Advertising has gone through a rapid overhaul in the last 30 years, and is currently at a stage that is far beyond the scope of what even the most progressive advertising innovators could have envisioned back then. The sector has undergone major changes with the advent of social media marketing, digital billboards, and the explosion of internet advertising, in addition to the more traditional radio, television, newspaper, and billboard campaigns. Advertising agencies cannot afford to overlook any facet of modern life, and the competitiveness and revenue of the sector worldwide continue to proliferate at a seemingly unsustainable rate.
Television advertising has morphed into an art form over the years, and continues to be the most effective, expensive, and ultimately the most popular with both clients and the general public. In a sector of constant change, it is seemingly a mainstay. With the advent of so-called "on-demand" television, increasing internet speeds, and smart televisions, it seems likely that the sector may be vulnerable to external factors in first-world countries over the coming years.
Billboard advertising is undergoing massive systematic changes as we speak. The traditional paper and cardboard approach is being subsumed into the digital revolution, with screens now allowing more than one advert rolling in the same place. With car ownership at an all-time worldwide high, and electrical products being so cheap at the minute, the future looks bright for a vital source of income for advertising companies.
Newspaper and radio advertising both occupy strange places; trapped in a strange abyss between the old and the new. Online editions and streams have increased the advertising sales potential of both media, and revenues in the traditional forms shows little sign of abating any time soon. Again, good news for the advertising industry, which is in a perfect position to capitalise on this.
Online advertising now encompasses nearly all other forms of advertising. Nearly every site on the internet now carries some form of subliminal or casual advertising, and the revenue potential is essentially limitless. Progressive agencies now know that only a total immersion approach will work on the internet, and although the opportunities here are huge, it requires an extra time investment.
Social media marketing is an exciting new product of the internet explosion. It allows personal tailoring of advertising, interaction with target audience in more intimate ways than previously possible, and allows for much cheaper market research and product refinement statistics. The opportunities are huge, and the possibilities limitless. Creativity on different sites like Facebook and Twitter has allowed brands to integrate themselves even more intricately into the general consciousness than ever before.
The positives are however cloaked in the realms of reality. The volume of money to be made through advertising has a natural limit, and with the various forms of advertising now lacking the control, restraint, and simplicity of old, there is a need for advertising agencies to master all areas, and be conscious of the changing world around them, in order to be a success.
On the whole, there's more work to be done, more money to be made, and more opportunities than ever before for brands, agencies, and media organisations. However, there are now greater skill challenges on agency staff than ever before, and there is still a requirement for the ruthless genius that characterised the advertising of old.
Russell Davies is the owner of a leading social media marketing company Lobster Digital Marketing Limited based in Cardiff, UK. Lobster offer a full range of social media marketing services including campign strategy, social profile set up, Facebook and Twitter account management, content marketing, blog and article writing and more. Lobster is driven by a desire to see its clients succeed.