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Looking to The Future Living in the Now
By Blue Tiger’s Media Director Adam Outlaw
Words, phrases, acronyms circulate the media world and dominate periods as the ‘hot topic’ at any one time.
The problem with this is that they are often old topics which the masses have just woken up to, very few media strategists have the foresight to see market and behavioural changes, enabling them to adapt and strategise ahead of time. Being able to do this is what sets companies apart from others and ‘steal a march’ on their competitors.
Over the past couple of years the rise of terms such as ‘ROI’ and ‘Media Consumption’ have filled meeting rooms and think tanks, however are these really new? When has it ever not been about ‘ROI’? Media strategies have always needed to return results. During the difficult economic period and with the rise of online based solutions, which some believe can be more easily quantified, the ‘ROI’ question has risen to the top of the agendas, but this has always been the key point for any accomplished marketer.
‘Media Consumption’ is another phrase which is currently circulating. Industry research show rises in expenditure across mobile and video for example, the industry suddenly sits up to take notice, however the media landscape has changed drastically in all media channels over the past 10 years. You can argue that it is at its peak now, but again this is nothing new, we can see it coming and you adapt with change.
It amazes me now that I see so many advertisers having not adapted or only just adapting to something that they should have done 5 years ago.
Around 25% of a users time is spent within a social sphere. How many brands can say that they have fully embraced this media. Is your Facebook page up to date following the new timeline implementation? It should have been ready months ago rather than reacting to market situations.
With regards to advertisers TV campaigns, more and more are slowly waking up to the power of the online players and VOD. This should have been part of strategies for at least the past two years and is an integral part of any traditional TV campaign.
It should come as no surprise that display advertising on mobiles has more than doubled year on year, increasing by 186% to £68.9 million as smart phone ownership rises to 53% of people in the UK.
Have a look at your website analytics, how many users have visited your site via a mobile device? What is the bounce rate? I think you will be surprised and it begs the question as to why you would have a site and not a mobile site as well.
Change happens for a reason. Many industry officials staunchly disagreed that the singles chart, as they knew it, would switch to an online download chart. They were slow to adapt, innovate and ultimately they were left behind, with many only just catching up now.
We know the media landscape is always changing, the challenge is to utilise a full media mix that covers as many of the key channels as possible without reducing the impact of a campaign overall, whilst monitoring market trends to ensure your campaigns are proactive. Not reactive.
