Advertising Has Changed Forever
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 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."
This is a trend analysis that should be read and understood by all media personnel. You can forget all the silly dialogue about print dying, and just focus on where and specifically what media has relevance to the advertisers. Or, put in a less friendly fashion, we can talk about the trend toward the marginalization of the printed product. Not a death, not even an illness, just marginalized to the revenue sidelines. Will we come back from this dreadful year? Of course. When we do, will the landscape have changed? Of course.
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.