Traditional Media is going to recognize that there are new media options for consumers that will either replace or supplement traditional media.
What determines if traditional media is replaced or simply supplemented, is not the consumers, but how traditional media adapts to the new technology that is fueling new media. Cable TV used to be new media, but now they are traditional media. When Cable TV started pumping dozens of extra channels, (and then later hundreds of channels), into consumers homes, traditional broadcast television had to make adjustments. When Radio markets swelled from 10 to 30 or more local stations, adjustments had to be made.
These adjustments that are coming will most likely result in staff reductions as automation grows, but staff expansion as we add new media options to the traditional media platforms.
Take a look at this recent study:
Monday, March 10, 2008
New Media An Important Place To Be Seen
The most recent BIGresearch Simultaneous Media Survey shows that, while traditional media still rank on top in the influence of purchases, many are declining in influence and some are showing double digit losses over the previous year. At the same time, says the study, many new media options are showing double digit growth. For example, when compared to a year ago, Instant Messaging and Blogging experienced double digit growth for purchase influence of electronics while Broadcast TV and Cable showed a double digit decline.
Not only is influence of new media growing, it is much more influential among minority groups, says the report. Influence of new media is higher for Hispanics and African Americans across all new media forms compared to all adults. Alternatively, influence of new media for Caucasians is lower than the general market for all types.
| Percent of Media Influence on Electronics and Year over Year Growth | |||||
|
| All Adults 18+ | Yr/Yr Growth | Hispanics 18+ | African Americans 18+ | Caucasians 18+ |
| New Media | |||||
| Instant Messaging (Computer) | 7.5% | 22.0% | 11.3% | 14.1% | 5.1% |
| Blogging | 6.1% | 21.5% | 9.2% | 7.8% | 4.8% |
| Web Radio | 6.2% | 14.4% | 9.2% | 11.2% | 4.2% |
| Email Advertising | 21.5% | 9.2% | 24.7% | 24.4% | 20.3% |
| Internet Advertising | 22.4% | -1.4% | 25.8% | 26.4% | 20.6% |
| Satellite Radio | 8.4% | -6.9% | 9.9% | 13.2% | 6.7% |
| Video on Cell Phone | 6.9% | -10.6% | 8.6% | 14.6% | 4.4% |
| Traditional Media |
|
|
|
|
|
| Product Placement | 13.9% | 10.2% | 19.2% | 16.7% | 12.2% |
| Direct Mail | 22.5% | 4.6% | 30.0% | 29.7% | 19.9% |
| Coupons | 23.1% | 1.6% | 25.5% | 23.4% | 21.9% |
| Yellow Pages | 7.9% | 1.5% | 8.8% | 10.5% | 6.9% |
| Radio | 19.7% | 0.8% | 26.1% | 30.3% | 15.7% |
| Read Article on Product | 34.3% | 0.6% | 30.8% | 28.4% | 36.7% |
| Instore Promotion | 27.4% | 0.5% | 28.8% | 28.6% | 26.9% |
| Word of Mouth | 42.6% | 0.0% | 42.0% | 38.3% | 44.1% |
| Outdoor Billboards | 6.7% | -0.9% | 10.4% | 10.9% | 4.8% |
| Newspaper | 21.8% | -1.2% | 22.1% | 24.8% | 21.1% |
| Magazines | 24.7% | -3.7% | 28.8% | 25.8% | 23.6% |
| Newspaper Inserts | 30.5% | -4.5% | 28.0% | 27.0% | 32.1% |
| TV/Broadcast | 27.9% | -13.9% | 31.3% | 32.7% | 26.6% |
| Cable | 18.9% | -14.4% | 22.8% | 23.1% | 17.5% |
| Source: BIGresearch, February 2008 | |||||
Gary Drenik, President of BIGresearch, concludes that "It's no longer enough for marketers to advertise only a slogan... (they) need to better understand the changing dynamics of the consumer media market and develop new marketing plans that integrate new media to replace the erosion of traditional media for influence to purchase... "
Please visit BIGresearch here for more detail.
Sphere: Related Content
Posts
No comments:
Post a Comment