

Transcript of PSFK Future of Advertising Report

@PSFK | #FutureofAdvertisingLABS

The Future of Advertising

The New Rules Of Consumer Engagement

OVERVIEW

- 50+ examples of innovative campaigns, with key performance indicators and quantitative results

- Insights and statistics from PSFK’s original global survey of the industry’s leading pioneers and researchers

- New realities changing the relationship between people and brands

- Levers impacting purchase decisions for digital consumers

- Best-use strategies for VR, video and mixed reality

- Trends-centered conversations between international professionals

- A bonus 60+ page summary presentation deck

Shaped by changing audience habits and evolving industry practice, the PSFK Future of Advertising report presents a playbook of strategies to transform digital advertising into richer engagement between brand and consumer.

Get the full report for:

Download the Full Report at: psfk.com/future-of-advertising Access all Reports and Debriefs as a PSFK Member: psfk.com/membership

Get The Full Report@PSFK

#FutureofAdvertising

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Seizing The Industry Opportunity

Piers Fawkes Founder & Editor-In-Chief

PSFK.com & PSFK Labs

Version 1 | Published April 2016

The evolution of advertising is driven by a fairer, balanced and more engaging relationship between consumer and brand. While we may preface our findings by pointing out some of the obstructions to the sector (cue: ad blocking), a new dynamic is really at work here: digitally-charged consumers have new-found power and they are willing to yield it.

That said, people still want to connect with brands—but will it be your brand? Folks aren’t content sitting back anymore, listening to the messages that corporations preach. Brands must seek their customers and engage them appropriately at the right time and right place.

The great opportunity is that by leveraging the strategies, tools and inspiration in PSFK’s Future of Advertising report, brands can reach their target market at appropriate scale within budgets that provide a return on investment.

Sure, there’s hard work to be done to create the future of advertising (and some creative thinking)—but what true relationship ever came about without effort, care and attention?

Download the Full Report at: psfk.com/future-of-advertising

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Diminished Attention Spans

The human attention span shortened from 12 seconds in 2000 to 8 seconds in 2013. Attention Spans: Consumer Insight, Microsoft, 2015

New Interfaces : Chat And Voice

Millennials spend equal or more time in messaging apps than on social networks. Brand Engagement Report, Frank N. Magid Associates, 2015

Ad Blocking

Spending on digital video advertising increased almost 60% in 2014, while the number of ad blockers rose from 54 million to 121 million. Ad Blocking Goes Mainstream, PageFair, 2015

Artificial Intelligence

59% of online traffic stems not from humans, but from query-focused bots. Distill Networks, 2015

The AudienceIs Changing

The PSFK Advertising Survey 2016 polled over 150 professionals from brands, agencies, media outlets across 14 countries to understand how advertising professionals view the future of their industry.

The Industry Is Changing

50% of brands think that advertising is more important than ever.

Advertising Is Still Important

56% of the industry says advertising agencies are less important.

But Agencies Are Less So

44% agree that media outlets are less important as well.

49% of agencies worry that the agency is less important than before.

Agencies Are Struggling To Find Their Role

80% of media outlets think the agency is less important than before.

Media Outlets Are Encroaching On Agency Responsibilities

Media Outlets Are Fading Too

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Agencies

Moving past branded messaging, agencies must transition to become co-creators of identities, tools and products with their clients.

Brands

Brands must assemble a diverse team of agencies, producers, innovation partners and media providers to not only create content, but also to reach them in the right moments.

Media Providers

Media providers will expand the scope of branded content, integrate contextual activations into offerings, and develop more immersive platforms.

Evolution Of The Marketing Industry

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The New Rules Of Consumer Engagement

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Scott Lachut President of Research & Strategy

PSFK Labs

The New Rules Of Consumer Engagement

Today, digital is an expansive term that spans devices, platforms and channels; a conduit that brings media, entertainment, information, social communication and messaging into nearly every aspect of consumer lives. By its very nature, digital is simultaneously mass and niche. Even as hugely popular networks like Facebook, YouTube, WhatsApp or Reddit grow, they can be home at any given moment to one collective conversation or thousands of disparate ones. The race for consumer attention is more competitive than ever.

Big, commercial campaigns shouting top-down messages to broad demographics are no longer tenable or effective. Savvy consumers simply ignore, block or even subvert the marketing that is being pushed their way. As a result, a new paradigm for engagement is beginning to emerge that recognizes the ascendant role that consumers play in today's marketplace. This model views advertising as more of a choice, a conversation or a point of connection.

Within this report, PSFK Labs describes the new rules to building consumer engagement, charting effective strategies for capturing audience attention and growing mindshare. Throughout the document, we highlight best-in-class case studies and expert opinions and share actionable insights for brands, agencies and content providers.

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7 Triggers To Consumer Motivation

REWARD

STATUS

UTILITY LOYALTY ENTERTAINMENT

NOVELTY CONVENIENCE

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The Future Of Advertising: Emerging Realities

Attention Is Currency

Relevance Is Contextual

Perspective Is Impermanent

Media Talks Back

Learning Breeds Loyalty

Experimentation Is Welcome

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Success Leans

Qualitative

- 50+ examples of innovative campaigns, with key performance indicators and quantitative results

- Insights and statistics from PSFK’s original global survey of the industry’s leading pioneers and researchers

- New realities changing the relationship between people and brands

- Levers impacting purchase decisions for digital consumers

- Best-use strategies for VR, video and mixed reality

- Trends-centered conversations between international professionals

- A bonus 60+ page summary presentation deck

Shaped by changing audience habits and evolving industry practice, the PSFK Future of Advertising report presents a playbook of strategies to transform digital advertising into richer engagement between brand and consumer.

Get the full report for:

Download the Full Report at: psfk.com/future-of-advertising Access all Reports and Debriefs as a PSFK Member: psfk.com/membership

Read The Full Report@PSFK

#FutureofAdvertising

ACCESS INNOVATIONPSFK membership provides you a constantly updated database of over 50,000 ideas for you to leverage as you build the future.

PSFK Membership includes access to:

•360+ Innovation Stories Monthly

•Archive of over 55,000 Ideas

•All PSFK Published Debriefs And Reports

•Events and Networking Opportunities

Become A PSFK Member to access all PSFK Labs Reports: psfk.com/membership

PREMIUMPURPLEBASIC

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About PSFK LabsPSFK Labs 42 Bond Street, 6th Floor

New York, NY 10012

PSFK Labs is an innovation consulting firm. Since 2004, our agency team has helped global corporations concept better products, services, communications and experiences. Our researchers, analysts and designers leverage a unique research process with unparalleled access to experts to identify and develop new business opportunities for brands.

In addition to our client work, PSFK Labs oversees the innovation portal PSFK.com and produces a series of reports, workshops and events that inspire creative professionals in their work.

Insights And Ideation Workshops

PSFK Labs' workshop program integrates trend immersion, innovation ideation and expert speakers to take teams from emerging insights to future-forward ideation in a single day.

If you are interested in organizing a workshop, seeing a presentation of this report, or understanding how PSFK can help your team ideate new possibilities for your brand, contact us at [email protected]

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The Future of Advertising

The New Rules Of Consumer Engagement

Full Report at: psfk.com/future-of-advertising

OVERVIEW