Hi all, The Business Blog Myster here,
I was reading an article earlier today by David Ingram about the corporate giants; Alphabet Inc. (The company who owns Google and YouTube) and Facebook Inc. who are dominating the digital advertising market, with there being no other competition that can even come close to their digital advertisement market share.
Ingram raised a point about the digital advertising market becoming over saturated, which got me thinking. It really is, whether we go on Facebook, Instagram or other forms of social media, we are bombarded with advertisements. These are advertisements not just from the large companies but smaller local businesses as well. Everyone wants to take advantage of this advertising platform.
The Australian Census on social media usage for 2016 found that for large businesses, up to 79% of them, are making use of social media and almost 50% for small businesses. Once all businesses are using social media and the growth for digital advertising decreases, what will be the next advertising platform? Or do you think digital advertising will simply evolve into something else?
Let me know your thoughts in the comments below.
TBBM Signing Off.
The Blog Myster 
Hi!
Interesting analysis and good question.
It’s always hard to predict the future, but I’ve read some articles that might hold some truth in them.
This article (http://fortune.com/2017/07/28/google-facebook-digital-advertising/?iid=sr-link1) talks about he rise of video.
Another new development is Virtual Reality, and apparently Google is already developing advertisements for this upcoming platform (http://fortune.com/2017/06/28/google-virtual-reality-advertising/?iid=sr-link2).
Overall, I believe digital marketing won’t be dead soon, I think it will evolve together with new technologies that will be invented. But we’ll have to see and wait what these will be of course. 🙂
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Hi Lynn,
Yes the rise of video is definitely a potential path for digital marketing in the future. If you look at Facebook they have already introduced 360 degree videos taking advantage of smartphone and early VR technology. Once virtual reality and augmented reality become more mainstream and accessible I think it will absolutely be a new platform for digital marketing 🙂
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Hi The Blog Myster,
I 100% agree Facebook are one of the corporate giants who are dominating the digital advertising market, but it also makes me think that it wasn’t that long ago that Facebook didn’t exist (13 years maxiumum?).
Do you think there will be another platform that comes in to take its place in the next 15 years? Or do you think Facebook will continue to grow and dominate?
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Its a very hard question to answer Alex. Its a hard thing to predict, looking at Facebook appearing and dominating MSN as the main social platform or Apple over taking Nokia and Blackberry, its definitely possible for a new platform to rise and take Facebook’s place.
Other social media sites such as Instagram and Twitter have had a lot of success but what they offer is sort of a refined feature the Facebook already offers.
I think for a platform to overtake Facebook they would need to create a completely new platform that changes the way we socialise 🙂
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Hi the Blog Myster
I think that until there is the revolutionary new form of technology that replaces social media and the internet, like what the internet did to TV, that we will likely just see digital advertising follow a similar trajectory as TV advertising. With companies trying to find new ways to gain attention from customers using the same types of advertising their competitors are capable of and people reaching the same level of disinterest with digital as we currently have with TV.
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I agree, the technology would have to be sufficiently advanced and innovative to have the same impact on consumers that the introduction of the internet had.
Do you think virtual reality has the potential to be that innovative technology?
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Hi the Blog Master,
I have read similar articles to this one, but you do raise really interesting points. I have looked over an article that talks about how digital marketing and advertising is tapping into Virtual Reality technology, you might want to have a read if it interests you. Great blog by the way.
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Thanks for the comment. Yes virtual reality is definitely a technology we should keep an eye on, a lot points towards that as the next mainstream way we may consume information:)
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Hi, first off, amazing blog. Second, i do agree that advertising on social media has significant advantages for Medium – Small companies BECAUSE they do not have as much revenue as compared to huge corporations. The idea of advertising is to create brand awareness and utilising Facebook and other social media platforms are means to target consumers globally at a cheaper rate as compared to advertising it globally through TV advertisement.
Though leveraging digital media is a necessity in order to survive in today’s competition i do think that some organisations are able to gain competitive advantage if they exploit areas such as augmented reality (AR). I have written a post about how organisations are utilising AR in order to create competitive advantage and survive in the world. Do take a look and tell me what you think:
https://themarketoday.wordpress.com/
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Thanks for the comment Hong. Yes, i also believe social media is a great benefit to small and medium businesses, especially since it is the larger businesses that all seem to have an online presence. As a small business, simply having social media can already be an advantage if competitors do no use those platforms.
Its definitely an interesting topic, the idea that virtual reality and augmented reality will immerse us i. The digital world but also give businesses new ways to reach customers.
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