A picture is worth ten thousand words and this picture can be worth millions of dollars for those companies that take the lead and address this trend head on. Marketing and Advertising was dramatically changed by the Web and now the Web has gone mobile. This is more visible and predominant among Hispanics and African-Americans as per the above graph.
Innovation doesn’t stop there. Several marketing tools and mediums have been touched by the digital hand. Take a look at the current state of media: magazines, newspapers radio and even TV have seen declines in readership and audiences in the last few years. Those audiences have moved online.
The commonly used TV spot has also been threaten. First attack came in the form of Digital Video Recorders (DVR) that allowed users to skip over commercials and more recently via branded content as brands develop new methods of engagement on the new social media platforms.
Technology will continue to improve and with that we will have smart phones that take more and more of the computer usage from home to the streets and wherever we go. That opens a world of opportunity for those marketers and entrepreneurs that are able to bring solutions to the challenges and opportunities presented by the mobile consumer.
Take a look at this article from the Pew Research Center on mobile and Hispanics. http://bit.ly/10ufLw0
The theory of evolution doesn’t only apply to live species like humans, animals and plants. Industries are also touched by evolution and need to adapt to the changing environment. The media and advertising industries are not immune. I have been following media and advertising for over 10 years and have seen them go though many changes. Those changes were usually the result of a new technology. Perhaps, one the most sweeping change is taking place now and it’s the result of the fast evolving internet related innovations.
Five years ago, the term RTB (Real Time Buy) was not part of the media and advertising lingo. Today, it’s a reality and the way many agencies are buying their online media and in the near future all media. Just as the name of this blog, RTB stands at the intersection of technology, media and advertising. This is a reminder that more changes will take place and new technologies will become part of the day-to-day business in media and advertising. The changes will require a new set of skills and knowledge and a new generation will take over the positions that individuals from legacy media will vacate.
There is more to come and at a faster pace. The innovation on technology brings us new media formats and with that native advertising. Not all media formats will survive but the ones that make it will become significant parts of our lives just like Facebook has done it. The current trends tell us a bit of what is to come that that is just a small part. This report from e-Marketer tells us about the use of online video by top advertisers and it’s an indicator of a shifting tide and with it budgets from traditional media to digital. http://www.emarketer.com/Article/Advertisers-Deploy-Optimize-Video-Content/1009651
Mobile, online video and social are the top contenders. What do you think are other media and technology plays that will affect media and advertising in the future?
This press release from comScore provides a strong case for the use of additional metrics when measuring results for an online campaign. They joined forces with Pretarget and used information from 18 advertisers to determine what metrics should be considered and their contribution to conversions. Their recommendation is to look beyond just a click. Read more http://bit.ly/HZeeXG
By Steve Olenski
Findings from a recently released report show that online ads appearing “above the fold” are nearly seven times more effective at generating a click through than those appearing “below the fold” and that the more times someone sees an ad the more likely they are to click through and take action.
The report, issued by Casale Media, was based on their analysis of nearly two billion ad impressions which were generated during the 1Q 2011. Titled “The Link Between Ad Placement & Performance,” the report found…
Much like the age old real estate axiom, it’s all about location, location, location. Read more here http://bit.ly/oLThl9
The City As Metaphor: Marketing To The American Multi-Culture
by Alain Groenendaal,
For as long as there have been cities, they have been maligned as soulless vortexes that pollute and overwhelm, irresistibly dragging innocents towards them, sucking up their aspirations and hopes when they get there. The cities of the Old Testament — Babylon, Gomorrah — were places you desperately wanted to avoid rather than go visit. Dante even located his Inferno below the city of Jerusalem: one funnel-like, ever more degrading series of rings from which people never escaped, condemned to repeat their sins without hope of breaking the cycle. In the 20th century, the city became the place where runaways were lost, old people abandoned, and everybody in between stressed beyond endurance. Read more: http://bit.ly/iggErf
Regardless of the medium, need creativity and engagement.
Americans Ignore Internet Ads Far More Than TV. http://bit.ly/hL8dgV
The importance of outdoor media is highlighted in this article. Billboards were the main vehicle for OOH media till recent years but as technology evolved, so did OOH and we saw the birth of digital out of home media (DOOH).
According to Wikipedia, Digital signage is a form of electronic display that shows information, advertising and other messages. Digital signs (such as LCD, LED,plasma displays, or projected images) can be found in public and private environments, such as retail stores and corporate buildings.
Another form of OOH are mobile billboards and food trucks. Food trucks have been around for over 10 years and recently received a push due to the raise of gourmet food trucks. Using food trucks, you can deliver a message in over 43 markets. Messaging can be enhanced via sampling and ambassadors. Digital out of home provides you with access to the largest DMA’s in the U.S. and Canada. You can use a version of your TV spot on the DOOH media.
I invite you to explore DOOH media and how it integrates with mobile and social media. You may apply some of these ideas to your strategies. Iif you have any questions, feel free to contact us at firstname.lastname@example.org
In the interim, you can read the OOH article from the New York Times. It talks about how marketers are using food trucks in their advertising campaigns.
Truck Sides Become Advertising Medium – NYTimes.com.
This is worth reading. It ranges from mobile phones to automotive to TV shows and of course entertainers!
Special Report: America’s Hottest Brands 2010 – Advertising Age.