Looking for an advertising agency in 2021? Here are some things you may wish to consider in advance of your selection.
An effective advertising agency in 2021 is a very different looking entity than the advertising agency of 2010. And the reality is unless you are aware of the seismic shift in consumer attention, you will not be well placed to choose the right advertising agency.
The change in media and media consumption over the last decade has been dramatic. To illustrate this print advertising revenue worldwide is at the same level it was in 1950.
Publications like the New York Times, have taken the last decade to reach a revenue line like the one they had back in the 1990s. Interestingly this has only been achieved through an aggressive digital strategy.
They chose to execute early while other print publications have completely disappeared.
In a paper produced by the Harvard Business Review in 2014. Consumer attention for Television advertising decreased from 97% consumption in 1992 to less than 20% in 2012. I imagine this is considerably lower today.
Before choosing an advertising agency, you need to consider that “consumer attention,” has shifted. The consumer needs to be paying attention to the medium your advertising on before you have a chance of influencing behaviour.
Today's advertising agency trades on real-time consumer attention. Understanding not only where the market is, but how to engage that market.
The consumer you are trying to reach, and that attention you are vying for is now on social media. Facebook now has over 2 billion monthly active users, with Instagram slightly behind at over a billion. Instagram is the fastest growing social media platform in the world, with six in ten online adults hosting an Instagram account.
Advertising Agency Skills
In 2019 for an advertising agency to be effective it needs to have a deep understanding of social media. How to execute effective advertising on these platforms, and target correctly. This is advertising that talks back, as in the consumer can comment, share, and engage with the advertising.
It is also advertising that allows you to build an audience interested in your message.
The set of skills an advertising agency needs to use to make effective advertising for social media is also very different.
What should be pleasing to know for any advertiser is that attribution is built right into the platforms. And depending on your goals, you can measure every aspect all the way through to conversion.
With the world's largest advertising brands shifting considerable spend to this medium. Global publishers are now producing articles on the platforms through mediums like instant articles. You do not want to be well behind the curve when it comes to advertising your brand.
In 2021 choosing the right advertising agency has never been more critical to the success of your business. An effective advertising agency needs to understand where “consumer attention” is. They also need to know how to use these platforms to influence buying and brand behaviour and measure the entire journey.