The future is indeed uncertain, especially in the fast-paced business world that is constantly changing. This compels advertisers and marketers to work diligently to address the challenges of the same world in a new dimension. However, instead of wandering aimlessly, recently, fourth-year students from the Advertising program at Chulalongkorn University's Faculty of Communication Arts organized a trendy seminar titled “ADverTeller: Advertising Forecast”, aiming to be ahead of the curve and invite various “gurus” from the advertising agency realm to take on the role of “forecasters” to predict future advertising trends, highlighting the stars and fading stars of the industry.

Data is the Powerhouse of the Future that Must Be Cultivated Now

         The seminar opened with insights from Siwat Chaowrayong, President of the Digital Advertising Association (Thailand) or DAAT, and CEO of GroupM Thailand, who clearly stated that the rising star in the advertising industry over the next five years will be data.

         “My perspective on the Thai advertising industry over the next five years is to manage data systems, not just on the agency side but also encompassing clients and brand owners. They need to have systems for collecting and managing data to connect the existing data with advertising systems for targeting. Even for those who have been doing this for five years, there will still be much to do because the next step is to find data related to consumer behavior, purchasing, e-commerce, and various partnerships. Agencies also need to create systems for storing data to connect clients and partners with advertising systems and continuously update their knowledge,” he explained.

         For the first step in data collection, Siwat recommended selecting tools, software, and data systems that are suitable. Currently, there are many options available in different sizes and budgets. However, the key is to start now because some people have yet to begin or may have started but are not utilizing it effectively. This refers to the clients' data that has not yet been linked to advertising systems for targeting based on various dimensions, which goes beyond the past where targeting was based on demographic characteristics or behavioral data. Nowadays, data can delve deeper into purchasing behavior, media access, and even track the consumer's life journey. Additionally, those who are already skilled in data cannot stop; they must seek new data sources to connect with their existing data.”

Creativity is an Essential Secret Weapon that Must Be Present

         Meanwhile, Sutheepan Sakrawat, Senior Executive Vice President and Chief Marketing Officer of Siam Commercial Bank Public Company Limited, illustrated the future of Thai advertising beyond data management by highlighting the hot trend in the agency world, such as the mergers of global agencies with digital agencies. For instance, WPP merging with J. Walter Thompson (JWT) to form “Wunderman Thompson”, and Y&R merging with VML, while Accenture takes over Droga5. These signals reflect the demand for “creativity” from companies that excel in technology and data.

         “Even technology-centric companies need creativity. The integration of technology with art will pave the way for future success. However, beyond data and technology, managing the two tools to enhance the consumer 'experience' is crucial, especially by coordinating five aspects: 1. Making consumers discover the brand (Discover) 2. Encouraging product trials (Try) 3. Stimulating purchase decisions (Buy) with personalized promotions 4. Ensuring product usage (Use) and 5. Encouraging repeat purchases (Renew) leading to advocacy.

         This aligns with Saroj Laohasiri, Chief Marketing Officer of Rabbit Digital Group, who agrees that “data” is the trend and solution for the future. However, it is worth considering that often when data is acquired, there is uncertainty about how to leverage it for business growth.

         “I believe that data makes you do the right thing, but creativity makes you do new things. Therefore, I see the intersection of using “data” must come with “creativity”. If we rely too heavily on data, it may lock agencies into rigid thinking. Additionally, creating advertising solely based on data may result in repetitive and uniform outputs,” he noted.

         Thus, it is time to adjust our mindset on how to utilize data as a guiding light. The trend of advertising in the future, if it remains solely in the creative world, believing in gut feelings and aesthetics while ignoring the realms of technology and data, will not survive. Conversely, if one remains too entrenched in the technological world without breaking free from data constraints, they will never create new things to change behaviors, perceptions, or cultures. Ultimately, connecting these two worlds is crucial.

         “The key to finding common ground between the two is understanding humanity. Going back to the roots of marketing, which is to seek customer needs and then deliver value. As long as we view data through the lens of questioning why this data set exists, we will find answers. I believe that those who understand humanity the most will be the winners,” he concluded.

Podcast: A New Tool for Brands

         Finally, Dhamisath Ongsirivathana, founder of Sour Bangkok, an agency specifically for women, revealed that in recent years, the term “disrupt” or business disruption has become increasingly evident, including in the advertising industry. Production houses are increasingly engaging in creative work, resulting in a “blurred” image of the industry. To survive and stand out, being a specialist is crucial, especially in an era where the lines between agencies are becoming more blurred; creativity must be clear.

         Additionally, Dhamisath pointed out new channels for creating works that are gaining momentum, such as producing content through podcasts, which brands and agencies are preparing to use as a communication channel to deliver content to target consumers. Although this has been discussed before, this year marks a time when many brands are seriously engaging in it to meet the lifestyle of consumers who use two screens simultaneously, watching with their eyes and listening with their ears. Therefore, it will be interesting to see how agencies utilize podcasts to build their brands.

         The familiar business world is undergoing a transformation, and no one knows what new challenges lie ahead. It may seem daunting, but it is not insurmountable, as there are forecasters to guide and illuminate the path forward.