The pandemic has ushered in the age of mobile – but how should advertisers respond? Are digital ads the better route? Or is traditional media still king?
In a year when global ad spend has fallen by around 10%, understanding bankable ad channels are integral to making the most out of your budget.
Traditional media remains relevant
Streaming services have taken a huge chunk of audience share this year. Despite this, broadcast TV still holds the most screen time with 64% of consumers favoring broadcast TV vs its online counterpart with only 26%.
However, it’s not just the popularity of broadcast TV that makes it attractive to advertisers.
Consumers get a more emotional response from this than any other advertising platform. According to a study done by GlobalWebIndex, “TV ads are more likely to be described as diverse, memorable, funny, or entertaining and less likely to be associated with negative adjectives like intrusive or excessive.”
Email marketing does not provoke the same kind of emotional factor as broadcast TV. However, associations with “relevant, helpful and information” make it a perfect avenue to reach an older, info-hungry demographic.
Meanwhile, social media has grown as the rising star for advertisements with a 50% growth on ad spend on the platform, year-on-year. It’s associated with “personalized” – something consistent to what the Gen Z audience expects.
Looking after consumer demands from ads
Developing a detailed target audience makes the foundations of any marketing campaign. Step one includes detailing the demographics that, more often than not, includes generational profiling.
Consumers of different ages look for different things in ads.
Technology has always been rampant even before the COVID-19 pandemic hit the globe, but when the crisis struck and people were forced to stay at home, online interactions were given a whole new meaning.
The pandemic has caused the digital shift to pave its way to a mobile-first consumer economy in Southeast Asia. Instead of focusing on physical marketing, brands shifted into creating a strong video content strategy to take advantage of their potential in the digital world. Here’s why we believe that video content marketing is the next frontier in Southeast Asia (SEA).
- Videos have had the highest engagement rate among all content types
Among all the content formats posted by SEA Facebook pages, such as photos and text, videos have received the highest average engagement rates. Moreover, according to Hubspot, 54% of consumers want to see videos from brands or businesses they support.
2. YouTube can amazingly maintain user attention
A 2018 infographic from Hootsuite shows that 57% of internet users in Thailand watch online videos every day.
There’s a special relationship between Thailand and video platforms such as YouTube because of the complete attention that Thai users give to YouTube content. Google also explains that SEA has a number of YouTube enthusiasts who are inclined to online videos.
3. Locals prefer local content
When it comes to creating content, you have a better chance of attracting local fans when you create localized content that they can relate to. A study by McCann WorldGroup has found that consumers in the Asia-Pacific (APAC) trust local brands more than international brands. This can be seen in the 44% increase (from 2015 to 2019) in the number of APAC consumers claiming that it would be better if global brands disappeared.
4. Mobile takes the place of television as the first screen for video
Southeast Asia is truly a mobile-first region. When SEA was exposed to the internet, most of their users’ first experience online was Facebook and access to the internet through their mobiles. This has naturally molded the online video experience in the region, as more users spend time watching videos on their mobile devices.
5. Online video ads in the region are delivering a return on investment (ROI)
InMobi reported that SEA saw its video ad spending increase by 65% in 2020. Brands in the food and beverage and retail industries take advantage of this growth.
SEA businesses need to invest in video marketing
Online users in SEA are genuine video enthusiasts who like watching content from brands they support, which is one reason why businesses should consider making their own videos.
It’s almost unusual to find a brand or an individual with no online presence. Since both parties are likely part of the digital world, brands must take advantage of it and use video content marketing as their way of promoting their products and services.
Passive income is exactly what it sounds like — income that flows regularly without the demand of putting in a significant amount of effort. One way to do this is to sell services or products and earn money without being too keenly involved. This is great for small business owners who have limited employees and limited time to boost sales.
Now that we’re living in a global crisis, having passive income can help us work on other endeavors while still receiving ample income through our businesses. Here are three types of passive income that small business owners can have in 2021:
- Residual Passive Income
This type of income stems from assets you produce or purchase — those that allow you to continuously earn with minimal work after the initial effort. Just like earned income, residual passive income is taxed.
Examples of residual passive income: Renewals, commissions, pre-recorded online courses, stock photography royalties
2. Leveraged Income
If linear or active income is when you do the work once and get paid once for that effort, leveraged income is the opposite. With leveraged income, you do work once and get paid multiple times after that by influencing the work of others to produce frequent income for you.
Examples of leveraged income: When a writer signs with a publisher and lets them manage the sales and shipment of the books, when a photographer adds their photos to a stock photo website and later collects royalties
3. Active Leveraged Income
This type of income needs more involvement compared to leveraged income, but business owners can earn more at one time by having other people on board. Active leveraged income typically stems from a one-time event.
Examples of active leveraged income: Virtual conventions, fundraising events, seminars
Passive Income Ideas for Filipinos
Fortunately, the modern Filipino in 2021 has a lot of options for passive income. Below are some passive income ideas that you could go for:
- Invest in stocks
- Rent out a condo unit
- Start an e-commerce store
- Write blog posts or eBooks
- Create loyalty-based content
- Do peer-to-peer lending
Whichever type of passive income you go for, keep in mind that you won’t earn a million overnight. While a passive income business allows you to “earn while you sleep,” it still requires a smart setup and strategic planning.