WTF? It’s an acronym invasion.
AI, AR, VR, DSP, OTT, RTB, ROS, NPS, IoT and the CMO favorite, ROAS have taken over marketing vernacular.
Is it just me, or is advertising getting more complicated? Now, acronyms like PPC and CPM seem like old news. It’s enough to make us agency veterans say WTF?! But I have to admit, I’m pretty excited. Our toolbox for connecting with consumers may be forcing us to learn a new language, but it’s also enabling new ways to generate more relevant, more impactful messaging.
Don’t get me wrong, these are not ideas; these are tools. Ideas are still the power that drive real results. But the variety of ways we can propagate ideas has expanded exponentially. Data and technology have given us so many ways to increase ROI. And in this particular case, I’m not just talking Return on Investment, I’m talking about Return On Idea.
It’s true that a big-enough idea can take on a life of its own. But today, the ability to amplify an idea to the right audience at the right time in the right channel has exploded. What used to be a scattershot approach is now like guided marketing missiles directed at audiences most likely to be influenced.
While we’re on the subject of connecting with consumers, AR and VR are now working their way into agency solutions—and vernacular—and proving their potential for generating incredible brand experiences. People can now interact with brands in ways they never dreamed possible. Imagine walking around a hologram of the new Porsche you have your eye on. Or in Volvo’s case, you can take a VR test drive right at home:
Progressive created a way to engage consumers at a national boat show by creating a VR experience that allowed trade show attendees the chance to compete with others in a boat race that had participants yelling OMG!
And why bother going to the store? Nike lets you scan your feet using AR for the perfect fit:
Every day the list is getting longer. TBH, it’s a little mind boggling. But IMHO, we’ve just STS.