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What's Going on in the World of Advertising



I recently read an online editorial that consisted of comments and statements from some of today's top advertising professionals. The topic of the article highlighted how the concept of advertising is changing and also how clients are getting much more demanding. Some of those featured in the article who have been in the industry for a long time, said that they missed the days when advertising messages were just plain, direct and simple. According to the article, one of the challenges many advertising executives face today is incorporating the latest technology into their advertising campaigns.

 

In the past, when advertising agencies were pitching new business to a client, it primarily consisted of power point slides, and a storyboard message. However, now that technology has become so advanced in recent years, more clients today want to see some of this new technology in each new business pitch. Because of this, not only do advertising professionals have to make sure that their new business pitch is strong enough to win the account, but they also have to make sure that all their technology equipment is working properly during the new business presentation. According to one ad agency executive, having a piece of electronic equipment not working properly during a new business meeting can cause an agency to lose an account no matter how effective or strong their campaign message is. This means that it is no longer just enough for an agency to convince a client that they are worthy of the account, but now they also have the task of “wowing”them and entertaining them as well.

Because the needs of clients has changed so much over the past few years, many of them are now looking for agencies that are much more diverse and have a higher level of creativity. This includes not just selecting an agency for a specific account just because they have a large staff and have been in business for a long time. They are also not hiring an agency just because they are well known in the industry. As a result of this, you now see more smaller and younger agencies winning larger accounts. The advantage many smaller agencies have over larger ones, is that they have less overhead and a lot less red tape and office politics. By having less cost and internal conflicts, allows smaller agencies the ability to put more focus on their clients and their work.

In addition to new technology, many ad agencies today are also receiving client requests that involve creating advertising campaigns built around social media. This is why we are seeing more ad campaigns today being launched on sites like Linkedin, Facebook and Twitter.

While no one knows exactly what the future of advertising will be, many in the industry believe that it will be much more technology savvy and complicated. I guess this means that we should not be surprised in the next three to five years when we start seeing less ads and commercials on television, and more on our laptops, iPhones and video games.

 
Category: Money & Investing





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