The summer holiday season has just started. While traditionally business activities decrease in July and August, Media Intelligence uses that time to reflect. We look back at the past six months and look ahead. Do we need to modify our current strategy? Are there trends we should closely monitor? Are we still on track?
The typical guru talk
Earlier this month we talked about the importance of innovation and keeping track of media trends and whether or not we should jump on that trend train.
Trends are often discussed at the end or the beginning of the year. People who closely monitor emerging trends and tech or media gurus often blog about what to expect in the next year. Sometimes their insights are based on experience, sometimes they are based on data. Whatever their predictions might be, it’s always interesting to take note of what they predict and evaluate whether or not they were right.
Were they right?
Surely you know that Media Intelligence services deal with a wide range of media coverage. The traditional talks therefore do not just focus on social media, they focus on anything media related, from reporting trends to experience trends.
For a couple of years it has been predicted that e.g. news reporting would change. Where we traditionally had newspapers (printed or online) covering well… news, we now have instant news reporting via Facebook. Apple recently also launched a similar service and many will undoubtedly follow. One could obviously start questioning the recycling of content and copyright.
They were also right about paid content. All over the world more and more newspapers only offer content to either paid subscriptions or to those not using adblockers. The prediction was made that adblockers would impact revenue and that therefore alternatives would emerge, like paid content. They were right. Adblocking is a topic which gradually is also getting political attention.
Extreme predictions like the disappearance of traditional newspapers and the entire appification of our society have not yet come true. Fiction or a distant reality? Who knows.
It was also predicted that social advertising would take a more important role. Think of personal reviews of a product, a personal experience and why you best buy or not buy a specific product. This personal experience is valued more important than the impact of a traditional tv ad (at least for younger generations). Look at how the Chewbacca mom boosted the Star Wars franchise sales.
Our personal experience is that due to a constant changing market, customers are becoming more demanding. We see that we need to differentiate and offer more tailormade solutions specific for a sector or sometimes even a customer. And they are right. If we want to be ahead of the game, we need to invest in tailormade solutions or packages.
After the summer, when the business activity’s engine starts running again at full speed, we need to gradually have an idea of what Media Intelligence is to face in 2017. We need to think of new challenges we would love to explore.
Will the vanishing of FM broadcasting impact the amount of radio listeners and thus impact media coverage of a brand? Will brands start working with personal targeted advertising once full digital broadcasting has been implemented? Should we need to expand the coverage of broadcasting services and also include pure online/ digital tv stations or radio (streaming) services?
Will technology ever be able to also analyze content placement based on visuals (Coca-Cola bottle on tv, Chanel n°5 used in a movie) and should we need to anticipate to that?
Bottomline is that everything changes and that media intelligence should be on top of the game, because if you’re not, someone else will.
Enjoy this summer period, recharge your batteries and don’t forget to reflect!