Marketing is changing as the priorities of consumers are adjusting to a new reality, and there are some new directions.
Marketing is changing even around the most significant events that attract the most money and attention. The Super Bowl in the US used to attract eye-watering amounts of advertising money – a 30-second spot would cost well over $5 million – but now those advertising dollars are finding more immersive ways of engaging with customers. For most big consumer brands, the call of the Metaverse is compelling, as are the newer social media platforms. Brands are taking to Tik Tok, where they are hosting events, promotions and interactive challenges as a way of keeping attention beyond the limits of the game.
Miller Lite is hosting a bar in the Metaverse called Decentraland during the game, which will be great, although a virtual beer sounds less appealing than a real one.
Advertising for the big brands is becoming more immersive and, as Daniel Bonner of Wunderman Thompson says of the future of advertising ‘participation will outsmart persuasion.’
Augmented reality will be a huge part of this trend, and investment in enabling platforms for augmented advertising is where giants such as WPP are focused.
Marketing is changing in the telecoms world, although not in quite the same way. Research shows that telecoms customers have changed during the pandemic, becoming less thrifty, bolder and more optimistic. They are more likely to talk with their money than before and, therefore, telecoms companies must focus on better engagement and personalisation (two trends that haven’t been very impressive so far).
Security and privacy are significant issues for telecoms customers, and hardly a day passes without reports of a data breach or the latest skirmish in the privacy wars involving Meta, Google, and governments worldwide. We have long said that trust is one of the most valuable assets that telecoms companies can boast, and now is the time to leverage that trust, promoting expertise in security and privacy, while other tech companies flounder in the privacy mire.
Marketing is changing across the board, becoming more about participation, involvement, trust, security and privacy. Telecoms needs to get on board to engage the new needs of its customers.