In 2017, technology has come a long way. People can pick up their phone and in a matter of seconds call their cousins on the other side of the globe. As technology continues to advance, globalization has spread new tech into developing countries. When companies like Google, and Facebook, who leverage profit by advertising through technology, see tech growth in new countries, they must alter the way they advertise to increase the amount of people they market too.
The way companies advertise is constantly changing. With the tech boom in the 2000’s, the place to advertise was online, through desktop computers, but in 2017 as technology continues to grow, cellular and mobile devices seem to be the new “thing”. Companies are now competing to see who can foreshadow trends in order to prepare for new advertisements. Currently only about 1.4 million U.S. households have a high-speed Internet hookup, but that number is expected to double this year and reach 16.6 million within five years. The creative side, which is what matters in the advertising business, can’t be fully explored until the technology has improved, and everyone has access to the internet. That technological improvement though will open up a whole new world for marketers. In 1997, the first year that marketers began to think of the Web as an advertising medium, U.S. Internet advertisers spent $940 million; a year later, that number had almost doubled, and some put it as high as $4 billion in 1999.
The LAB Miami hosted Brainfood speaker, Gaston Taratuta, an expert on digital advertising, to discuss the future of online advertisement. Taratuta created Latin America’s largest independent digital ad sales and media buying firm, IMS.
Taratuta said specifically that the next big development in the ad world is consolidation along with global spread. He said “The consumer journey has changed. There are new devices, and a multitude of apps, which calls for new ads.”
Consolidation, and global spread are two trends that must be noted. More people across the globe have access to technology, and more people are using smartphones than they are desktops. These types of trends may seem simple, but can increase a company’s global revenue exponentially. Overall, the real opportunity for the marketing industry lies in developing transactional-based models that enable consumer and client to work together more closely.
Join us at our next BrainfoodMIA next Tuesday, August 22nd 2017! We’ll be serving up Powerful Yogurt & Harmless Coconut Water will be providing the beverages as we listen in how Carlos Ramirez built his Powerful company in Miami.
As always we hope you continue to Learn Act and Build with the LAB Miami