So if you’ve been thinking about the kinds of media jobs that will be big in the future. How about those that will be a paradigm shift in human behaviors? Consider this forecast from Magna Global, World-wide ad revenue will grow 4.8% to $536 billion in 2015. ZenithOptimedia, predicting spending will rise 4.9% in 2015 to $545 billion. Magna Global, says Digital Media is on track to surpass TV revenue in the U.S. by 2017.
Did you just read that, these are big numbers, and you should be looking at big number markets if you’re still trying to figure out where to apply your expertise or interests?
In the United Kingdom, Digital media is their top priority, and the same goes for international markets. As of right now, it looks like TV ad revenue is dying a slow death. Paid search is the number-one Digital media format with nearly half of all global dollars, followed by display (21%), social (12%) and video (8%). Magna states, “The shift to digital is having a deflationary impact on the entire market as digital formats, whenever comparable to traditional format, look cheaper and therefore erode the pricing power of traditional media categories,”. Mobile ad spending is growing super-fast, presenting a third of all digital revenues by 2016.
Wrap you head around this, according to Colloquy research, the average U.S. household now takes part in 21.9 loyalty programs every year, such as customer reward cards or frequent flyer programs. Mobile has now redefined life, more and more of your needs can in some way be manipulated by this device, to include how those loyalty programs should work.
Brands have direct access to customers via this device. Customers can be reach anytime anywhere. American Express worked with Uber to allow customers to pay with their Amex card for a ride, they earn twice the reward points and they can be used to pay for future rides with Uber. Since you’re already using them as a regular customer, it’s like being paid to use their service.
All the bigger businesses, like Target are using apps to make personalized offers to shoppers right then and there, while they’re in the store. The apps track your buying history, down to the brand. What does this boil down to for all these brands using this – DATA! Let us not ignore the fact that with these kind of loyalty programs, directly on your phone, you’ll never forget your coffee rewards card ever again.
So how sophisticated is the mobile technology? It’s friggin’ sophisticated!
NFC technology, the idea of a physical world being given a digital augmentation layer with the handset as mouse. This empowers the tap-to-pay activity like Apple Pay, to be applied to zillions of other things as well. Banks and payment systems will be the leading edge of change, as they educate people on the hidden capacity of their phones to communicate quickly with a tap on your phone. A projection from ABI Research sees NFC phones going beyond a 1 billion next year and reaching 3.4 billion in 2019. In North America alone there are about 113 million NFC-enabled phones with over 346 million projected for 2019.
NFC activation is always on, passive and energy-efficient. It is like your phone is in regular contact with the outside world and only notifies you if anything is relevant and in proximity. It can even tell you what your interests in a particular location would be based on your past activities within the geographic zone from previous digital transactions.
The new support for NFC from Apple and its proliferation among other handsets have encouraged the Australia-based Tapit, a mobile marketing company that specializes in mobile activations using NFC to open a New York office. They executed an NFC-powered campaign for Google Movies, using transit locations as the content delivery vehicle. As Andrew Davis, COO and co-founder of Tapit puts it, the degree of difficulty a consumer must go through to retrieve the experience must be proportional to the value delivered.
Mediapost.com says Apple is not yet letting third parties access to the NFC embedded in the iPhone 6 models. Davis states “it is like monitoring online behavior but in a physical context”.
If you can get your smart heads around this, you could get in with a digital media company that develop advance networking tools to give individuals super physical interactions with others, brands, and products. If you’re not already involved in something along these lines as your profession, then someone else with foresight is.
If you’ve had particularly unexciting or uninteresting experience with this kind of advertising interface, that was the old world, in the next couple years it will be the only way to live and do business. Live and work in the new world, do yourself that favor.