Nancy Hill, president and CEO of 4A’s Smartbrief, recently shared her ideas and insight on the direction that the advertising industry will take in 2011. She has seen definite economic improvements for agencies of all sizes throughout 2010, and that trend should continue into 2011. While Main Street concerns and tentative client spending commitments may continue to pose challenges for agencies, the many exciting opportunities in new media platforms and digital technologies will drive client demand for cutting-edge marketing services that only agencies can deliver.
What else is ahead for the advertising industry?
While industry regulation regarding Internet privacy has come into question, Ms. Hill attests that the advertising industry has spent the past two years developing a self-regulatory framework for the responsible treatment of consumer behavioral data. This system provides the precise levels of transparency and choice that consumers demand. She is confident that the government’s need to intervene will subside as more companies adopt the industry’s program.
For today’s tech-savvy students aspiring to a career in advertising, Ms. Hill encourages them to gain a broader view of our increasingly connected and smaller world by exploring the great cultural, literary and diverse experiences all around. Opening their eyes and their minds will provide better preparation for success in advertising and in life. She also emphasizes that the field advertising is open to all ages, offering unique and creative challenges along one of the most enriching career paths.
In addition to Ms. Hill’s projections, what do 4A’s members predict for 2011?
- Regarding the overall trend anticipated for the U.S. advertising market in 2011, 64% foresee more slow and steady growth, 22% expect spending to remain the same, and 11% predict economic growth and spending to accelerate quickly.
- 61% anticipate their companies to create jobs in 2011, while 23% don’t expect job creation, and 15% are uncertain.
- On the subject of the most critical regulatory challenge facing the ad industry in 2011, 69% are concerned about new privacy restrictions governing online media and advertising, 14% worry about eliminating or reducing the advertising tax reduction, 11% replied none of the above, and 4% fear new state taxes.
- When asked to describe their organization’s plan for social-media marketing in 2011 compared to 2010, 56% expect to make modest investments in social-media marketing, 25% plan to increase spending on social-media efforts by more than 100%, 15% won’t make any changes in their social-media marketing spending, and 3% will cut their social-media marketing budgets.
The advertising industry is looking up for 2011, filled with new opportunities and exciting technologies that will drive client demand, agency growth and industry momentum.
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Written by Michael Del Gigante