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As the Millennial generation is graduating from college and entering the workforce, finances and student debt are now a forefront issue for this age group. While the average student has $37,172 in student debt at graduation, saving every dollar is essential to financial freedom later down the road.
While many Millennials are quick to point at student debt to the sole contributor, there is also a lack of connection to consumers about their products. Millennials enjoy feeling connected and marketing firms are trying to figure out various routes to connect their consumers.
Here are some products that are lacking in the understanding and connection front.
Fabric Softener
While the title may seem self explanatory, many millennials have no idea what this product is supposed to do. If the purpose or value is not explained as clearly as possible, the potential for purchase is extremely low with this age group.
Also, brands such as Downy do not resonate with these consumers as they deliver no further value to their lives. Lastly, it is not a necessity in doing laundry, only an added bonus. With money being tight with this age group, they want to spend it only on necessities.
Golf
The sport of golf is extremely traditional, slower-paced and expensive. These three attributes do not align with this age group very effectively, resulting in a decline in revenue for some major golf brands. Also, the sport is extremely difficult to self-initiate. Many people were influenced into the sport by a family member or friend. Unless it is a group of friends hitting golf balls for an afternoon, this sport is lacking connection to the new age of adults.
With these products not aligning with the values of the new marketplace, Millennials will be quick to eliminate them because they’re unnecessary. Content marketing companies are constantly trying to figure out what these very complicated consumers are looking for in order to drive sales.
Many an advertising agency has zeroed in on what the consumer wants from major brands, and are bringing it to them through whatever means necessary.
Technology has skyrocketed in the last decade — so much so, that some marketing agencies are even looking into hiring on CAIO’s, or Chief Artificial Intelligence Officers. Yes, you read that correctly.
Concepts like artificial intelligence and machine learning are not as abstract as they once were. They’re now flowing into various aspects of the advertising world, forcing marketing agencies to keep up with the technology and successfully direct it into their business.
What Is Artificial Intelligence?
The idea of artificial intelligence (AI) is a theory and development of computer systems that are able to perform tasks that would usually require human intelligence and interaction. Some of which include visual perception, speech recognition, decision-making and language translation.
Another way to define artificial intelligence is by using the word “crazy.” It’s something that most people can’t even comprehend at this point in time.
The Next Big Title
It’s beneficial for marketing agencies to incorporate this technology because developments such as the AI dashboard allow for the agencies to know when there are unusual patterns in their metrics. In addition, some agencies are looking into how to use AI to improve efficiency of their internal processes.
Understandably, some agencies are hesitant to let a robot-like creature take over the reigns, while some agencies are more confident. For instance, one brave independent media agency in New York just hired on a new executive director of cognitive solutions, who will be in charge the agency’s work surrounding the AI-like department.
Don’t Get Left Behind
Though AI is still in it’s semi-early stages and there are currently not many, if any, positions strictly dedicated to its growing development, it will one day in the near future be worth investing in.
For marketing agencies, the creation of artificial intelligence basically means life or death. If they shy away now while the concept is still new, there will be an evolutionary divide. This means that those who didn’t jump on the AI train are left abandoned at the station, not moving forward.
Sources:
http://adage.com/article/agency-news/chief-ai-officer-big-title-media-agencies/309667/
Written by Ascari Pena
Microsoft is beginning to cut back their sales and marketing teams, which allows us to ponder as technology becomes integrated into our daily lives. In 2014, nearly 17 million workers were employed in the high-tech sector. While this number continues to skyrocket, many other sectors are either being eliminated or restructured.
As an advertising agency in Utah, we are seeing an incredible boom here in the Silicon Slopes with jobs and economic growth.
Advantages of the Tech Boom
As technologies such as self-driving cars, virtual reality and fully automated online retailers such as Amazon, there is no stop to what technology companies are going to innovate. Technology also brings alignment to the consumer, allowing them to have a much more informed purchase cycle.
For example, before smart phones, the average consumer would visit around ten car dealerships to “kick the tires” and see pricing options. Now, the average buyers visit around two dealerships because of the help of online information and resources.Technology also allows the consumer to be smarter with each dollar they spend.
A perfect example is ride-share programs. The taxi business has never been centered around the customer experience, with rude drivers and ridiculous pricing to make for a pretty unpleasant experience. From here, comes Lyft and Uber, offering a much more customer friendly experience at a much better price. Now, taxis are struggling to survive — for better or worse.
Disadvantages of The Tech Boom
While technology is great, it has come with unfavorable conditions for some. Billions of dollars are being lost in traditional mediums such as television and print advertising. With everyone ditching anything even remotely related to the word ‘traditional’, businesses are folding. Traditional television advertising, shopping malls, travel agencies, newspapers and book stores are all having to change their models drastically to keep up with the demands of a 2017 consumer.
At Fusion 360 Agency, we understand where the eyeballs are at. We know that traditional models are dying and we are the pros of digital sustenance — from content marketing to SEO. Our combination of services have allowed us to build something great, and we’re happy to see innovation as a result.
If you accessed social media at all during this past Presidential election, then your account was probably plastered with all sorts of political agendas and opinions. You know Donald Trump is constantly tweeting and everyone is either agreeing or disagreeing with what he is doing. Social media has significantly influenced the field of politics.
There is always news — always. Before the Internet, people had to wait for the news that night or the newspaper the next day to get the latest information. Now, you have news wherever and whenever you want it. Marketing agencies around the world work to keep the information flowing along with these sources of news.
The problem with that is occasional misinformation. When people check Facebook and Twitter for the latest trends, the news they pull form there isn’t always accurate.
Increased Interaction
Political polls are important and you can often find poll results on the same day. Thanks to social media, these polls have had an increased presence. Social media platforms can now report results of polls, while also allowing you to participate in polls you or your friends create.
In addition, social media now allows user to have direct interaction with candidates and elected officials. Before the age of the Internet, it was difficult to interact, let alone meet with a political official. Now, there are events that are streamed live across social media platforms where people can interact with candidates and politicians.
The Impact
Social media is still rather new. We are just seeing the beginning impacts on society. It will become more and more influential in the political realm. It will be interesting to see how it will continue to influence politics.
Social media is not only having an effect on politics, but many other things as well. Marketing agencies are no longer just doing traditional marketing. Now, they are targeting website design, SEO and more online marketing rather than traditional media outlets such as television.
Sources:
https://blog.sysomos.com/2016/10/05/social-media-affects-politics/
Written by Ascari Pena
Famous YouTube star and entrepreneur Gary Vaynerchuk of VaynerMedia states, “Speed is four billion times more important that perfection.” As technology has made our world become increasingly fast and efficient, there is room for debate on what is more important for advertising agencies. Speed or perfection?
As an advertising agency, clients want both. They want their creative to be done fast and perfectly. Unfortunately, this cannot be accomplished in almost any situation.
Speed
Being fast on a day-to-day basis is extremely important. A wise man once said “If you ain’t first, you’re last.” Thank you Talladega Nights and Ricky Bobby for the insightful knowledge. It’s extremely applicable in today’s marketplace where being first is important on many levels.
A perfect example is the New York Times. The famous newspaper is looking to eliminate copywriters to replace them with more journalists. In protest, people stood on the street with typo ridden signs to show that in the news industry, ethics and perfection are more important than speed.
Competition for business is at an all time high, and clients are demanding high speed from their agencies. With the amount of tools available for content marketing and web development, there is no reason for agencies to spend weeks on requests from clients.
Perfection
If you make a mistake large enough, it could be the very next viral meme online. With the speed that the marketplace is demanding, mistakes will be made. Whether clients are more or less forgiving, there is a fine line to be drawn for excusable and inexcusable mistakes. Quality control of content and production is essential to producing a product that has value to the marketplace.
The Balance
While both qualities are important, value and emphasis needs to be place on one or the other. The high-speed market will leave those trying to perfect every little detail in the dust. While making sure all of our work here at Fusion 360 is perfected, speed is the name of the game.
If you’re wondering how a marketing agency knows what’s going on in the news and portrays that news to you then wonder no more. An advertising agency is about doing just that: advertising. Here’s how they keep you in the know on what’s going on in your town and the world.
Clients and Communication
Marketing agencies typically do work for one or more clients. With all these clients, it is important to watch the news and stay updated on current events that could relate to one of their clients specifically. Here at Fusion 360, we have all eyes on the news so we can use events happening now and create awesome content that is relevant to our audience at that moment.
We are lucky in that we’re not only professionals at advertising why our clients are amazing, but we’re also experts at relaying that applicable information about the news and relating it back to them to make them stand out among the rest.
The Agency
All marketing firms have clients, yes, but they are also responsible for taking care of their own content and social media channels as well. Just one quick visit to Fusion 360’s social channels or blog and you will most likely not only realize how fun Fusion 360 is, but also learn something new about what has happened in Utah or the world and how advertising agencies play a role.
Blogs and Social
What many people don’t realize is that almost every big company or business that has a website also has a blog page. These blogs are not just there to add professionalism to the look of the website, but for the consumers to read and enjoy.
If you’re reading this than you obviously know about Fusion 360’s blog, which is fortunate for you because Fusion 360’s blog is stuffed full with current events and facts that you might have missed out on. Blogs are the perfect way to get questions answered that you probably didn’t even know you had. It’s as if they read your mind before the question has even come into your head. It’s exciting.
Thanks to Fusion 360 and other marketing companies, you’ll be able to show off your dazzling wit to all your close friends and they’ll envy you.
The prominence of social media has skyrocketed over the last decade. This has caused advertising agencies all over the world to step up their game and get on board the social media train.
In order to stretch your agencies advertising reach all over the world, there has to be enough social platforms to support all the hype. Read below to find out all you need to know about social media so you can be a posting pro.
You know who they are: the people at your office that will absolutely die if they don’t have the newest Apple product. Your parents who say they’ll always buy a Ford because its an American car. Your friends who hate Marvel movies but love DC movies.Your friends, family and co-workers (and more than likely you as well) are experience brand loyalty.
Brand loyalty is when a consumer will continually buy a particular service or product from one particular company because they believe it is the best fit for them. Great marketing agencies will focus on brand messaging for its clients so that those businesses can gain an audience that sticks around for the foreseeable future.