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The future of brand transparency

2017 was a year as brutal as they come, where no brand (or person) was safe from the public eye. Like an iceberg, what you see is only the beginning. So, what can we expect from the year that follows? A ‘new day on the horizon’, as promised by Oprah herself? Or more of the same? We look to the Interactive Advertising Bureau (IAB), the leading trade association for online advertising within Australia, for their predictions. With years of industry experience and a passion for digitization in marketing and business strategy, CEO Vijay Solanki leads the IAB’s vision of simplifying and inspiring trust within the digital advertising sphere. He recently shared his thoughts via Mumbrella – here’s a quick summary.

Consumers in the driver’s seat

Smartphones, smartphones, smartphones. Where would we be without them? Probably actually showing up to places on time, as there would be no way to contact the other person with the classic ‘traffic was bad, sorry!’ text. Nonetheless, with consumers increasingly attached to their smartphones and finding new ways to interact with brands, digital will be an even bigger part of the conversation in reshaping brand campaigns and marketing plans. Accordingly, consumers will have even stronger power in how they interact with a brand from the bottom up, which will force the industry to reach them in a ‘common language’. Without being relatable and meeting the needs of target markets, a brand is unlikely to cut through the (very loud) noise.

More technology, more!

As technology further progresses, brands will be forced to become even more transparent in their processes. With globalisation and brand competition at its peak, transparency in the digital supply chain will be a major point of differentiation. As we settle into this digital revolution, technology will also progress in keeping brands and consumers protected, with new developments in fraud prevention.

Record that, please

Measurement is also going to grow in importance, in order to promote brand transparency and sustain consumer trust. A greater focus on analysing data collected will help the industry learn faster, become better at meeting consumer needs and tap into profitable insights.

Consolidation

An eventual stage in every life cycle, the digital industry will continue to consolidate, with more mergers and acquisitions likely to occur. Our world is moving at a pace like we’ve never seen, and this industry is not for the faint-hearted. Much like natural selection and evolution – it’s survival of the fittest.

Here at Iceberg we’re looking forward to what this year has to offer, but we’re not holding our breath on driverless cars and a cashless economy just yet. We’d settle for less traffic.

Read Vijay’s article: ‘The state of transparency in 2018: We’re in for a bumpy ride’

Photography by Lauren Turner.