In Marketing, there is a war for attention. It’s the only thing that matters. Attention, not impressions. - @GaryVee
What this means for brands, agencies, & publishers is that attention span is more scarce than ever. Consumers today are consuming content in 140 characters and video content in less than 15 seconds - all at the speed of Twitter. A study by Microsoft revealed that the average human attention span has shrunk from 12 seconds in the year 2000 to 8 seconds today. This means advertisers would need to deliver their message in a memorable way within 8 seconds. Imagine trying to condense a 30 second TV ad into 8 seconds? This trend cannot be ignored and puts pressure on the creative need to adapt their approach to tell the brand’s narrative across multiple channels with a variety of formats.
There is a massive shift in the way consume traditional advertising and the rise of brand-consumer engagement has been noted. No longer is it acceptable for brands to push advertising to consumers Brands need to think about creating meaningful experiences and connections with their consumers. Thinkbox in the UK reported that the millennial demographic (Aged 16 - 24) watch 20% less Live TV compared to all other individuals. Which means that 20% of traditional ad spend is being wasted on traditional TV. when trying to reach these consumers. Brands need to think intelligently about how they can harness the power of all mediums to create engagement and meaningful experiences.
Mobile is at the centre of how we consume media, with 1 in 4 minutes of all media consumption spent on mobile. eMarketer reported that the time spent on mobile has shown a significant growth from 15% in 2013 to 29% in 2016. Which means the second screen is soon to become the first screen and businesses would need to think about developing their campaigns for mobile before other platforms.
In conclusion, marketers would need to rethink how they will adapt in this new marketing environment, and how best to adapt from a monologue to a dialogue with customers. The challenge is also there for media platforms and how best they’ll support marketers in creating high impact advertising channels that captivate an audience within 8 seconds or less.