WHAT ARE THE BIGGEST SHIFTS YOUR INDUSTRY WITNESSED LAST YEAR?
It was more of the same shifts we witnessed in previous years.
More Digital Dominance: The continuous shift towards digital advertising continues to accelerate. More mobile devices, more social media platforms engagement, and more online streaming services.
More Data & AI Talk: clients/agencies increasingly rely on data analytics and machine learning algorithms to target more effectively. This is supporting the personalisation of ads and the effectiveness
of delivery.
More Brand Purpose and Values: I still believe consumers are increasingly gravitating towards brands and want to have brand experiences. They want brands aligned with their values, leading to an emphasis on purpose-driven advertising. A brand’s voice makes a difference in this noisy world.
WHAT WILL BE THE MOST NOTABLE CHANGES AND TRENDS IN 2024?
AI-Generated Content: This is a no brainer and already discussed at length in the industry. Clearly with advancements in AI, we will be seeing an increase in AI-generated content. Though it doesn’t necessarily mean that the content solution lies in AI, the tech behind it will certainly allow it to create personalised ads, optimise campaigns, and even generate marketing campaigns.
Personalisation: Though this is not new, the future of advertising lies in personalisation with new tech in place. Algorithms will analyse vast amounts of data too and will progressively get better in tailoring ads, individual preferences, behaviours and demographics. Whether that leads to more effective targeting and higher conversion rates will be the real test.
Audio Advertising: Audio is certainly on the rise. Podcasts, audio streaming platforms and smart speakers and audio advertising could see significant growth.
Brands should invest more in creating audio ads and sponsorships to reach audiences who are consuming content through audio channels.
Data-driven Creativity: Reality will hit creative teams on how data will shape creative output, but they will increasingly collaborate with analysts and AI systems to generate data-driven insights that support their creative process. This fusion of bringing science and art together will result in more personalised, relevant and engaging content.
HOW IS THE ROLE OF YOUR AGENCY CHANGING?
Fundamentally going back to basics, the role of the agency is to build brand stories that create a connection with consumers for the short and long-term.
The form in which the brand story is told can vary, by platform, by distribution, by data but at the end its role is to tell the brand story. Data and AI can always create an efficient plan but building a brand story is why agencies exist.
HOW ARE CLIENTS’ DEMANDS CHANGING?
The role of the agency is to build and nurture brands. The client’s demand is the need for growth and results from their marketing campaigns. Clients need their brands/businesses to cut through the noise and clutter that surround us and be recognised by potential customers. Cutting through the noise can be through more reliance on data solutions or by using specialised content by platform but the end result doesn’t change – growth.
WHAT SHOULD CLIENTS DO TO MAKE THE MOST OF THIS YEAR’S OPPORTUNITIES?
Embrace role of data and creativity at the same time. Building a data maturity framework to address the current and future is key for success while also having a creative eye on how to engage with audiences.
WHAT CHALLENGES DO YOU FORESEE THIS YEAR AND HOW WILL YOU TACKLE THEM?
More of the same challenges we faced in 2023 namely tech, and the application of tech in our industry and how that will play out in the future of advertising. In Saudi Arabia, we are experiencing a growth momentum in private and public sectors, so the challenge is being geared towards that growth and keeping up with the acceleration and talent development.
HOW WILL TECHNOLOGY AFFECT YOUR INDUSTRY IN 2024?
It has already affected it and will keep on doing so with data and AI at the heart of everything.
Overall, technology will continue to drive innovation and disruption in the industry, empowering brands to reach audiences more effectively and enabling agencies to deliver exciting content experiences across various digital channels.
-By Razmik Kalaidjian, Managing director, Boopin KSA
