The end of advertising is upon us. And something much better is on its way
This might read as old news if you have been following the Wayin blog for a little while, but now leading technology and business advisors Forrester are following the Wayin vision and calling time on digital advertising too.
For all too long, businesses have blindly squandered their marketing budgets on formats that are no longer fit for purpose. Chasing views, clicks and other vanity metrics instead of what really matters: engagement.
And through a combination of an industry failing to evolve with its customers, the proliferation of ad-blocking software and downright boring ads, average click-through rates in the industry have dropped to a dire 0.35%.
In the U.S. alone, marketers wasted roughly $7.4bn on display ads in 2016, of which a maximum of 40% were seen by consumers.
JOIN THE SWITCH FROM AD INTERRUPTIONS TO INTELLIGENT, CONVERSATIONAL RELATIONSHIPS
Consumers have had enough of shouty ads they can’t interact with that interrupt their browsing experience. Ad experiences need to become new and innovative like they once were a long time ago if they want to connect with consumers.
“Consumers are ready for deeper relationships with companies that matter to them. There are clear steps to take today, including embedding personality into your brand’s current conversation.” – James McQuivey, vice president and principal analyst at Forrester
Marketers need to focus on delivering experiences within ads that pique consumer interest and encourage engagement. Whether it be a quirky quiz, playful poll or some compelling curated content, you need to offer something worthwhile if you want something in return. And with interactive in-ad units, marketers can see engagement levels jump from a paltry 0.35% to over 40%. And the better, and more interactive the content offering, the higher those engagement numbers will climb. The sky truly is the limit.
MORE ENGAGEMENT, LESS SPEND
A digital campaign app store is almost certainly the missing cog in most organization’s marketing stack. And it’s this missing component that’s costing marketers time, money and engagement with consumers.
“Marketers should focus on building deeper relationships with their customers in 2017 – in part by investing in relationship technologies.”
And this can be done without breaking the bank. The Wayin App store revolutionizes the way marketers create, build and deliver ads and brand experiences across all digital channels. This ever-growing collection of innovative digital experiences and services make it easy and cost effective to create bespoke interactive ads and marketing campaigns that engage consumers across every digital touchpoint.
No wonder huge brands like Unilever and P&G are slashing ad spend and moving away from quantity to quality.
Download this Free Forrester Report to learn the state of display advertising and their vision for a brighter future
Original blog from Wayin by Danny O’Reilly