Get your share of growing media spend

Great news! In 2017 ad spend is predicted to rise globally by 4.5% [1] . Growth always offers great opportunities, but with a huge range of new media available, clients are predicted to pour an increasing amount of their higher spend into digital formats.

Digital is the leading driver [2] of growth around the world, and increasingly, in countries such as Hong Kong and Estonia, it’s becoming the leading media format. But that doesn’t mean traditional media owners can’t get a share of this increased spend too.


 

What should traditional media owners do?

Despite the continued growth in digital, traditional media still makes up the bulk of spend, and Jonathan Barnard, Head of Forecasting at Zenith Optimedia, has advice for media companies on how to adapt following the company’s forecast [3] for 2017.

Barnard says, “The report highlights the necessity for media owners to embrace the internet, which is relentlessly attracting attention from traditional media.” However, he also stressed that media companies and advertisers shouldn’t “over-react” to the rise of digital.

After all, as Barnard noted: “Traditional media still accounts for three quarters of media consumption.”

In some cases, viewing of traditional media is expected to increase. For example, exposure to outdoor advertising increased by 0.6% between 2014 and 2017 [4].

While there are still plentiful opportunities for traditional media, the fact remains that in some cases there are significant drops in share of global media consumption. In 2010 TV accounted for 42.4% of global media consumption. This is likely to drop below 35% this year [5].

To ensure that your client sees the opportunities in traditional media, there are two important things to emphasise in your client’s strategies:


 

Trust

One area where traditional media unquestionably trumps digital media is in consumer trust.

According to a 2013 study by Nielsen [6], TV, newspaper, magazine, billboard and radio ads were more trusted than search, display, social media, banner and SMS ads.

While factors such as targeting and reach are undoubtedly vital to your clients, what also matters is that their brand is trusted by the consumer. Two thirds [7] of people will not buy from brands they don’t trust, while 68% [8] would recommend a trusted brand to others.

Not only does trust matter to consumers, it matters to your client too. In fact consumer trust was second [9] only to top line growth in a top-of-mind survey of consumer goods executives.


 

Working together

In the conversation between the advantages and disadvantages of both digital and traditional media campaigns, it’s easy to forget that quite often these channels are even more effective when they work together.

In one study OOH campaigns boosted smartphone brand interactions by 38% [10]. And most tellingly, among those aged 16-24, there was a 140% increase in actions after being exposed to the top 20 campaigns, compared with those who had not seen the ad. Two thirds of these actions were direct brand interactions, such as a search for the brand or campaign tagline, or visiting the website directly. More than half took place within two days of the most recent exposure to the OOH campaign.

So whether your clients are looking to build consumer trust by using the media that people respect the most, or whether they want a super-effective way to enhance their digital campaigns, you can assure them that traditional media should be in their strategy now and in the future.


 

 

 

[1] http://www.webstrategiesinc.com/blog/how-much-budget-for-online-marketing-in-2014

[2] http://www.carat.com/global/en/news-views/carat-adspend-report-september-2016/

[3] https://www.themediabriefing.com/article/how-will-international-media-consumption-and-advertising-change-by-2017

[4] https://www.themediabriefing.com/article/how-will-international-media-consumption-and-advertising-change-by-2017

[5] https://www.themediabriefing.com/article/how-will-international-media-consumption-and-advertising-change-by-2017

[6] http://www.nielsen.com/us/en/insights/news/2013/under-the-influence-consumer-trust-in-advertising.html

[7] http://www.britishbrandsgroup.org.uk/upload/File/Consumer%20Trust%20in%20Brands%20Summary%20Report%20UK%20201015.pdf

[8] http://www.britishbrandsgroup.org.uk/upload/File/Consumer%20Trust%20in%20Brands%20Summary%20Report%20UK%20201015.pdf

[9] http://www.britishbrandsgroup.org.uk/upload/File/Consumer%20Trust%20in%20Brands%20Summary%20Report%20UK%20201015.pdf

[10] https://www.fwx.co.uk/out-of-home-advertising/


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