How ID agencies can do better in 2024, according to adland leaders

2023 certainly shook up the advertising industry with immense technological developments and evolutions in the media landscape. As we enter 2024, the industry is poised to boom even more. 

For example, the influencer advertising industry is poised to prosper after growing its revenue by 17% to over US$30 billion in 2023, according to recent studies.

While some consumers have started to lose trust in influencers, 2024 market projections suggest that global influencer ad spending is expected to jump by 13% to hit US$35 billion in 2024. This comes as brands and companies continue to pour billions into influencer advertising.

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Beyond influencer advertising, we are also likely going to see greater gen AI usage in the space. It was found by editorial and research strategy company Media Collateral that 74% of communications professionals across the APAC region have integrated the technology into their work.

When it comes to how communications professionals are utilising Gen AI, 75% say that they it is used in content generation, ideation and optimisation while 37% of the industry also use the technology for strategy and planning. Other usage cases include automated data summarisation, audience sentiment analysis and predictive content targeting to name a few.

As we welcome 2024, MARKETING-INTERACTIVE spoke to five leaders in the advertising industry to find out how the industry can do better and successfully tackle 2024.

1. Sandru Emil, co-founder, Ambilhati

2023 has seen social and corporate responsibility coming at the forefront amongst the rising popularity around the topic of sustainability and the war in Gaza.

Sandru Emil, co-founder of Ambilhati, wants to see more brands being socially responsible and responsive to the world around them in 2024. He said:

"I think we can and should do better in prioritizing transparency, honesty and integrity in our brand and campaign. This includes avoiding the spread of misinformation, misleading tactics, or even hidden agenda that promotes negativity," Emil said, adding:

"Brands should stand for something, be socially responsible in their practices, and not tone deaf to current situations."

Emil believes that taking a stand is a genuine way to build trust and meaningful connections with consumers.

2. Nabyl Farizi, creative director, Katch

"We should infuse more happiness into advertising," said Nabyl Farizi, creative director at Katch. 

Farizi feels that advertising needs to be more happiness-infused, especially in an era where consumers crave an uplifting touch of joy. 

"This can manifest in entertaining campaigns or work outputs, the connection between agency and brand team, and even radiate through the work environment," he said. 

3. Srinivas Gattamneni, chief executive officer, ADA Asia

"We need to see a well-executed full-funnel strategy in 2024," said Srinivas Gattamneni, chief executive officer at ADA Asia.

For 2024, Gattamneni wants to see a pivotal shift in advertising where a new approach - a well-executed full-funnel strategy - will be essential to drive growth, spark innovation, build enduring customer loyalty and tackle the return of investment (ROI) blind spot. 

It's about being intricately involved at every touchpoint of the customer journey, aligning advertising efforts seamlessly with sales to boost conversions.

The gamechanger, according to the CEO, is the adoption of data and AI-driven personalisation that can craft experiences that resonate deeply with individual customers. 

"By embracing this approach, brands are set to not only capture attention but foster lasting relationships and loyalty, reshaping the way they connect with their audience.”

4. Samir Gupte, chief executive officer, VML Indonesia

Noting that advertisers are in the age of first-party data, performance marketing and an "obligatory use of AI", Gupte asserts that there has been a significant emphasis on lower funnel tactics. 

With that, he thinks advertisers need to harness the incredible power of creativity in 2024. 

"We need to harness the power that creativity holds in building long-term brands and move beyond a narrow focus of short-term metrics," said Gupte. 

Our focus should be on creating connected experiences across the entire funnel and reinforcing strong brand fundamentals.

Gupte opined that the marriage of precise data and the magic of creativity will change how people feel and act. This in turn will help them form long-term bonds with the brand. 

5. Angel Roberty, co-founder, AdsON Asia 

In a world where creating an advertisement transcends merely adhering to viral trends, Angel Roberty, co-founder at AdsON Asia, believes there will be a return to the fundamental essence of advertising: revolving around understanding human problems and needs. 

"A more effective approach is gaining a profound comprehension of the target audience's needs and challenges, and subsequently integrating this insight into the advertising material," said Roberty.

She added that this approach prioritises the human experience as the foundation of advertising, placing greater emphasis on context, storytelling, and meaningful insights rather than blindly following transient trends.

Ultimately, Roberty said that the core of advertising should be rooted in human behaviour rather than the fleeting allure of current viral phenomena. 

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