Challenges Facing The Advertisers
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In the recent past due to change in technology, the means, and ways of advertisement has change as compared to how it was done in the past 50 years of marketing. Many of the marketers have acquired various ways of reaching their customers with the help of new technological equipments. Despite many of their successful ways of reaching the customers, there are some challenges they face as marketers either through the new, advanced technology, or through the change in the production of goods and services. This paper will majorly focus on the challenges advertisers might face in the next coming 10 years and will bring a positive effect in their work. There is also a discussion on the new technologies that will emerge that will change the way advertisers reach their target audience in the next 10 years.
Considering the current change in technology there is a significant record change in how the many advertisers advertise their products in the market. With this upcoming new technology, it is accompanied with their own advantages and disadvantages. One of the indicators that mobile advertising is being taken seriously is the recent spate of buyouts and mergers – such as Google spending $750 million for the mobile ad agency AdMob, or Apple buying Quattro Wireless for $300 million. Such enormous sums being thrown around for companies barely out of their start-up phase indicates the seriousness in the mobile advertisement. Tough the mobile advertisement has not gotten its roots in the marketing sector; it is believed to be most easy way of advertisement in the coming few years. This mobile advertisement involves only two parties that are the wireless carrier and the end user. This two are suppose to use some given strategies to approach the market that is suitable segmentations. p>The mobile advertisement being one of the most used device, advertised still face the challenge of the abundance of Smartphone and high-end connected device, which has attractive applications with a high-speed data networks. These features have created network congestion within the mobile industry today and have become the most pressing issue for even the mobile operators in the entire world. As recorded by the Cisco’s Visual Networking Index (VNI), global mobile traffic of data will increase by about 39 times from 2009 to 2014, which is the same as 108% compound growth rate. Realizing also that young people are the main targets, and are in use of mobile phones, the advertisers also face the challenge of the language and the dressing to be used in advertising.
Another challenge is on facilitating a real dialogue between the advertisers and the consumers. From the past years, Regis McKenna has made argument pertaining this issue but, unfortunately, it is becoming worse to be tackled than ever before. This is because, many of the advertisers have been giving out too many messages, conveying too many "brand propositions" that make promises that do not ring true with the experience a customer gains from the product. There is a lack of authenticity in the brand promise with is accompanied with the sheer volume of messaging resulting to a continuous decline in the advertisement of ROI. With the knowledge, that customers have gain concerning the various products the advertisers will no more challenge them with voluminous messages rather they face a rejection of their products. Most of these advertisers should embrace the idea of giving out the truth about a product to win the consumers to buying their product. The communication revolution between the advertisers and the consumers has set in motion the process of homogenization of consumer aspirations and value systems. In addition, it has also homogenized the pattern and form of communication between the two. This has risen to the extent that a universal language of advertising is emerging, even though conditioned and modified by local usage and expressions, which are often a medley of western and Indian words, images, concepts, and music.
A low-conversion rate is also another challenge facing the advertisers. This has no choice on the type of pay-per clip advertisement being made be it sales, leads, conversions, or sign-ups (Eli Cohen, nd). Many of the advertisers use the method of trial and error in figuring out the tools and methods, which will work, for a given advert. This is also a significant challenge in that most of the advertising groups have no skills on how to break down the keywords into tightly themes ad groups. By doing this, they will be making their adverts extremely relevant and highly targeted.
Because of the new emergent in technology, new products and services are also coming in place in the market. New products are being generated which is as a result of new ways of lifestyle. With the same products being manufactured by different companies, or a service being offered by more than one company, the customer will have a wide range of choice to make. For example, the drinks manufacturing company, a consumer will have a choice to pick one of products from one company. It is in this context as an advertiser to make your brand known to customers to compete with other companies with other brands. Therefore, the challenge comes in when the advertisers has no skills on how to win aver a consumer for one brand against other various brands and still retain the loyalty of the brand with an increase in sales. With the liberalization of the economy, expansions of such markets have been evidenced.
As an advertiser, they need to realize that advertisement now is part of everyday life, and it has an influence on every day’s purchase decision, consciously or subconsciously.