The world’s leading data, insights and consulting company releases a report, highlighting the trends which are going to dominate the digital and media industry in 2020. According to the report, as technology continues to redefine the media landscape, marketers and media owners will be challenged to develop the skills, engagement models and measurement capabilities to meaningfully engage consumers in the crowded media landscape. However, the report also predicts that a paradox will start to arise – as new and evolving media channels will create opportunities, the deluge of digital touchpoints will make it more difficult to connect with consumers.
The technology trends transforming the media landscape:
- 5G finally gets real: The marketing industry will be one of the key beneficiaries of the 5G era, enabling far greater capabilities to reach and engage with consumers. But taking advantage of the 5G opportunity will require a significant transformation from marketers.
- The battle of the streaming platforms heats up: Competition becomes aggressive as new players enter the streaming platform space, but an increasingly cluttered market will drive subscription fatigue among consumers.
- Turning up the volume: Brands will turn up the volume and find their voice as we enter a new age of audio advertising. Newer audio channels are poised to gain mainstream prominence.
- Content meets commerce: Content and commerce will converge, as ‘shopvertising’ evolves from shoppable social to shoppable TV and digital out-of-home. This means customers can directly purchase the product through QR codes for eg, thus shortening the process.
The spaces that brands can credibly occupy:
- Brands get back to reality: Brands will balance their digital presence with more real-world experiences, meaning we could see a slowdown in the pace of digital advertising growth.
- Brands take a stand: Taking the lead from consumers, brands will become more radical in 2020. But they need to ensure their media strategy is aligned with their values and purpose.
- Influencer marketing must measure what matters: Influencer marketing will mature as brands start to collaborate more deeply and take measurement more seriously in 2020.
- E-sports goes mainstream: E-sports will go mainstream over the next 12 months, presenting lucrative opportunities for the media owners and advertisers that learn the rules of the game.
The context and catalysts for change
- Turn and face the change: The trend towards media in-housing: The trend towards media in-housing will continue as more brands build their own teams of digital experts, pushing agencies and advertisers out of their traditional comfort zones, into a new collaborative and exciting space.
- Cookies start to crumble: Changing the recipe: The demise of cookies could leave many marketers in the dark. Advertisers need to prepare for the new “mixed economy”. Direct integrations between publishers and measurement partners will enable true cross-publisher measurement for the first time.
- The data dilemma: Doing the right thing with data: Faced with impending legislation like the California Consumer Privacy Act in January 2020, privacy ethics will come to the forefront and marketers will design personalization initiatives with a people-first, rather than tech-first, mentality.
- Campaign 2020: crowding and clutter: Political advertising will create crowding and clutter in 2020, especially in the U.S. media landscape. Brand advertisers will need to rethink their strategy during campaign season.
“2020 will be an exciting year for marketers. Increased advertising and content possibilities, along with the data generated, creating a plethora of opportunities for marketers and media owners. With new opportunities though, comes new challenges. Emerging foundational technologies could transform media usage, and other industry shifts, such as the demise of third-party cookies, will force marketers to evolve how they measure audiences across screens. Other channels, like influencer marketing and the newer audio channels, will face a make-or-break moment; their credibility could be at risk unless they evolve and live up to their promise. Marketers will need to improve their understanding of how different touchpoints effectively work for their brands – online and offline” said Jane Ostler, Global Head of Media Effectiveness, Kantar.