Mindshare: Ads to rebound on growth
Advertising expenditure is expected to grow by 7.6% this year, reaching 119 billion baht thanks to a rebound in consumer sentiment and support from government policies and events such as the World Cup, says Mindshare Thailand, a marketing and media network agency.
Mindshare managing director Pathamawan Sathaporn said total advertising expenditure will continue to grow to 119 billion baht this year.
The growth in advertising is attributed to a growing economy, a strong performance in the export sector and major infrastructure plans.
Among media outlets, TV will remain the primary media for the mass market, Mindshare said.
Ms Pathamawan said digital TV reaches 49% of TV viewers, having overtaken analogue TV since August 2016.
She said professional quality production, celebrities and content will cater to specific audiences to expand viewership, offering more choices.
News programmes are very competitive because of the variety of anchors competing for viewers, Ms Pathamawan said.
"This year, TV media will remain attractive and ad expenditures across TV [digital, analogue and cable] will reach 71 billion baht or 59.6% of industry revenue," she said.
Last year, Thailand's advertising spending fell 6% to 101 billion baht from 107 billion in 2016, due to the mourning period for the late King Bhumibol Adulyadej.
Digital content will continue to grow in usage, which is why investment has grown and mobile continues to be the star performer, Ms Pathamawan said.
"Commerce is growing faster, with choices of commerce platforms and the improving ease of payment mechanisms," she said. "We have moved from the era of e-commerce to m-commerce and have entered social commerce."
A data-driven mindset is very important to marketers and advertisers, Ms Pathamawan said.
"Where data is abundant, getting both technology and the human factors to work to maximise the use of data," she said. "Every company should have technology within the company's DNA."
But the opportunity for brands to capture consumer attention and engagement in this era is important, especially when digital media and the analysis of data can make us adapt and modify our communication and strategy to be better and faster.
Artificial intelligence, machine learning and bots are not of the future, but rather will become mainstream soon, Mindshare said.