The Big 5 changes
Advertising in 2030
Advertising has changed significantly since the days of Mad Men. The changing technological landscape, along with a more globalized economy has shifted how businesses speak to consumers.
Today advertising companies have to contend with delivering messaging on smartphones, tablets, laptops, smart watches, even television, and magazines still. This may seem like a lot, but there is so much more coming. At Venuiti, we find this to be pretty exciting. We aren't just sitting around waiting for the future to come, we are preparing for it today and are always looking for ways to reinvent the paths this business will take.
Anticipating the future is part of our DNA. We have always been ahead of the game and continue to be so.
Data ownership transfer
Currently, big organizations have control over a lot of user data. This data is implicitly shared by users in exchange for free services (such as Facebook and Google). As data collection evolves and users become more aware of the immense value their data provides, it is predicted that users will 'sell' their data to companies if they wish to use it. No longer will there be an implicit agreement, it will be a written contract. We can see this shift happening even today as we enter a new era of data. In order to remain competitive and use data to deliver targeted messaging, advertisers may have to purchase data.
AI reaching maturityAI and chatbots will revolutionize how we talk to consumers. Artificial intelligence today is far more advanced than it was even 5 years ago. Through machine learning and ever more powerful computers, AI is predicted to grow exponentially over the next decade and it will revolutionize the customer service experience. No longer will individuals have to wait on hold for half an hour and try to explain their issues. Instead, sophisticated chatbots - which will be nearly indistinguishable from humans - will be able to answer queries in real-time. Each customer interaction will provide more data from which the AI will learn and provide better answers. These bots could be used to deliver target content directly to prospects at scale. We know that people have concerns over the control AI could have over their lives and we can build systems which address these issues. We value our human relationships and will always put you first.
Personalized notificationsCurrently, most notifications are sent out on mass. Companies have a master list and they communicate the same message to all of these customers. In some cases, these messages are slightly personalized (such as by adding the customer name at the beginning of the email). However, these attempts at personalization are transparent to the vast majority of customers. In the future, notifications will be truly personalized. There will be comprehensive data available about each customer and - in conjunction with supercomputers and AI - companies will be able to deliver truly personalized notifications.
Internet of thingsWith the widespread adoption of the internet of things, everything will change. Even today there are high-end thermostats, lights, and fridges which can be controlled through the internet. In the future, this will be standard and everything will be connected. Users will be able to have to manage all of these tools through a central hub. Business could purchase the data this generates and deliver notifications through these processes. Take this for an example: A user runs out of apples in their fridge. The fridge 'knows' that this user likes to eat apples regularly - based on the fact that apples are entered into the fridge regularly. The grocery store that the user goes to receives a notification that this person is out of apples. The grocery store then delivers a notification to the user through the fridge. The next time the user goes to the fridge they are told that they are out of apples and that there is a deal on apples at the grocery store. Processes such as these will become standard and change the way firms communicate with consumers.
Virtual reality/Augmented Reality (VR/AR) today is just beginning. Just a number of years ago these technologies were confined only to highest end users. Then Google came out with its Google cardboard - users are now able to see the wonders of VR for under $20. However, this experience is still only touching the tip of what VR/AR can really do. In the future, VR/AR will be everywhere. You will not just see a movie - you will take part in it. Instead of delivering recorded ads to their prospects, companies will be able to deliver real experiences - truly showing users what their product or service provides. VR/AR will also be married with customers services as there will be holographic artificially intelligent chatbots who will be able to answer customer queries.
In order to be at the top of the pack, it is vital to understand future trends. Work with Venuiti and let us help you stay not one, but ten steps ahead of the rest
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