Advertisers must tread carefully and ensure the move from monologue to dialogue, in regards to customer experiences, does not become the “new shiny toy”, according to Suncorp executive Mark Reinke.
Speaking on the panel at Starcom MediaVest Group’s Media Futures 2014 Forecast this morning, Suncorp’s executive general manager indicated that while the notion wasn’t anything recent, it was a new idea “in action”.
“We’ve seen a little bit of that over the last three or four years with social… we haven’t really used with sufficient intelligence to derive a return.”
“If we overshoot, and if we go for maximum touch and maximum volume we will probably create [consumer] fatigue, and that’s not a good thing for any of us.”
Media usage and spend predictions for 2014 also saw some changes from previous years.
The “mirroring” of advertisers predicting an overall increase of 2.6% in budgets and media executives a 2.8% increase is “quite unusual”, according to Di Richardson at Starcom who presented Starcom MediaVest Group’s Media Futures 2014 Forecast this morning.
“We’ve started to see a narrowing of that gap over the years and that’s certainly the closest relationship that we’ve seen between the two in the history of the study.”
With only print media expecting to see a decline in advertising spending in 2014, with magazines dropping from -1.4% last year to -8.9% this year, mobile and online video are expected to generate the highest change for 2014.
Further findings from the research conducted from November 2013 to January 2014 saw 85% of advertisers intend to use radio, 64% of advertisers intend to use mobile (including app ads and mobile display), and 36% intend to use online affiliates.
The Starcom MediaVest Group and partner AANA presented the findings from the Futures 2014 Forecast this morning along with a panel discussion.