With consumer spending finally seeing a comeback post-recession; there seems to be an equal rebound in marketing spending. The global advertising market is expected to grow by 6% in 2014. However this does not mean that all forms of advertising is expected to grow. In fact it is projected that TV Ad Revenues will drop around 3% – in part due to a lack of political elections or the Olympics. Despite being an off year for TV Advertising, for some reason this is still the most prestigious advertising platform.
Even though the advertising landscape is changing and adapting to new technologies, it is definitely lagging behind the times: mobile is just beginning to make a dent in the advertising world. With more and more Millennials coming of age, this will heavily affect the way companies interact with their customers. The trend has already been pushing towards a tailored shopping experience, where customers expect promotions, a social media presence and brand recognition.
As smartphones become more of a necessity rather than an accessory in everyday life, many top brands are beginning to notice mobile in the marketing landscape. Although digital advertising has become an important part of the conversation amongst marketer, mobile is the next frontier. The tech-community has experienced exponential advancements in mobile capabilities within the past year; however, this technology hasn’t caught on with most industries yet.