Media Agencies and Media Business Association of Thailand (MAAT) Summary of 6 important trends in media and advertising in 2024 Due to changes in marketing technology (MarTech) media and consumer lifestyle in brands, marketers can use it as a communication strategy to reach the target group effectively in this era.
1. Television Convergence: Integration of “TV” with electronic platforms. (OTT-Internet TV)
-In the era of powerful online media, “TV” (linear television) TV viewing according to the regular program There has been a decrease in the number of viewers. This is reflected in the percentage of TV advertising money. Which is constantly decreasing but what is television? Its notable advantage compared to other media is its ability to reach Thai households across the country well. Especially the fan group, the content producers themselves have developed more interesting content such as dramas, news and variety.
– Currently, television has expanded toOTT and Internet TV (Connected TV) platforms. Industry brands and content producers plan to use television media to be more effective in reaching target groups and have found this “Video on demand” High growth, making producers adapt to produce more “original content” on online TV platforms It is also a new communication channel in the form of Media Placement, with features that communicate with TV viewers to create engagement, leading to sales, and obtain data that will reach the set Targeted more accurately. Including the ability to provide specific content
– Existing brands and agencies bring tools to analyze media usage Media planning is increasingly being used across screens, making TV convergence the solution to reaching mass target groups and generating ROI on every platform. Including generating good sales
– TV Convergence Trends Summary: Post-Traditional TV that is more than traditional TV 1. Effective in media analysis and planning 2. Combined use of TV media across platforms 3. Create new ideas and communication innovations in TV content
2. Measurable KOLs: Measure the results of KOLs
– The role of KOLs has changed. From the beginning, I was an influencer and responsible for recommending products to target consumer groups. Therefore the measurement mainly looks at participation numbers. But today, KOLs play the role of “markers” who can complete every step of marketing (full-funnel marketing) from creating awareness to closing sales.
– Content creation by KOLs must be creative to create entertainment and sell products as well, it can be seen that KOLs in this era are creating content to introduce products in many formats. They both sell in a light-hearted way, for example P'Jung-Callan does branded content on the show, such as a shot of picking up a mobile phone to take a photo. Or a medium format sunscreen app, for example FAROSE, “Welder” takes sponsored products to create content and adds creative entertainment to make it interesting, and a live sales format like a Chinese KOL that gives a live demonstration to sell things without talking and giving advice. Pitch products quickly but create a viral trend to grab people's interest and sell 100 million baht worth of products at a time.
– Summary of the trend for measurable KOLs: Beyond Impact is 1. Using tools to help plan media and measure KOLs further 2. The platform will have tools to support brands in using KOLs, such as the TikTok Creator Marketplace, which has a dashboard to enter and choose KOLs Creators who are right for the products and can measure sales results
3. Sports obsession: General sports content.
– The year 2024 is considered the year of sports. Which should be especially monitored and since there will be many international sporting events, such as the 2024 Olympic Games in France, there will be many new sporting competitions this year. Leading to an increase in audience base, the European Football Championship Euro 2024 in Germany, Women's Volleyball Nations League (VNL) 2024 hosted by Thailand. Therefore, this year there will be an increase in the trend of watching sports.
– Sports trends this year Marketers and brands should exploit it as a marketing opportunity, whether it is sponsorship or promotional campaigns. Follow the cheering trend for different sports programs.
– Nowadays, there are famous athletes playing the role of KOLs who can connect with a wider audience. And it's not just sports fans, like Phio Kulot Wititsane, a badminton player. There are many brands available as endorsers to create awareness. In this day and age, there are many brands that have more opportunities to sponsor athletes. Not just healthy products like fast food.
– National team athletes also have fan bases abroad that can help build brand awareness abroad.
Another sport that is still growing in popularity is e-sports, and after 2023 it will be a sport that competes in the Asian Games. He is now certified as a professional and as a result, there are more players and viewers, allowing brands to reach an eSports audience of over 8.8 million in Thailand. There is also the opportunity to reach over 40 million gamers in Thailand, starting with eSports competition sponsor, Game Caster.
– Sports Mania Trend Summary: Beyond Racing: 1. Sports are more than just competitions 2. Brands must keep an eye on big sports and sports that matter to viewers in order to create authentic content to engage with consumers who watch sports. 3. Catch up with the trend of eSports with an ever-growing fan base. 4. Use Sport Fandom strategy through KOLs to reach audiences in Thailand and abroad.
4.LGBTQ+: sexual diversity
– Hot trend: LGBTQ+ continues to attract attention. One important step in Thailand is that the House of Representatives passed the Marriage Equality Act. END Therefore, it is a widely followed issue in Thailand and abroad. Thailand is currently viewed as LGBT-friendly at 54%, higher than the global average of 50%. Therefore, if the House of Representatives passes the Marriage Equality Bill in the future and it becomes law, Thailand will also receive more attention from LGBTQ+ groups and people who value equality.
From a brand perspective, marketers and advertisers may view the LGBTQ+ group as a niche market, as there are approximately 7 million people in Thailand, but there are 20 groups that say they agree with gender equality and are willing to support LGBTQ+ people. Million people, a new generation that will grow to become an important purchasing power for the brand in the future.
– Tourism Authority of Thailand in Thailand Promote tourism to the LGBTQ+ group because they are a group with high purchasing power. There are Chinese and foreign tourists. They mentioned that they planned to travel to Thailand during June during Pride Month because Thailand is open to gender diversity. This is a good opportunity for brands. Organizing activities to support to create brand awareness among foreigners
– Through consumer insights collected by Wisesight during Pride Month, it turns out that consumers want brands to have events supporting the LGBTQ+ community every time, not just during Pride Month. Equality can happen every day. It's an opportunity for brands to talk about diversity and gender equality in a bold and authentic way, in every moment.
– Summary of LGBTQ+ Trends: Beyond Boundaries: 1. The LGBTQ+ group is not a specific group. Because there are a lot of people who support equality 2. Look at the opportunity to penetrate foreign customers. To expand the brand's customer base 3. Support the concept of LGBTQ+ equality at every moment.
5. Artificial Intelligence for Marketing: Artificial Intelligence for Marketing
– Marketing Technology (MarTech), Chat GPT and AI are not far away anymore. It is relevant to people's daily lives, there are many marketing AI tools that help increase the efficiency of communication and marketing.
In marketing communications, artificial intelligence helps in every step of the marketing process (Full Funnel Marketing), from creating awareness to sales, and last year, many brands began using artificial intelligence to create content. Whether it's planning an advertising story, creating an advertising image, creating content that can engage with a large number of customers. Today, there are many AI tools available to help improve communication and advertising.
In addition, AI also helps in targeting and personalized marketing, including conversions to offer products to specific customers according to their interests. Able to close sales but this situation has increased competition. Since the cost of using AI is not high, everyone can access it.
– Summary of Marketing AI Trends: Beyond Technology: 1. There are many AI tools to help increase business efficiency. So you must be aware of and leverage AI in Full Funnel Marketing 2. Use AI to help nurture creativity and innovation. Create new content and this has the opportunity to be a first mover in the market 3. Although AI is being used more in business, the human touch is still an important thing that makes a difference. Because the AI creator is a human, workers must develop their own skills all the time and work with the AI.
6. The rise of OOH commerce: Out-of-home advertising has become popular. Generate traffic to close sales
– Last year, it was clear that out-of-home (OOH) media was strong, especially 3D technology brands with which many brands were interested in creating 3D content, and continued to grow from the era of AR/VR, which is the communication that makes consumers interact With more brands
– OOH technology and digital billboards make it possible to add more creative ideas to advertising work and are therefore a means that can attract people's attention by more than 60% compared to traditional billboards (static banners).
– Using automated OOH with data to help plan media, select locations, and select target groups that align with products and brands. Content and campaigns can be modified in real-time based on customer feedback. Therefore, it is a medium that creates traffic for customers and can close sales. (Example in foreign countries helps generate traffic, closes sales by 30% and can measure ROI.
– Summary of Emerging Trends in Out-of-Home: Beyond the Vision: 1. Using more technology and innovation in out-of-home media 2. Using data to plan media 3. Pull customer traffic offline to online and more stores
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