Ad Buyers Spending Less on Traditional Media Like Print, TV
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Nearly half of senior executives surveyed recognize that reaching audiences through only traditional mass media is no longer effective, and they are actively developing ways to reach consumers through more customized means, including Internet Web sites and social networking sites.
| Usage and Planned Spending on Alternative and Traditional Media | ||
|---|---|---|
| Medium | Percent Who Currently Use | Percent who plan on spending more in next 5 years |
| Web sites | 91 | 66 |
| Customized events for specific demographic targets | 81 | 54 |
| Local community outreach | 79 | 40 |
| Direct mail | 76 | 32 |
| Social networking | 69 | 37 |
| Magazine ads | 68 | 18 |
| Internet banner ads | 56 | 46 |
| Newspaper ads | 54 | 13 |
| Radio ads | 48 | 31 |
| Cable TV ads | 37 | 22 |
| Online video | 33 | 32 |
| Network TV ads | 29 | 13 |
| Source: Weber Shandwick/KRC Research | ||
The survey provides strong evidence that media buyers find radio, television, and newspapers far less valuable as advertising vehicles compared to new media, especially the Internet--a stark contrast to regulators who claim newspaper and broadcasting conglomerates continue to dominate local information markets to such a degree that acquisitions, consolidations, and cross-ownership must be curtailed or controlled.
According to a survey released in December by global public relations firm Weber Shandwick and KRC Research, “The Changing Face of Marketing and Communications in Today’s Creativity Economy,” 76 percent of senior executives are already experimenting with alternative media--defined as any advertising or marketing besides television, radio, and print media. “Companies are just beginning to realize how many new marketing channels are emerging as a direct result of the Creativity Economy,” Jennifer Risi, executive vice president in the Global Strategic Media Group at Weber Shandwick, said in a statement. “Recognizing and seizing these opportunities will mean the difference between success and failure in this new age of communications.”
After leading non-traditional marketing strategies such as Web sites, customized events, community outreach, and direct mail, companies are turning to social networking as a way of communicating with customers. Nearly seven out of 10 executives use this strategy today.
A total sample of 104 senior executives (CEOs, presidents, chief marketing officers, and other top executives) were interviewed by telephone from June to August 2006.
Steven Titch (titch@heartland.org) is senior fellow for IT and telecom policy at The Heartland Institute and managing editor of IT&T News.
