Advertising Week 2018 Recap

Advertising Week 2018 Recap

Advertising Week is a worldwide gathering of marketing, advertising, technology, and brand professionals. This New York event occurred in early October and features some of the industry’s brightest minds, organized networking, and world-class entertainment. There are panels, seminars, and workshops that cover everything going on within the industry ranging from hot topics and leadership, to changes in the consumer climate.

This one-of-a-kind event yields strong attendance from marketing professionals seeking to stay up to date with the advertising industry and what their brands should be focusing on going forward.

What do you need to know about Ad Week 2018? Well, let’s paint the picture of the present-day consumer:

  • 47% of adults 22-45 years old can’t be reached via traditional TV advertising, with a third of young households not subscribing to traditional TV [Pandora]
  • Women account for $7 trillion in spending and make or influence 85% of all consumer purchases [Shing]
  • Consumers want to hold the power to choose rather than be targeted
  • Podcasts garner 73 million listeners monthly [Pandora]
  • More homes than ever are equipped with smart speakers and connected TV [Pandora]
  • Americans spend 30 minutes surfing the web daily compared to 3.5 hours in-app daily [Gudai]

Audio, Advertising, Authenticity, & Interactivity

  1. Brands have neglected audio as a sonic and voice strategy to stand out in an oversaturated market
    • Audio is an integral part of authenticity. Brands should be asking themselves “What does our brand sound like?”
  2. The adoption of household smart speakers, like Amazon Alexa and Google Home, has tripled in the past year
    • 90% of users use their smart speakers occasionally with 30% replacing time spent watching TV with smart speaker use
  3. Podcasts are becoming an efficient platform to advertise on
    • Brands should align with podcasts with a similar voice and audiences to authentically share their brand story
  4. Influencers are evolving – transitioning from being aspirational to approachable (Theresa Braun)
    • Expect Instagram TV to explode in the future through the combination of influencer and online video to drive interactivity and engagement to niche audiences

Diversity & Representation

  1. Representation is crucial internally to ensure underrepresented voices are heard
    • Your brand should be equipped internally to appreciate, discuss and debate all angles externally authentically
  2. Diversity is more than just workforce representation across identity, ethnicity and gender
    • It’s about creating an inclusive environment that respects diversity of voice and thought
    • Brands must embrace consumers’ point of view with honesty and humility to recognize people are multifaceted beings that deserve to be represented as such

Data, Content, & Technology

  1. Brands should continue to move toward tactics which provide data on the audience
    • Data-driven brands can inspire storytelling that resonates while allows brands to optimize and stay in touch with what consumers wants from them at all times
  2. Brands should seek ways to reinvent traditional ways to reach consumers through technology
    • The future of OOH is digital. Digital OOH can deliver insights about the consumer behavior and open tremendous advertising possibilities
  3. Ads can be personalized and placed for maximum efficiency for the consumer
    • DOOH can improve efficiency by utilizing proximity, relevancy to real-world surroundings, and content based on the consumer in front of the ad


Sources
https://www.linkedin.com/pulse/top-10-takeaways-from-adweek-2018-jonathan-gudai/
http://360.advertisingweek.com/shingys-5-takeaways-from-advertising-week-new-york/
https://www.marketingdive.com/news/4-takeaways-on-video-from-advertising-week/539163/
http://360.advertisingweek.com/lessons-learned-from-advertising-week-2018/
https://www.pandoraforbrands.com/article/top-audio-takeaways-from-adweek-nyc-2018