Cord-cutting is on the rise. Although the number of people who ditched cable TV for other available options doubled in 2018 (as compared to 2017), some people still subscribe to cable TV. My household would be one such example where Spectrum cable TV packages are still going strong! However, the few households subscribing to cable TV are not enough to save the TV ads from their doom.
In fact, the TV ads are declining at a fast rate and so is the companies’ spend on these ads. Here is how the future of TV and media advertising will look like:
TV won’t Die
The decline of TV does not mean its death. In fact, marketers will now face greater challenges when deciding their ad spend and ad-related strategies. Because the viewers are now confused between cable TV and other online streaming options available to them.
The content of ads on TV is changing. Marketers agree that promoting a brand or company through TV ads has always been tough as people loathe watching ads. Hence, the shift towards online streaming apps. However, advertisers are now shifting to connected TV ads (many of them). Others are just planning to exile TV ads from their advertising plans altogether to focus on digital channels.
In short, TV ads will still air as they have a certain romance to some. But they will take a back seat to digital ads. Now the question arises that what would these TV ads look like.
TV Media Trends to Look Out for in 2020
A Medium to Drive Social Media Usage
All of us aware of the increase in social media usage. Well, if you are familiar with the world of social media, then you would not be new to the concept of ‘social TV’. For those who are not aware of the term, social TV refers to the simultaneous consumption of television and social media conversations. This results in a bigger audience that the advertisers can target. This audience is more attentive and is likely to view the content live.
Social TV enables the viewers to share what they are watching on TV with their followers on various social media platforms. For example, an NFL game maybe. Most of us want to brag about it and social TV helps us to do so. This concept increases the TV’s effectiveness. And puts before the advertisers some great challenges of gelling the two together.
Smartphones and New TV Advertising Strategies
The use of smartphones is increasing with every passing year. According to the stats, 64% of the Americans own a smartphone as opposed to 35% in 2011. An average American is also predicted to spend 2 hours and 30 minutes every day looking at his smartphone in 2020.
You might be wondering how this will affect TV advertising. The simple answer is that the advertisers will now have to come up with ad strategies that are mobile-centric. Thus, allowing them to become more specific and relevant.
DIY and More Affordable
Many advertisers and companies fear TV ads because of their expensive nature. However, you should not let this thought haunt you. Because TV ads will no longer be expensive in 2020. Another thought that scares the advertisers is that TV ads are reserved for big brands alone. Well, it’s time that you throw this thought in the trash can as well.
2020 will be the year when you will be able to put your ad before the right audience on TV within a budget that suits you. Thanks to the innovations like Spectrum Reach Ad Portal. It enables you to advertise your brand on TV through your computer at an affordable price.
Ads would Get Personal
The ads will also get more personal in nature. Addressability will become common and advertisers will be able to serve differentiated pieces of advertisements. Hence, allowing them to cater to the varying interests, likes and dislikes of individuals.
Advertising technology has been through its share of evolution and the introduction of 5G will bring even more. The upcoming innovation will improve the user experience to a great extent by offering high-speed. You can expect to get more return on your ad spends with the introduction of this technology.
TV ads are less popular now than they were before. But they are not dying. Not anytime soon. However, there is going to be a difference in the TV ads that we will see now from what we used to see earlier. The fact that many people still subscribe to Spectrum double play deals and the like shows the popularity of cable TV. So, the advertisers should not abandon this option to promote their products altogether. However, they should take steps to adopt a more modern approach.