Media Vent
By Bob Sacks
About Bob
Bob Sacks (aka BoSacks) is a printing/publishing industry consultant and president of The Precision Media Group (BoSacks.com). He is also the co-founder of the research company Media-Ideas (Media-Ideas.net), and publisher and editor of a daily international e-newsletter, Heard on the Web. Sacks has held posts as director of manufacturing and distribution, senior sales manager (paper), chief of operations, pressman, circulator and almost every other job this industry has to offer.
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Advertising Has Changed Forever
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This is a very interesting article from Ad Age by Josh Bernoff that makes the claim that "Advertising Will Change Forever." I agree. It already has already changed, and it won't stop changing anytime soon.
I am currently writing a new article with the working title "Is It Normal Yet?" Perhaps I should call it, "Will I Recognize Normal When It Comes Around Again?" But you get the idea: We are in a whole new media landscape. It's like we are the old Europeans and have just landed in the New World. The rules are different. There are no kings, no queens and no duchies. The rules are forever changed, and no one is going back to the old ways of the old kingdom. That is not necessarily a bad thing. It is just going to take some time to get used to it. If you can't make that adjustment, you had better consider retiring now.
There are several key concepts here from Forrester Research:
In the near future, the revenue support of media by advertisers will be all about branding, marketing and ROI. You can forget about the mythologies of pass-along-readership studies and the sordid details of a 35-percent sell-through at the newsstand. In this recession, marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent.
If there is another way to look at this data and the Forrester Report, please let me know.
I am currently writing a new article with the working title "Is It Normal Yet?" Perhaps I should call it, "Will I Recognize Normal When It Comes Around Again?" But you get the idea: We are in a whole new media landscape. It's like we are the old Europeans and have just landed in the New World. The rules are different. There are no kings, no queens and no duchies. The rules are forever changed, and no one is going back to the old ways of the old kingdom. That is not necessarily a bad thing. It is just going to take some time to get used to it. If you can't make that adjustment, you had better consider retiring now.
There are several key concepts here from Forrester Research:
- In this recession, marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent.
- While budgets for online advertising have decreased, they decreased less than other budgets.
- Six out of 10 marketers surveyed agreed with the statement, "we will increase budget for interactive by shifting money away from traditional marketing."
In the near future, the revenue support of media by advertisers will be all about branding, marketing and ROI. You can forget about the mythologies of pass-along-readership studies and the sordid details of a 35-percent sell-through at the newsstand. In this recession, marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent.
If there is another way to look at this data and the Forrester Report, please let me know.
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COMMENTS
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Most Recent Comments:
Stephanie Hanaway - Posted on August 03, 2009
I take issue with Forrester's conclusion that ". . . marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent." I don't believe that marketers have learned any such thing.
What they've learned is that they can easily PROVE ROI for interactive campaigns, but still have not figured out how to do the same for advertising (especially print). And we print publishers haven't been much help, either.
Twenty years ago I was struggling with advertisers who were counting bingo card replies as their sole measure of ad ROI. Why? Because I couldn't give them anything more meaningful that was just as tangible.
Advertising proves over and over again to deliver very impressive ROI. But measuring is costly and can only be done over long periods of time.
In this age when everyone needs immediate data to justify every dollar, it's no wonder that advertising is being perceived as less important by marketers who are under immense pressure to deliver short term results.
I take issue with Forrester's conclusion that ". . . marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent." I don't believe that marketers have learned any such thing.
What they've learned is that they can easily PROVE ROI for interactive campaigns, but still have not figured out how to do the same for advertising (especially print). And we print publishers haven't been much help, either.
Twenty years ago I was struggling with advertisers who were counting bingo card replies as their sole measure of ad ROI. Why? Because I couldn't give them anything more meaningful that was just as tangible.
Advertising proves over and over again to deliver very impressive ROI. But measuring is costly and can only be done over long periods of time.
In this age when everyone needs immediate data to justify every dollar, it's no wonder that advertising is being perceived as less important by marketers who are under immense pressure to deliver short term results.
Michael J - Posted on July 31, 2009
Since you ask for another way to look at . . .
I think advertisers are realizing that paid media is not the best way to sell stuff. Given the state of the technology they can reach consumers directly at much lower costs, with much better metrics. It's not even about websites advertising. It's about behavior and contextually accurate messages. Which is just a today's version of the right offer to the right person at the right time. WalMart running their ads on their in store network is just one of the many examples.
On the other hand, it's also all about word of mouth. The new capability of print to connect to the web and through connect to internet TV brings print back in the game. big time. The ability of network of printers, the prime example being Consolidated and Donnelly to distribute and print, means millions of print pieces delivered over night with a minimal carbon footprint. If the print has TinyPurls and Codez QR, it means a whole new clickstream that can be analyzed to guide more marketing.
For publishers, they can use the same technology in their publications or consider the product business. If advertisers don't magazines. Maybe their is a business model that says magazines won't need as many advertisers.
Since you ask for another way to look at . . .
I think advertisers are realizing that paid media is not the best way to sell stuff. Given the state of the technology they can reach consumers directly at much lower costs, with much better metrics. It's not even about websites advertising. It's about behavior and contextually accurate messages. Which is just a today's version of the right offer to the right person at the right time. WalMart running their ads on their in store network is just one of the many examples.
On the other hand, it's also all about word of mouth. The new capability of print to connect to the web and through connect to internet TV brings print back in the game. big time. The ability of network of printers, the prime example being Consolidated and Donnelly to distribute and print, means millions of print pieces delivered over night with a minimal carbon footprint. If the print has TinyPurls and Codez QR, it means a whole new clickstream that can be analyzed to guide more marketing.
For publishers, they can use the same technology in their publications or consider the product business. If advertisers don't magazines. Maybe their is a business model that says magazines won't need as many advertisers.
stucop - Posted on July 27, 2009
there's only room for a dozen results on the first page of a search engine search, and it's impossible for everyone to be there...if you're not how will your prospective customers find you? Print and other traditional media drives web traffic. Marketing is about balance, and that balance is a little out of whack right now. But, marketers will find it again and print and traditional media will still be a part of the mix. The share online will grow, but other forms of advertising wont dissappear. Smart marketers know that it's always best to have a plan balanced accross various media.
there's only room for a dozen results on the first page of a search engine search, and it's impossible for everyone to be there...if you're not how will your prospective customers find you? Print and other traditional media drives web traffic. Marketing is about balance, and that balance is a little out of whack right now. But, marketers will find it again and print and traditional media will still be a part of the mix. The share online will grow, but other forms of advertising wont dissappear. Smart marketers know that it's always best to have a plan balanced accross various media.
Armond Noble - Posted on July 24, 2009
There are about one-million educated, affluent people reading (for example) The New Yorker. Another million reading Business Week. But rather than trying to reach them, advertisers are living with hope that someone will find their website.
There are about one-million educated, affluent people reading (for example) The New Yorker. Another million reading Business Week. But rather than trying to reach them, advertisers are living with hope that someone will find their website.
Noelle Skodzinski - Posted on July 24, 2009
I agree with much of what Neal said ... at a recent panel discussion at a book industry conference, one major book publisher addressed all the talk (and moderators' questions) of digital being the future by saying: "98 percent of what we sell right NOW is print."
Changes are happening, but they are not black-and-white, not as simple as one thing is dead and this is the future.
It's also important to differentiate that certain things will work better for certain types of campaigns, and plenty of research still suggests print advertising, specifically in magazines, provides better ROI. Sure, that may change in the future - most things do change -- but for now, why is that being ignored by many marketers?
re: "You can forget all the silly dialogue about print dying, and just focus on where and specifically what media has relevance to the advertisers." ... So, that will be what consumers will be left with: whatever formats--and even content--advertisers are willing to pay for. I was going to say that I think consumers would rather pay for the content they actually want, but realistically, it has ALWAYS been the case that products of interest to advertisers are what gets pushed into the marketplace -- look at the magazines that hundreds of thousands of people have said they want (by subscribing), but yet they still folded when ad support dropped.
I agree with much of what Neal said ... at a recent panel discussion at a book industry conference, one major book publisher addressed all the talk (and moderators' questions) of digital being the future by saying: "98 percent of what we sell right NOW is print."
Changes are happening, but they are not black-and-white, not as simple as one thing is dead and this is the future.
It's also important to differentiate that certain things will work better for certain types of campaigns, and plenty of research still suggests print advertising, specifically in magazines, provides better ROI. Sure, that may change in the future - most things do change -- but for now, why is that being ignored by many marketers?
re: "You can forget all the silly dialogue about print dying, and just focus on where and specifically what media has relevance to the advertisers." ... So, that will be what consumers will be left with: whatever formats--and even content--advertisers are willing to pay for. I was going to say that I think consumers would rather pay for the content they actually want, but realistically, it has ALWAYS been the case that products of interest to advertisers are what gets pushed into the marketplace -- look at the magazines that hundreds of thousands of people have said they want (by subscribing), but yet they still folded when ad support dropped.
Neal Larsson - Posted on July 24, 2009
I agree it has changed forever but let's differentiate "Print". Some print formats have been rendered nearly obsolete while other formats such as monthly niche magazines are vibrant. Magazines are still the most effective way to drive internet traffic. The hometown weekly newspaper format should still be vibrant but unfortunately is caught up in what seems to be the "Print is Dead" campaign. The internet is an awful advertising medium, yet it is a tremendous marketing tool. When a traditional multi media mix including "print" is coupled with internet is where solid ad campaigns are built. Advertisers need to wake up to the false promise of internet advertising and the bandwagon mentality. It's not good for their business. On the flip side Publishers need to wake up and fight this "Print is Dead" campaign with a campaign of our own. We have all this media at our fingertips why not band together for a "Publishing Lives" campaign? I agree it's changed but if you still have a strong passionate readership your still very much allive!
I agree it has changed forever but let's differentiate "Print". Some print formats have been rendered nearly obsolete while other formats such as monthly niche magazines are vibrant. Magazines are still the most effective way to drive internet traffic. The hometown weekly newspaper format should still be vibrant but unfortunately is caught up in what seems to be the "Print is Dead" campaign. The internet is an awful advertising medium, yet it is a tremendous marketing tool. When a traditional multi media mix including "print" is coupled with internet is where solid ad campaigns are built. Advertisers need to wake up to the false promise of internet advertising and the bandwagon mentality. It's not good for their business. On the flip side Publishers need to wake up and fight this "Print is Dead" campaign with a campaign of our own. We have all this media at our fingertips why not band together for a "Publishing Lives" campaign? I agree it's changed but if you still have a strong passionate readership your still very much allive!
JF - Posted on July 24, 2009
Just making readers understand what Interactive Marketing refers to; and that it is not specifically related to online marketing. Interactive Marketing refers to the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation. The definition of interactive marketing comes from John Deighton at Harvard, who says interactive marketing is the ability to address the customer, remember what the customer says and address the customer again in a way that illustrates that we remember what the customer has told us (Deighton 1996). Interactive marketing is not synonymous with online marketing, although interactive marketing processes are facilitated by internet technology. The ability to remember what the customer has said is made easier when we can collect customer information online and we can communicate with our customer more easily using the speed of the internet. Amazon.com is an excellent example of the use of interactive marketing, as customers record their preferences and are shown book selections that match not only their preferences but recent purchases.
Just making readers understand what Interactive Marketing refers to; and that it is not specifically related to online marketing. Interactive Marketing refers to the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation. The definition of interactive marketing comes from John Deighton at Harvard, who says interactive marketing is the ability to address the customer, remember what the customer says and address the customer again in a way that illustrates that we remember what the customer has told us (Deighton 1996). Interactive marketing is not synonymous with online marketing, although interactive marketing processes are facilitated by internet technology. The ability to remember what the customer has said is made easier when we can collect customer information online and we can communicate with our customer more easily using the speed of the internet. Amazon.com is an excellent example of the use of interactive marketing, as customers record their preferences and are shown book selections that match not only their preferences but recent purchases.
Click here to view archived comments...
Archived Comments:
Stephanie Hanaway - Posted on August 03, 2009
I take issue with Forrester's conclusion that ". . . marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent." I don't believe that marketers have learned any such thing.
What they've learned is that they can easily PROVE ROI for interactive campaigns, but still have not figured out how to do the same for advertising (especially print). And we print publishers haven't been much help, either.
Twenty years ago I was struggling with advertisers who were counting bingo card replies as their sole measure of ad ROI. Why? Because I couldn't give them anything more meaningful that was just as tangible.
Advertising proves over and over again to deliver very impressive ROI. But measuring is costly and can only be done over long periods of time.
In this age when everyone needs immediate data to justify every dollar, it's no wonder that advertising is being perceived as less important by marketers who are under immense pressure to deliver short term results.
I take issue with Forrester's conclusion that ". . . marketers have learned that interactive marketing is more effective, and advertising less effective, per dollar spent." I don't believe that marketers have learned any such thing.
What they've learned is that they can easily PROVE ROI for interactive campaigns, but still have not figured out how to do the same for advertising (especially print). And we print publishers haven't been much help, either.
Twenty years ago I was struggling with advertisers who were counting bingo card replies as their sole measure of ad ROI. Why? Because I couldn't give them anything more meaningful that was just as tangible.
Advertising proves over and over again to deliver very impressive ROI. But measuring is costly and can only be done over long periods of time.
In this age when everyone needs immediate data to justify every dollar, it's no wonder that advertising is being perceived as less important by marketers who are under immense pressure to deliver short term results.
Michael J - Posted on July 31, 2009
Since you ask for another way to look at . . .
I think advertisers are realizing that paid media is not the best way to sell stuff. Given the state of the technology they can reach consumers directly at much lower costs, with much better metrics. It's not even about websites advertising. It's about behavior and contextually accurate messages. Which is just a today's version of the right offer to the right person at the right time. WalMart running their ads on their in store network is just one of the many examples.
On the other hand, it's also all about word of mouth. The new capability of print to connect to the web and through connect to internet TV brings print back in the game. big time. The ability of network of printers, the prime example being Consolidated and Donnelly to distribute and print, means millions of print pieces delivered over night with a minimal carbon footprint. If the print has TinyPurls and Codez QR, it means a whole new clickstream that can be analyzed to guide more marketing.
For publishers, they can use the same technology in their publications or consider the product business. If advertisers don't magazines. Maybe their is a business model that says magazines won't need as many advertisers.
Since you ask for another way to look at . . .
I think advertisers are realizing that paid media is not the best way to sell stuff. Given the state of the technology they can reach consumers directly at much lower costs, with much better metrics. It's not even about websites advertising. It's about behavior and contextually accurate messages. Which is just a today's version of the right offer to the right person at the right time. WalMart running their ads on their in store network is just one of the many examples.
On the other hand, it's also all about word of mouth. The new capability of print to connect to the web and through connect to internet TV brings print back in the game. big time. The ability of network of printers, the prime example being Consolidated and Donnelly to distribute and print, means millions of print pieces delivered over night with a minimal carbon footprint. If the print has TinyPurls and Codez QR, it means a whole new clickstream that can be analyzed to guide more marketing.
For publishers, they can use the same technology in their publications or consider the product business. If advertisers don't magazines. Maybe their is a business model that says magazines won't need as many advertisers.
stucop - Posted on July 27, 2009
there's only room for a dozen results on the first page of a search engine search, and it's impossible for everyone to be there...if you're not how will your prospective customers find you? Print and other traditional media drives web traffic. Marketing is about balance, and that balance is a little out of whack right now. But, marketers will find it again and print and traditional media will still be a part of the mix. The share online will grow, but other forms of advertising wont dissappear. Smart marketers know that it's always best to have a plan balanced accross various media.
there's only room for a dozen results on the first page of a search engine search, and it's impossible for everyone to be there...if you're not how will your prospective customers find you? Print and other traditional media drives web traffic. Marketing is about balance, and that balance is a little out of whack right now. But, marketers will find it again and print and traditional media will still be a part of the mix. The share online will grow, but other forms of advertising wont dissappear. Smart marketers know that it's always best to have a plan balanced accross various media.
Armond Noble - Posted on July 24, 2009
There are about one-million educated, affluent people reading (for example) The New Yorker. Another million reading Business Week. But rather than trying to reach them, advertisers are living with hope that someone will find their website.
There are about one-million educated, affluent people reading (for example) The New Yorker. Another million reading Business Week. But rather than trying to reach them, advertisers are living with hope that someone will find their website.
Noelle Skodzinski - Posted on July 24, 2009
I agree with much of what Neal said ... at a recent panel discussion at a book industry conference, one major book publisher addressed all the talk (and moderators' questions) of digital being the future by saying: "98 percent of what we sell right NOW is print."
Changes are happening, but they are not black-and-white, not as simple as one thing is dead and this is the future.
It's also important to differentiate that certain things will work better for certain types of campaigns, and plenty of research still suggests print advertising, specifically in magazines, provides better ROI. Sure, that may change in the future - most things do change -- but for now, why is that being ignored by many marketers?
re: "You can forget all the silly dialogue about print dying, and just focus on where and specifically what media has relevance to the advertisers." ... So, that will be what consumers will be left with: whatever formats--and even content--advertisers are willing to pay for. I was going to say that I think consumers would rather pay for the content they actually want, but realistically, it has ALWAYS been the case that products of interest to advertisers are what gets pushed into the marketplace -- look at the magazines that hundreds of thousands of people have said they want (by subscribing), but yet they still folded when ad support dropped.
I agree with much of what Neal said ... at a recent panel discussion at a book industry conference, one major book publisher addressed all the talk (and moderators' questions) of digital being the future by saying: "98 percent of what we sell right NOW is print."
Changes are happening, but they are not black-and-white, not as simple as one thing is dead and this is the future.
It's also important to differentiate that certain things will work better for certain types of campaigns, and plenty of research still suggests print advertising, specifically in magazines, provides better ROI. Sure, that may change in the future - most things do change -- but for now, why is that being ignored by many marketers?
re: "You can forget all the silly dialogue about print dying, and just focus on where and specifically what media has relevance to the advertisers." ... So, that will be what consumers will be left with: whatever formats--and even content--advertisers are willing to pay for. I was going to say that I think consumers would rather pay for the content they actually want, but realistically, it has ALWAYS been the case that products of interest to advertisers are what gets pushed into the marketplace -- look at the magazines that hundreds of thousands of people have said they want (by subscribing), but yet they still folded when ad support dropped.
Neal Larsson - Posted on July 24, 2009
I agree it has changed forever but let's differentiate "Print". Some print formats have been rendered nearly obsolete while other formats such as monthly niche magazines are vibrant. Magazines are still the most effective way to drive internet traffic. The hometown weekly newspaper format should still be vibrant but unfortunately is caught up in what seems to be the "Print is Dead" campaign. The internet is an awful advertising medium, yet it is a tremendous marketing tool. When a traditional multi media mix including "print" is coupled with internet is where solid ad campaigns are built. Advertisers need to wake up to the false promise of internet advertising and the bandwagon mentality. It's not good for their business. On the flip side Publishers need to wake up and fight this "Print is Dead" campaign with a campaign of our own. We have all this media at our fingertips why not band together for a "Publishing Lives" campaign? I agree it's changed but if you still have a strong passionate readership your still very much allive!
I agree it has changed forever but let's differentiate "Print". Some print formats have been rendered nearly obsolete while other formats such as monthly niche magazines are vibrant. Magazines are still the most effective way to drive internet traffic. The hometown weekly newspaper format should still be vibrant but unfortunately is caught up in what seems to be the "Print is Dead" campaign. The internet is an awful advertising medium, yet it is a tremendous marketing tool. When a traditional multi media mix including "print" is coupled with internet is where solid ad campaigns are built. Advertisers need to wake up to the false promise of internet advertising and the bandwagon mentality. It's not good for their business. On the flip side Publishers need to wake up and fight this "Print is Dead" campaign with a campaign of our own. We have all this media at our fingertips why not band together for a "Publishing Lives" campaign? I agree it's changed but if you still have a strong passionate readership your still very much allive!
JF - Posted on July 24, 2009
Just making readers understand what Interactive Marketing refers to; and that it is not specifically related to online marketing. Interactive Marketing refers to the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation. The definition of interactive marketing comes from John Deighton at Harvard, who says interactive marketing is the ability to address the customer, remember what the customer says and address the customer again in a way that illustrates that we remember what the customer has told us (Deighton 1996). Interactive marketing is not synonymous with online marketing, although interactive marketing processes are facilitated by internet technology. The ability to remember what the customer has said is made easier when we can collect customer information online and we can communicate with our customer more easily using the speed of the internet. Amazon.com is an excellent example of the use of interactive marketing, as customers record their preferences and are shown book selections that match not only their preferences but recent purchases.
Just making readers understand what Interactive Marketing refers to; and that it is not specifically related to online marketing. Interactive Marketing refers to the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation. The definition of interactive marketing comes from John Deighton at Harvard, who says interactive marketing is the ability to address the customer, remember what the customer says and address the customer again in a way that illustrates that we remember what the customer has told us (Deighton 1996). Interactive marketing is not synonymous with online marketing, although interactive marketing processes are facilitated by internet technology. The ability to remember what the customer has said is made easier when we can collect customer information online and we can communicate with our customer more easily using the speed of the internet. Amazon.com is an excellent example of the use of interactive marketing, as customers record their preferences and are shown book selections that match not only their preferences but recent purchases.
