Reach Devaluation
Although advertisers increasingly are exploring other metrics, i.e. engagement and reputation, reach still rules -- at least for now. Unfortunately, reach is slowly losing its value as media consumption increasingly moves deeper into the digital realm.
Where in the analog age we might be loyal to a given media brand, today's consumers are far more agnostic. We're more likely to dip into an array of online sources including traditional news sites, blogs and social networks -- and often via search or social networks.
All of this diminishes the entire concept of reach. After all, if a site claims that it reaches millions but they're all just drive-bys, do such figures truly matter? In the years ahead, advertisers will rethink reach and not pay nearly as much for it as they did when they bought media based on a rate base and/or circulation. This will create tremendous disruption for media companies as they have to shift to new ways to prove their value.
Read More
Tuesday
Online Shopping Update: E-Commerce on the Rise
A new E-Commerce report from The Media Audit reveals that three in five U.S. adults now shop online at least once per year, while one in five adults shop at least once per month. According to the National Report, the percent increase between 2006 and 2007 among adults who now shop online is 5.2%, while the percent increase among frequent online shoppers - those who shop twelve or more times in a typical year - has risen by 5.6%. Surveys were conducted in 88 U.S. markets between January 2007 and March 2008.
The region with the greatest concentration of online shoppers is the Northeast region, where 61% of adults shop online at least once in a typical year- a figure that is 4% above the national average. However, 23.2% of adults in the Northeast region make twelve or more purchases in a typical year- a figure that is 11% higher than the national average. More specifically, adults who live in the New England Census Division are most likely to frequently shop online. Nearly one in four New Englanders shop online twelve or more times in a year, a figure that is 17% higher than the national average. The report further reveals that adults who live in the Midwest are the least likely to be frequent online shoppers. Among Midwesterners, 56% shop online at least once in a typical year, a figure that is 4% less than the national average, and 18.2% have made twelve or more online purchases in the past year, a figure that is 13% below the national average.
As the outlook for the holiday retail season is expected to be bleak for 2008, analysis from The Media Audit E-Commerce Report suggests that the best place to find potential big spenders this season is online. According to the report, online shoppers - those adults who have shopped online at least once in the past twelve months - earn more in household income and in general are more optimistic about their financial future. Among online shoppers, 64.3% are considered financial optimists, a figure that is 9% higher than all adults nationally. Furthermore, 43% of adults who shop online earn $75,000 or more in household income, (demographic of ThisWeekNews.com users) a figure that is 39% higher than for all adults, suggesting they might be more able to weather tough economic times.
Read More
The region with the greatest concentration of online shoppers is the Northeast region, where 61% of adults shop online at least once in a typical year- a figure that is 4% above the national average. However, 23.2% of adults in the Northeast region make twelve or more purchases in a typical year- a figure that is 11% higher than the national average. More specifically, adults who live in the New England Census Division are most likely to frequently shop online. Nearly one in four New Englanders shop online twelve or more times in a year, a figure that is 17% higher than the national average. The report further reveals that adults who live in the Midwest are the least likely to be frequent online shoppers. Among Midwesterners, 56% shop online at least once in a typical year, a figure that is 4% less than the national average, and 18.2% have made twelve or more online purchases in the past year, a figure that is 13% below the national average.
As the outlook for the holiday retail season is expected to be bleak for 2008, analysis from The Media Audit E-Commerce Report suggests that the best place to find potential big spenders this season is online. According to the report, online shoppers - those adults who have shopped online at least once in the past twelve months - earn more in household income and in general are more optimistic about their financial future. Among online shoppers, 64.3% are considered financial optimists, a figure that is 9% higher than all adults nationally. Furthermore, 43% of adults who shop online earn $75,000 or more in household income, (demographic of ThisWeekNews.com users) a figure that is 39% higher than for all adults, suggesting they might be more able to weather tough economic times.
Read More
Friday
Objection #2 - I believe I duplicate too much if I already buy print newspaper advertising and add the newspaper's website
Of course there is duplication between the print and online reader, much as their is a print reader and television/radio viewer/listener. Most newspapers report 45-50% of their online audience not reading the printed product. In addition, the website allows for animation and an interactive user experience. Don't think of it as duplication, think of it as increased frequency of your message to your target audience which will increase awareness and recognition. However, most of the readership on a newspaper website is unduplicated against newspaper readership, they come looking for something different then they did/did not find in print.
5 things to do to seed social media into your marketing strategy.
While you might not be setting up your own social networking site; many of our advertisers still understand the value of the web or at the very least viral marketing. Social Media on the web is just viral advertising (through the computer). Knowing what you're talking about is always a plus, whether you're just talking about it or if you're trying to sell around the need.
So here are five things to do to seed social media into your marketing strategy.
Find your peeps. It's all about targeting. The goal is to comfortably intersect with your customers and prospects. In some cases, you can add social media elements to your Web site and to your marketing campaigns. In other cases, it makes more sense to go where they are already going. Think like an anthropologist. Find your people. Watch what they say and do. Look for patterns. Ask them what they like and what they want.
Dare to be embarrassed. Social media shifts control from brands to customers. It's about what they think and what they want; not what you're pushing. Some think you suck. But you knew that and it's okay. To embrace social networks is to risk being next to content that you don't control, to receive and respond to reviews and criticism you're not used to -- and possibly to take your brand not so seriously.
Lead with your long suit. Social networks give brands the opportunity to expose things they know, showcase expertise, present ideas or designs, float trial balloons and introduce personalities. It's an unparalleled chance to invite customers and prospects into your world. Don't underestimate how into your brand your best customers are. Don't be bashful. Put your people and your best stuff out there. Don't let the lawyers tell you otherwise.
Play around. We're in the early stages. There are no proven formulas and no real best practices. It's a real chance to play around by asking users to send in things, participate in contests, answer survey questions, sample products or services, download coupons, upload photos and who knows what else? Test and learn your way to greatness.
Play to the cheap seats. Social media is like talk radio or old-fashioned telephone party lines. A tiny percent call -- but everybody is listening. The beauty of having friends and linkages is seeing what they are doing and watching them experiment from the sidelines. The numbers of passive and occasional users far outnumber the hardcore players, even among the younger demographic groups. But don't ignore them because they're getting off and getting their own ideas watching what goes on.
So here are five things to do to seed social media into your marketing strategy.
Find your peeps. It's all about targeting. The goal is to comfortably intersect with your customers and prospects. In some cases, you can add social media elements to your Web site and to your marketing campaigns. In other cases, it makes more sense to go where they are already going. Think like an anthropologist. Find your people. Watch what they say and do. Look for patterns. Ask them what they like and what they want.
Dare to be embarrassed. Social media shifts control from brands to customers. It's about what they think and what they want; not what you're pushing. Some think you suck. But you knew that and it's okay. To embrace social networks is to risk being next to content that you don't control, to receive and respond to reviews and criticism you're not used to -- and possibly to take your brand not so seriously.
Lead with your long suit. Social networks give brands the opportunity to expose things they know, showcase expertise, present ideas or designs, float trial balloons and introduce personalities. It's an unparalleled chance to invite customers and prospects into your world. Don't underestimate how into your brand your best customers are. Don't be bashful. Put your people and your best stuff out there. Don't let the lawyers tell you otherwise.
Play around. We're in the early stages. There are no proven formulas and no real best practices. It's a real chance to play around by asking users to send in things, participate in contests, answer survey questions, sample products or services, download coupons, upload photos and who knows what else? Test and learn your way to greatness.
Play to the cheap seats. Social media is like talk radio or old-fashioned telephone party lines. A tiny percent call -- but everybody is listening. The beauty of having friends and linkages is seeing what they are doing and watching them experiment from the sidelines. The numbers of passive and occasional users far outnumber the hardcore players, even among the younger demographic groups. But don't ignore them because they're getting off and getting their own ideas watching what goes on.
Subscribe to:
Posts (Atom)
Posts
