Advertising Agencies - Trends
We were unable to find any trends adopted by advertising agencies related to the growth and differentiation of their businesses. What we were able to find we some advertising trends like using micro-influencers and AI. We also include the future trend of voice search advertising as well as some other useful information.
In our first strategy, we searched for any precompiled lists of trends related to advertising agencies and how they grow and differentiate their businesses. Some sites we visited were Forbes, Hoovers, and Entrepreneur. We found a few lists of trends related to artificial intelligence, social media marketing, and contextual advertising but nothing really gave insight on trends related to advertising agencies and how they are growing their businesses. However, we did note micro-advertising as being a usable trend due to its purpose being to grow their customer base and set their company apart from the rest by using the practically untapped micro-influencer market. Since this strategy was largely unsuccessful, we moved on to try to find market reports that detailed trends in the advertising agency industry.
For our next strategy, we reviewed market research reports (including paywalls) in hopes of directly identifying trends related to the growth of advertising agencies. Some websites we visited were IBIS World, Anything Research, Statista, and Plunkett Research. We found quantitative data like market growth for advertising agencies, total revenue, and annual growth rates. None of that information was usable to find trends related to growth in advertising agencies. Since we were unable to find any trends through the direct searching of market reports we focused on trying to locate the top 15 advertising agencies in hopes of identifying trends.
In our third strategy, we researched the top 15 advertising agencies in the US and used them as a basis to identify trends, we reviewed multiple press releases, blog posts, or publications published by advertising agencies looking for mentions of any trends related to growth. Some sites we reviewed were Vivial, Disruptive Advertising, and Kobe Digital. We found mentions of previous clients they worked with and the types of ads they designed for them, but nothing gave insight on any advertising trends related to growth.
As a last resort, in the hopes of findings case studies that talked about trends in advertising agencies and how they increase their business, we searched a number of case studies. Some sites we visited were 4As, Basic Agency, and AMP Agency. We found case studies talking about eCommerce, digital branding, and influencer campaigns but none of the data found led us to identifying trends related to advertising agencies and the growth of their businesses.
Since we were unable to find any trends directly related to advertising agencies and the growth of their businesses, we expanded our research to include advertising trends. The trends listed below have been taken from articles published by Forbes, Ad Age, and Entrepreneur.
Influencers help to grow brands and build brand awareness. Most companies invest in mid to high-level influencers which usually comes with pretty high costs. Companies are beginning to use more relatable micro-influencers who don’t have as many followers or as much engagement as other influencers.
ARTIFICIAL INTELLIGENCE (AI) IN ADVERTISING
This trend has “seen huge growth in targeting advertising”. AI and machine learning have helped to “eliminate the guesswork” when it comes to targeted advertising. It's also a powerful tool for improving and facilitating campaigns to gain new customers and with great cost-effectiveness.
VOICE SEARCH ADVERTISING (EMERGING TREND)
This type of advertising is directed to homes with Amazon and Google voice devices. It's hard to pinpoint this market because it's hard to know exactly how many of these devices are being used by consumers, but the advertising opportunity is a little too good to pass up. In the future, we can see partnerships with brands that will “allow for organic use of the devices” as well as direct call to action ads.
OTHER USEFUL INFORMATION
- There has been a growth of 35 percent between 2017 and 2018 in Over-the-top (OTT) ad views.