In 2017, Advertising Age reported that digital advertising spends surpassed TV for the first time. The explosion of digital – including its rapidly changing opportunities and challenges – will give challenger brands more than a puncher’s chance to become champions in 2018.
Companies such as Coca-Cola, L’Oréal and Nike are the current heavyweight champions of their respective industries. Does that mean all other brands should concede and head home?
The answer is an emphatic no. Challenger brands that leverage cutting-edge advertising trends and technologies will be able to overcome deficits in infrastructure, budget and manpower on unprecedented levels in 2018.
In 2017, brands were subjected to record fraud, high levels of invalid traffic and the “race to the bottom” on programmatic open exchanges, which showed that challenger brands operating on slimmer margins need to be smarter and more efficient.
As the CEO of PK4 Media, I recognize that some of our bigger clients can afford these inefficiencies but should not have to. However, it is critical that challenger brands avoid these pitfalls if they want to gain market share.
Here are three digital advertising trends that will turn challenger brands into champions in 2018.
1. Agency consolidation: Avoid too many cooks in the kitchen
2017 problem: Many brands retained multiple media agencies for their advertising needs – one for broadcast, another for social media, a third for digital, another for out-of-home and so on. The problem with this method is these agencies view each other as competition. Therefore, they work in silos, do not cooperate and have their own data, making it impossible for brands to measure the effectiveness of their various campaigns. Bottom line – this is not in the best interest of the brand.
2018 solution: With an omnichannel strategy, brands can better achieve what everyone has been talking about for Read More Here