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Marketing and Advertising Industry Trends (2017)
Jodie Byass — May 10, 2017 — May 10, 2017
It’s well into the new year and, hopefully you are well along the way to achieving your goals for the year. Now, is a good time to stop and reflect on some of the trends that were predicted for 2017, and take a stocktake of where things have progressed so far. Lets take a look.
It was predicted that adverting and marketing industry will see a few trends from last year follow through as well as a focus on streamlining operations with agile methodologies and digital tools. A return to brand trust and honouring teams (over individuals) is what marketers and creatives are likely to be attuned to in 2017.
Brands to bring creative projects in-house or outsource to smaller digital agencies
Last year saw a definitive shift in brands choosing to bring creative projects in-house for more control over budgets and resources. The other trend saw brands cutting ties with bigger agencies and outsourcing work to smaller digital agencies which could deliver more specialised campaigns. In 2017, it’s predicted that brands will continue to move away from larger agencies that have in the past offered a one-stop-shop for their advertising needs. With tighter budgets, brands are seeing the cost-effectiveness of having their own studio team and paying salaries versus project based fees. Likewise, outsourcing to specialised digital outfits for lower, one-off fees is proving more financially sound for brands.
The industry will ramp up it use of digital marketing and advertising tools to streamline marketing workflow.
As brands and ad agencies continue to leverage multiple channels to capture new audiences, eliminating tedious administrative tasks is high on the agenda. With digital tools, marketers and creatives are managing approval workflow and resources with greater ease and transparency allowing them to stay on top of heavy workloads and multiple projects. Some of the digital tools that the industry is moving towards are: marketing approval workflow software, agency approval workflow software, project management software, online proofing tools and resource management software. Not only do these tools cut out time-consuming administration, they offer greater control and visibility over managing creative projects as well as streamline marketing workflow.
More brands and ad agencies will go agile to enable more flexibility
More businesses are moving towards an agile methodology to enable them to be more flexible in responding to a rapidly changing marketplace. Agile project management was developed as an alternative to the hierarchical project management model, which favours processes and documentation, and longer-term development projection. Agile methodologies, on the other hand, utilises a self-organised team model with greater flexibility in scope, face-to-face collaboration and incremental planning to deliver projects on time and on budget. In 2017, experts are expecting to see more marketers and creatives go agile to remain competitive.
2017 will see the return of brand trust
Last year, many brands were called out by regulatory bodies such as the ACCC for illegal or unethical practices. Not only has this resulted in brands paying hefty fines, but they are paying an even higher price if their reputation is tarnished. In 2017, more brands will toe the line because their bottom line depends on it. With that said, marketing compliance will be high on the agenda again this year with marketers having to stay on top of compliance issues to stay out of hot water. Digital tools that enable brands to audit their project work will go along way in helping businesses to manage their market compliance.
There is no “i” in team
While every brand and ad agency needs highly skilled individuals on board, in 2017 it’s back to basics with a focus on teams to propel businesses forward. Nurturing your team and their skillsets, setting processes that ease heavy workloads, delegating tasks evenly and ensuring morale remains positive are all going to get more ROI for your business than focussing on individuals. Experts are also warning that departments need to stop working in silos and implement processes and tools that offer greater transparency over the entire business.
Content marketing trends sees a shift to native advertising, video and mobile
Experts are predicting that native advertising will be hot in 2017. With ad blocking on the rise, brands need to stay visible in a way that doesn’t interrupt the online user experience. Native advertising is a paid advertising placement that is blended seamlessly into a platform’s content so that it doesn’t interrupt the readers flow.
Video went from strength to strength in 2016 and 2017 is being heralded as the year of the video. With reports indicating video achieves a customer conversion rate of up to 60%, what’s not to love about it? Customers can’t get enough of this medium because it’s fun, easy to access and little effort is required to engage it. Live streaming is also kicking goals giving customers a real time brand experience and enabling brands to capitalise on a new revenue stream.
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