Will Price, CEO of Flite, writes in his article, “Lessons Learned and 2012 Predictions for the Ad Industry,” at Direct Marketing News, that the state of the ad industry in 2011 was “tumultuous.” He notes that there were “deep agency cuts,” along with little growth, but that tumult can be good for the industry.
He maintains that relying on click-through information is a “clunky, vague metric” that really doesn’t give high-quality information to business owners. He states that agencies are still using click-through-rates (CTRs) as measurements for their clients, but they don’t show the real engagement users have with websites, for example, they don’t indicate whether users clicked on videos, or scrolled down and engaged with the content on the website.
In the coming year, he believes that app-like ads will become more popular, and they’ll become more functional, as well. Many of them include third-party components that allow users to purchase, chat, or search immediately, and that data from those ads will be far more detailed, and thus far more insightful and useful to marketers.
Using these app-like ads will allow marketers to engage with your customers immediately, and ads will have a far greater range than simple display ads. In the coming year, Price maintains, “agility is key.” He believes that startups will “begin ramping up their ability to quickly strategize, experiment, assess circumstances and make snap decisions in real-time when needed.” Advertisers will need to be speedy and make their ads relevant at the same time.
With social media at the forefront, speed really matters, and it equals resonance, as well. If you reach your customers immediately, it makes your advertising more valuable, which makes it more impactful and allows it to stick longer, too.
This agility will allow advertisers to reach their market 24/7 and to see the results immediately, as well. Marketers can see what’s working, and work on what isn’t working right away. Using current events and creating intriguing content will keep customers coming back.
Price also advocates taking risks and coming up with new content on a daily basis. He also says to tweak content until you find what works for your audience, and then hone in on those topics.
Swapping this modern content for traditional banner ads can capture a much more diverse audience, and if it’s not working, you can simply scrap it and start again. This didn’t happen in the past, when ad campaigns could take weeks or months, but that won’t happen in 2012.
Lessons learned and 2012 predictions for the ad industry, by Will Price, CEO Flite