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At first glance, the idea that advertising is a living being may seem strange, even absurd. But the history of advertising shows us that it is indeed a living and evolving entity.
Advertisements in the 1800s were primarily published in newspapers, city directories, and other printed publications. And these ads are a far cry from the one-to-one marketing many consumers receive today via email or social media.
But comparing the ads of today to those of more than a hundred years ago is only one way to recognize how advertising is a living and constantly evolving discipline. By understanding the continued growth of advertising (now and in the future), you’ll be in a better position to capture it yourself.
Related: This is the future of digital ads. Is your marketing strategy ready?
The evolution of advertising has accelerated in recent years
Technology has played a dramatic role in the evolution of advertising over the past few years. This is perhaps best seen in how far one-to-one marketing has come. In the 1990s, personalization was a rarity, aside from placing ads in media that appealed to a particular target audience. Ads these days often don’t just target audiences, they focus on individuals.
For example, Facebook has been reported to use 98 personal data points to target relevant ads to its billions of users. Amazon Personalize uses machine learning to provide curated product recommendations to shoppers based on past purchases, location, and other contextual data.
This comes at a time when customers increasingly expect brands to better understand their individual needs, with 52% saying they expect offers to always be personalized.
Advertising has changed, and so have consumer expectations. Individualized advertising has become the norm and can be a powerful differentiator that sets a brand apart from its competitors.
New opportunities and new challenges remain
Although advancements in technology have greatly contributed to the evolution of advertising, that doesn’t mean entrepreneurs won’t face marketing challenges.
For example, while Google Search has dominated much of the digital advertising conversation for the past decade, its parent company Alphabet recently reported declining revenue in Google Search, leading to layoffs from one of the largest companies. major brands in the world. At the same time, the company signaled an additional focus on AI, particularly integrating it with Google Cloud and Google services.
If one of the biggest platform holders in the industry makes these kinds of changes, you can be sure that it will lead to further changes in the digital marketing landscape. At the same time, the mixed levels of controversy and enthusiasm for AI underscore how consumers may have equally mixed reactions to its increased use in future marketing efforts.
Regardless of the specifics of how the current AI boom unfolds, it’s clear that such advancements are poised to change how marketing materials are created and how they reach and engage customers.
And AI is just one of the factors that can continue to evolve advertising. New social media platforms like TikTok have created new ways for marketers to communicate with specific audiences. When trying to use new channels, brands should strive to create meaningful and authentic messages that make sense for the platform.
Related: Why Artificial Intelligence Is Revolutionizing Marketing
Successful entrepreneurs don’t wait on the sidelines
While advertising has proven to be an ever-evolving entity, one fact remains: it is essential for successful businesses. As Henry Ford said, “Stopping advertising to save money is like stopping your watch to save time.”
While many brands will cut their advertising budget during tough economic times or wait to spend money on advertising until they’ve strengthened their market position, it’s usually the opposite recipe for success.
For example, during the Great Recession of 2008, McDonald’s actually gained market share and increased sales while its competitors struggled – and these results were largely attributed to it staying committed to its advertising spend. designated, although other brands such as Burger King and Pizza Hut withdrew from advertising.
The same can be true for businesses in any other niche, no matter how long you’ve been in business or who you’re trying to reach. Successful entrepreneurs are willing to jump in head first to get their brand and product or service in front of the people who could benefit the most.
Successful entrepreneurs take the time to focus their message on the unique pain points of their target audience. That’s why they look at multiple channels to reach audience members, and pay special attention to emerging platforms. Successful marketing takes work, but the end result is growth that probably wouldn’t be possible otherwise.
Build your future with advertising
Marketers designing print ads for newspapers in the 1800s probably never would have imagined the kind of advertising we are capable of producing today. But it also means that many of us are unlikely to fully conceptualize the continued changes and innovations that will hit the industry in the future. As entrepreneurs, what we should never do is get lazy, because ignoring innovation in advertising is pretty much like not advertising, and as Dr. Marietta Poshi, Professor of Marketing at Warner University, “Advertising is the most vital part of connecting a brand to consumers. No matter how good a product is, if its value is not properly communicated, the purpose of the product (or service) is defeated.
By prioritizing understanding industry trends, you’ll be better equipped to grasp practices that appeal to your target audience and help you grow, now and in the years to come.
Related: Invest in These 5 Technologies to Redefine Your Marketing Efforts