In order to forecast advertising trends, you must take a close look at the demand for products and services in a particular market, scrutinize that market’s current economy and closely inspect the most recent trends prevailing in that market. If conducting an international advertising analysis, be sure to study global economies, too. While surveying the advertising industry, be sure to include new media and mobile advertising, as well as print advertising and traditional electronic media. You can forecast advertising trends by forecasting economic trends, as both are affected by one another. The annual growth or decline of individual markets also correlates to the advertising trends in each of those markets.
You can expect that markets with growing economies will also experience advertising and sales growth. In areas where economies are weak, the same will likely be true for that area's potential for advertising growth. Essentially, when forecasting advertising trends, it is important to first understand that sale revenues will rise and fall according to the strength or weakness of an individual economy, since consumer activity is strongly related to economies more so than actual advertising budgets.
When forecasting advertising trends, do not forget to factor Internet advertising into your analysis, as well. This advertising medium should apply to national as well as international trends since it has the potential to impact each. Specifically, the most current social network trends must also be included in this analysis.
Other past data that should be studied includes the seasonal patterns that impacted the success or failure of previous advertising campaigns. When attempting to predict advertising trends, however, it is important to look beyond the most recent seasonal patterns and include relevant patterns from several years prior. Note any variables that may have influenced drastic changes in these patterns, such as political upheavals, natural disasters or other unexpected changes that may have manipulated a change in patterns. Compare this data to the current markets you are forecasting for and consider the likelihood of any possible disturbances.
To properly forecast advertising trends, the demand for a product or service in an individual market must also be analyzed. Specifically, the spending power within key customer demographics must be considered, as well as spending behavior. In order to get an accurate feel for the precise demand for a new product, you may find it worthwhile to conduct more detailed market research, such as focus groups, before attempting to finalize a forecast of advertising trends.
