As a kid, my dad consistently explained to me that traditional advertising was falling and that there would be a new age that would come about very soon. Although that might sound like an odd conversation to have with an 8 year old at that time, considering that advertising was my dad’s business, it was a topic that I’ve always kept tabs on. As print media began to fall and as digital media began to become more and more prevalent, it was clear that there was a new competitor in town that would completely change the landscape of advertising and the way we view advertising as a whole.
The invention of Social Media finally allowed the consumer to develop a powerful voice and influence. Suddenly, there was a shift in power from institutions to individuals. In Quesenberry’s book “Social Media Strategy”, he references an example of Sony Europe. The team had identified a pain point in which consumers were asking a plethora of customer-service questions that couldn’t be handled by staff. “In response, Sony Europe created an online community of Sony users and began to identify and reward the most valuable super-fans.” This strategic shift resulted in an enormous opportunity of growth for the brand and was effective at keeping their consumers engaged. This is just one example of the thousands of stories that are impacted by social media each and every day.
As marketers continued to notice the shift in advertising, a new reality was formed. Advertising is no longer a one-way street as it once was, but a two-way street that allows for both company-generated messaging as well as consumer-generated communications. Although the business objectives are the same, the approach is drastically different. Traditionally, marketers operated on a top-down control strategy which didn’t allow for much participation or interaction. However, consumers have learned and become so accustomed to “reading the room” that this strategy won’t work anymore. A new multi-touch point engagement strategy has been formed and the focus has shifted from interrupting the consumer to keeping them as engaged as possible.
As we look ahead, it’s clear that short-form video will play a huge role in attracting audiences and attention. TikTok, a social media app that currently hosts over 1 billion monthly active users worldwide is one of the fastest growing social platforms to exist to this date. TikTok content is much faster than other platforms such as YouTube, which primarily focuses on long-form content. Also, TikTok’s algorithm makes the platform deceptively addicting to users as it makes every video feel like it catered to you and your interests. Shockingly, even the advertisements that appear on the platform are created by other users in the community and profit off of ad clicks. Without any drastic bans, I foresee this platform continuing to grow and perhaps even overtake grandfather platforms such as YouTube very soon.
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