The dynamic world of advertising is in constant flux, and staying ahead of the curve is essential for brands aiming to captivate the ever-evolving consumer base. On Tuesday, 25th of July 2023, the International School of Advertising hosted an enlightening event at the Fairview Hotel in Upperhill. The event brought together industry stalwarts, thought leaders, and marketing enthusiasts under one roof.
Luminaries from the advertising realm took centre stage, sharing their insights and experiences. The distinguished speakers of the day were a testament to the event's grandeur:
As the day progressed, a captivating panel discussion ensued, featuring Cannes Jurors and wing brands. The panellists included:
The event's focal point was an in-depth analysis titled "Half Year in Review: Unraveling Insights of the Advertising Space in 2023." The insights were segmented into four illuminating sections:
Francis Gachagua, with his astute observations, unveiled intriguing consumer trends. The past six months saw a seismic shift in spending habits, with consumers allocating their resources as follows: 30% on food, 22% on transport, 14% on utilities, and 12% on household essentials. Economic challenges prompted 52% of consumers to bolster their savings, while 48% focused on airtime usage and 42% on debt repayment. Clothing, shoes, and personal grooming remained essential, with respective spending at 27% and 23%. The information gathered was from a group of 750 individuals, with a diverse mix of 60% female and 40% male participants.
Standout brands made their mark across communication channels:
While TV and billboards often serve as customer conversion catalysts, 44% of consumers ventured down the funnel to explore individual brand social media pages, actively clicking their way toward purchases.
Barnabas Muya engaged the audience with his insightful discourse on the three pillars shaping modern media habits: Content, Context, and Connection. The rise of smartphones and the seamless accessibility of social media platforms have cast a shadow on traditional TV consumption, while radio grapples with diminished share and volume due to the surge in outdoor advertising. With consumers dedicating three and a half hours to the internet, three hours to radio, and two and three-quarters to TV, the landscape is a battleground for attention. Mobile gadgets for betting/lotteries and captivating soft drink adverts claim the lion's share of user engagement. Barnabas illuminated how the three Ps of advertising - Place, Platform, and Purpose - steer content consumption, triggering a shift towards vernacular TV and radio stations. The device in hand and data costs play pivotal roles in shaping internet media engagement.
In a volatile market climate where advertising budgets experienced a trimming, Ibrahim Wambugu brought the quintessential habits underpinning impactful communication to the forefront. Brands making tough choices on budget allocation, standing out from the norm, directing attention towards the product or service, harbouring a compelling Unique Selling Proposition (USP), evoking emotions, and fostering consistent consumer interaction are the bedrock of success. Ibrahim stressed the importance of iterative testing to unearth gaps and opportunities, ensuring brands remain agile in their quest for resonance.
Maurice Juma unlocked the realm of programmatic advertising, wielding data from Geo Kenya that spotlighted user demographics. The statistics unveiled a gender distribution of 47% male, 42% female, and 11% unspecified. In a digital age, podcast engagement soars, with users dedicating over seven hours weekly to this captivating medium. The landscape of creative ads is evolving, with in-game, survey, conversational, and augmented reality ads ascending the ranks of trending formats.
ISA's half-year review of the advertising landscape was a compelling testament to the fluidity of consumer trends. Brands that stand the test of time are those that swiftly recognize and adeptly navigate these changes, earning their place in the hearts and minds of consumers. As the curtain fell on this captivating event, the audience departed with a newfound appreciation for the multifaceted tapestry of advertising in the remarkable year 2023.
Image Source: International School of Advertising - ISA - https://www.facebook.com/photo/?fbid=716545550485537&set=pcb.716545670485525