As the world heads into 2021 with a mix of optimism and trepidation, the team at Kite Hill is looking ahead, peeking around corners and into the future. To firmly close the book on a year we’ll not soon forget (but sometimes really want to), we recently shared some trends that we envision will significantly inform the technology and media landscapes with invited clients and friends of the firm. The focus? How will these trends shape media coverage and captivate the business news media who chronicle these industries? And how can subject matter experts contribute their points of view on these topics as thought leaders?
At this writing, we can expect that the pandemic and the distribution of a vaccine, as well as the incoming administration led by President-Elect Joe Biden, will dominate general news headlines. But drill down a layer to the business landscape, and we believe there are five macro topics that will dominate in technology business media reporting:
#1 Continuing Enforcement of Big Tech and Privacy
It’s been rumored that the new Administration, led by Vice President-Elect Kamala Harris (whose home state of California established its own privacy act that is the leading US privacy yardstick in the US), may establish a consumer privacy agency at the Federal level. In addition, antitrust and continued scrutiny of Big Tech by Congress and regulatory bodies could lead to some profound changes in how marketers and content companies do business.
#2 Consumers Will Call The Shots
We think consumers -- increasingly in the driver’s seat -- will continue to insist that businesses and brands practice meaningful corporate social responsibility (CSR) in addition to a bottom-line focus. CSR is no longer about warm and fuzzy corporate optics. It’s not a Q3 2020 fad. A consumer-led marketplace is now table stakes and needs to be built into the bench of any enduring business structure.
#3 New Platforms Will Emerge
In 2021, the so-called Google/Facebook duopoly will continue to dominate consumers’ attention and marketer’s dollars. But given increased regulation over privacy and antitrust (see #1) new platforms are likely to emerge: TikTok? Triller? A platform that will rise from Quibi’s ashes? Something that doesn’t yet exist? It’s a subject to watch and we believe media will play a role in anointing the new platforms that will grab society’s attention and wallets.
#4 Changes in Advertising
The ad industry is on the precipice of a big change with the demise of third-party cookies and other identity marketers used since the inception of digital. Marketers have long relied on these for reaching consumers with relevant ads and measuring the success of campaigns. 2021 will be focused on devising new strategies, which will be centered on first-party data, as well as second-party and third-party data sources and new identity technologies. Other developments include the emergence of retail media as a new subset for marketers to consider as part of the media mix as well as social commerce channels.
#5 Fewer Players, Rising Valuations
Current investor appetite for IPOs, mergers, and acquisitions in the technology sector is expected to continue well into 2021, so keep those seatbelts fastened. As if the uncertainty that was 2020 wasn’t enough inspiration for businesses to build more agility into communications plans, the time is now to *integrate agility into marketing organizations. Expect unexpected, big deals to grab headlines (and potentially throw a wrench into your own launch big Tuesday plans on any particular week). Expect media properties themselves to continue to consolidate and inspire more journalists to hang up their own brand shingle via platforms like Substack.
Ultimately, we recommend factoring in some of the following strategies into communications programs heading into 2021:
Be Purpose-Forward, Not Performative: Our culture, the business community, and the media who cover it will continue to throw a spotlight on company culture and people-first organizations. Expectations will be for companies to launch or pivot programs to ensure they have real, measurable impact. Adding a #hashtag to your social and calling it a day is not enough and, in fact, may backfire.
Be Data-Driven: Media are even more hungry for data to demonstrate trends. To adapt an old adage, what gets measured gets covered. Organizations that can pull, distill, and distribute data for earned media will be well-positioned in the years ahead. Not sure how? We can help.
Share Expertise via Thought Leadership: All these forces are likely to drive uncertainty and build appetite for subject matter experts who can explain the complex and unpack issues with actionable insights. Build in resources to ensure your business can crank out high quality and timely thought leadership content to fill the void.
Be Agile. Adopt a more nimble workstyle and planning. *Kite Hill PR will be launching workshops in the months ahead to show you how it’s done!
A full recording of Kite Hill PR’s 2021 Trends presentation is here.
- Jeanne Meyer, Chief Client Officer