It is common within every industry to try and predict the future. As such, we’ve seen a host of predictions from experts pondering on big bets and threats for 2015, from drones to online binging and of course, the evolving world of data.
However, isn’t it human nature to learn from mistakes? Identifying problems and understanding how they occurred generally helps to provide long term solutions. Therefore, can threats and challenges in fact be opportunities in disguise?
A learning curve for online video
Snackable online video has grown to become a huge part of the digital industry and of consumers’ daily routine. However, with so much video content being watched online, and with Cisco claiming it is set to account for 79 per cent of all consumer web traffic by 2017, there has been a surge of unverified traffic. This traffic is made up of bots that mimic human behaviour and are difficult to detect, ultimately decreasing the value of legitimate adverts.
This has presented a problem for brands and the industry has started to question the effectiveness of online video campaigns. As a result, we saw a host of fraud detection and verification tools pop up within the marketplace in 2014, to help identify unverified traffic. Suddenly major players, agencies, trading desks and more started partnering with the likes of Forensiq, IAS, and Nielsen.
With these tools brands can execute more effective campaigns and have better sight and control of the audience they’re reaching, using this obstacle to their advantage.
The rise of the drone
This year it is expected that the consumer drone market will surpass $102 million, a 49 per cent increase from 2014. One of the most visited areas of the Consumer Electronics Show (CES) was the new area dedicated to Unmanned Aerial Vehicles (UAVs). However, so far in 2015 we have seen a drone crash into The White House and also have had a near miss with an airliner at London’s Heathrow airport.
Drones have captured the public’s imagination but evidently come with draw backs. Drones are a prime example of how quickly an industry can move and how slowly regulation can catch up.
Drones represent one of the largest threats to safety and privacy that we’ve seen in a long time. And for increasingly less money, consumers are able to purchase sophisticated drone technology, which could lead to pure havoc.
When regulated, drones could become one of the greatest and most stimulating assets for content makers. Drones provide a fresh way to view the world around us and it couldn’t have come at a better time, with consumers demanding more and more content. The breath taking footage of the Tower of London during the Poppy Memorial, demonstrated the potential of the content.
Over the next few months, we’ll see music videos using the technology more and that will help drive mass adoption (and regulation) of the technology.
The Data Revolution
In 2014 half a billion new users joined the Web, bringing the total up to 3 billion users worldwide and this growth is unlikely to subside anytime soon. What’s more, there has been exponential growth in device use, with Ofcom recently showing that Britons spend more time on their devices than sleeping.
Ultimately, we’re producing more data, whether that’s signing up to apps or buying more online. And we’re doing it across multiple touch points. However, what is happening with this data and is there such thing as having too much? If so, how (and where) will it be stored, moreover who will have control of it?
Data, captured in the right way is extremely beneficial for brands and relinquishing data is (believe it or not) also good for the consumer. Understanding consumers’ behavioural trends will enable campaigns to be far more targeted and relevant, improving the user experience.
As technology develops storage will not be a problem, plus brands and other parties will learn to work together to leverage data to create a single view of the consumer.
The threats are opportunities for the taking
We can try and spot every threat that heads our way and quash it. However, as history has shown us and as the digital industry matures, many threats are opportunities in disguise and actually a chance to innovate.
What’s important is that brands remain agile and take a chance. To quote a well-known online TV character, Frank Underwood from House of Cards: There is but one rule – hunt or be hunted.
By Tamara Jacobs, Brand Solutions Manager at Blinkx Media.
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