Advertising has taken a 360° turn since the advent of digital marketing strategies. Gone are the days when advertising was on paper pamphlets or word of mouth, now it is digitalized, all thanks to various digital media and their immense resourcefulness to market the products in a broader horizon.
Coming to the present scenario, most of the ad commercials we come across are either on Television or other digital platforms. As most of the people largely have these devices at their disposal, it becomes easy both for the customers as well as the advertisers to reap the maximum benefit from it. Since the new year is already progressing, 2020 looks promising in terms of digital advertising.
As a brief share of each kind of medium, this is how various platforms have helped to advertise
TV – 39%
Print – 39%
Digital – 20%
Remaining by other platforms.
TV advertising remains on the top, as an unprecedented leader in advertising all thanks to it far reaches among the audiences. Though the time spent on TV has reduced., it remains one of the top mediums. The same applies to print media, but gradually its popularity is reducing too.
This can be termed as a rising star in the world of advertising, as its share has shown a considerable steady increase all over the years. It is estimated that it will cross TV in terms of advertising and surpass a growth rate of 27% in 2019 – 2020.
Digital media has always been on the verge of becoming the next big thing as there is so much scope not just for a particular industry, but all of them. Just look at the reign of food delivery apps, grocery apps, transport apps, and whatnot. All of them have just one thing in common, digital media. With the help of digital advancements, they have managed to grab a huge share of earnings is through the economy.
Imagine when there were no apps in existence? Life was not this simple and hence all this is possible only with the help of digital advertising. Digital advertising has another important component that is social media marketing. Social media has taken the advertising industry by storm as it has reached millions of people in a very short time. Here’s how to make the best use of social marketing.
These days we hear a lot about gig company or gig economy. The gig economy is nothing but an economy where companies prefer to hire short term temporary employees or independent workers for short term engagements. Example of gig economy workers include
- Part-time employees
- Independent contractors
- Project-based workers
- Temporary hires
According to a study. by the end of 2020, most of the population, i.e., 40% of the workforce will be gig employees. As the digitization is at its surmounting peak now, it becomes increasingly practical for people to freelance in whatever areas they can, and the desire of. As per the current scenario, where people do not stick to a single job, their whole life, gig economy can be seen as it’s a revolution.
Advantages of Gig Economy
- Saves infrastructure like space etc
- Affordable logistic wise
- Temporary services of clients that are too high priced to be maintained permanently.
All in all, advertising will get a facelift in the next 5 years, when digital advertising will be in the forefront, or at least neck to neck with TV, and prove to be a game-changer. With a lot of advancements, digital advertising will likely emerge as a winner amid all the other sources of advertising.