Friday, July 22, 2011

Importance of Media in Business

We've all heard the stories and the guru's ... traditional media dead (or at the very least, dying) But is is it really? Has the digital revolution caused irreversible damage? Are advertisers really wasting their dollars when they place ads on the TV, radio or in a newspaper?

All those traditional mediums advertisers have used in the past are not dead. Many aren't as strong as they once were, but they still occupy an important place in the media landscape. Most important, consumers still spend lots of their time consuming what these mediums have to offer. Here what the numbers look like.

Television : If you need to reach lots of consumers in the shortest period of time, TV is still the big winner.
82% of adults (A18+) watch TV every day
93% of adults (A18+) watch TV throughout the week
61% of adults (A19+) report they trust television advertising
On average, American men (18+) spend 10.7 hours weekly TV vs. 11.2 hours for women (18+)

Radio : It's still portable, informative and entertaining. Here is who is listening now.
71% of adults (A18+) listen to the radio each day (109 minutes daily)
82% of adults (A18+) listen to the radio each week (678 minutes weekly)
55% of radio listeners report they trust radio advertising
on average, American men (18+) spend 4.9 hours listening to radio each week vs. 4.8 for women(18+)

Daily Newspapers : If your preferred customer is 50+, highly educated and is a professional placing ads in the newspaper might be for you.

Depending ads in the market, 50 - 74% of American adults read a newspaper at least once a week, either printed or online.
79% of readers are considered white collar
82% are adults with household income over$100l
84% are university grads
69% of readers report they trust that newspaper articles are verified and exact Internet
64% of adults (A18+) go on-line daily, with 107 minutes spent on-line per day per user
72% of adults (A18+) go on-line weekly, with 543 minutes spent on-line per week
American men (18+) spend an average 10.8 hours online each week vs 11.3 hours for women(18+)
43% of Internet users report that they notice ad banners on websites.
(Sources of Statistics: Scarborough Research, Nelson, Arbitron, Pew Internet Research)

The truth is that none of the "old " mediums have disappeared. People still read books, magazine and newspapers, they still go to the movies, listen to the radio and watch television. Evolution does happened and some mediums have a natural affinity for each other.

While technology still ranks as the most powerful advertising. With all of the customer comments and discussion boards, the Internet  can provide this too. Be advised that customer comments cut both ways. And unlike face-to-face word-of-mouth that tends to be limited to a few people, negative comments posted on-line can reach hundreds if not thousands of potential customers instantly.

While technology changes at a blinding pace, people haven't  changed all that much. Since time began, they've done what pleases them and what they're comfortable with. That doesn't change overnight. If you make your selling proposition easy, comfortable, your marketing efforts will continue to generate positive results.

This brings us to the conclusion that it all works.Used properly and consistently, virtually every medium will generate some type of response for you. Newspaper, radio, TV, bus cards, direct mail, skywriting , and the Internet can deliver potential customers to your door (real or virtual). This is provided that you have something of value. Regardless of he medium used, your must tell your story in a compelling manner that convinces the consumer your are superior choice. Your message  must be relevant, easy to comprehend, and meaningful.

Numbers can be confusing. And sellers of ad space love to throw a lot of numbers around. The bottom line any advertiser is this, focus on creating a message that is relevant and interesting to the consumer. A sound message, with real benefits will have a positive impact regardless of where you place your ads.

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