Tuesday, June 23, 2009

Predictions About The Future Of Advertising

CM Comment: Some good ideas as we head into budgeting season.

June 16, 2009: summarized from Fast Company -- Let's start with what we know about media habits, structural changes in advertising practices, and advertising effectiveness.

Media habits
People are NOT watching less TV. Over 95% of video watching hours still occur on TV. However, many multitask and use DVRs. People are moving away from print toward digital. Time spent on social networking sites continues to explode; up 83% vs. last year according to Nielsen Online. Mobile is a main device for connecting to the Internet in many countries and is increasing here; apps and text messages bring brand messages right to the point of purchase.

Advertising practices
While Advertising spending is down because of the recession, TV, digital, and shopper marketing appear to be gaining share at the expense of radio and print (based on latest reports from TNS media). My guess is that spending on creating Web sites, communities, widgets, staff needed to participate in social media, etc., is growing but we don't really know since it isn't reported. Print is challenged, especially by classified advertising moving online. While print media now all have digital versions, they find that their audiences and ad revenues do not automatically transfer.

Structural changes
It's about integration. Media companies are putting their content on multiple platforms, making content rather than medium the organizing principle. Advertisers are creating integrated marketing teams. Advertisers and media companies are directly negotiating cross-platform relationships with deep integration of the advertiser into the program content (so people can't fast forward past the message).

Ad effectiveness
Despite people saying in surveys they don't like advertising, it still works. Perhaps the biggest surprise to some is the evidence that TV advertising works as well as ever. Even display ads and search are proven to translate into business without a click.

Read more at: http://tinyurl.com/lr5xl8

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