The Future Marketing Business
The American technology magazine “Wired” wrote in an article that 67 billion $ of advertising money were moving away from the classic advertising channels. That is a huge amount and the trend is that this number will increase.
The loser is the printed media, you have probably already seen it in newspapers which are constantly getting thinner and thinner because they are mostly funded by the now failing numbers of advertisers. But how come we see this big change right now? The short answer would probably be the Internet and the economic crisis, but why should the Internet convert into more sales for most advertisers?
First of all people are, through the Internet, able to find highly targeted information when and where they need it. You can dig deep into a very targeted niche in no time just by doing a search on Google. Visitors looking for a very specific product or topic are what is called very targeted visitors who are more likely to convert into sales. That segment of highly interested individuals can be found online for very limited resources, while a TV commercial or newspaper banner would have to target a larger group of people in order to reach those few interested individuals and that marketing strategy is usually much more expensive.
Also the beauty of Internet marketing is that you can track and analyze your marketing efforts almost live as they happen. That way you can constantly fine tune your marketing budget and improve conversion. This is probably the main reason why many marketers are changing their marketing strategy in this time of economic depression. If you have less money to spend you are interested in only doing what really works, and the Internet delivers an effective marketing channel.
You also need to take into account the “advertising blindness” phenomena we are seeing now days. People are getting better at recognizing commercials and irrelevant ads when they scan sources of information. This devalues the effectiveness of most advertisements/commercials while on the Internet you have the possibility of blending and tweaking your marketing in order to increase the number of people actually seeing your ad!
In continuation of the fact that people are getting better at estimating relevancy, many advertisers have shifted their marketing efforts towards creating more relevant ads FOR the user not ABOUT the product. They are focusing on the consumer’s needs in order to create interest and they develop informative content that delivers many quality tips and information for free. The big companies have finally caught up on the widely known Internet phrase: “Content is King”. Companies might have to act more as information channels in the future, delivering a mix of written content, video and interaction and where else can you combine all that other than on the net?
14 Responses to “The Future Marketing Business”
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Hi,
Not sure that this is true:), but thanks for a post.
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Printed Media will not be replaced entirely but will survive by targeting specific niches such as increased “local” and “on the spot event” specific coverage and marketing.
The transition in marketing spending from “traditional print” to “new online/mobile” is evident and will likely continue due to online/mobile added relevance, performance and reach!
Printed media is definitely in recession, but I agree that it will never fully go away. Some people will always want something physical they can hold.
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