While traditional media such as television currently maintain a sizable lead in expenditures, forecasts indicate that digital-ad spending is closing the gap, growing from $32 billion in 2011 to $60 billion (80 percent of TV- advertising total) by 2017.1 And mobile-ad spending alone will account for 45 percent of all digital outlays by 2017.
A close friend of mine was in the are doing so research with consumers on their TV viewing habits and wanted to learn more about why people are turning off from broadcast TV and are instead streaming shows. The conversations I heard made a lot of sense and if true it surely will lead to the death of broadcast TV.
Over half (55%) of consumers are put off buying products or services if they see the same ad online multiple times, according to a study by InSkin Media and RAPP Media that surveyed over 1,600 people aged 20 to 60. Only 10% of consumers are more likely to buy something after seeing the same ad served repeatedly because of their previous web surfing behavior (known as retargeting).
It should come as no surprise to anyone that senior management is demanding more accountability from marketers. Even though, for some companies, profits are at record levels other brands are struggling to get and keep fickle consumers. Marketing, at its heart, is still about getting consumers to purchase your product. What has changed is that consumers have too many devices and have the attention span of someone with a severe case of ADD.
There are those that would have you believe that marketing has changed dramatically and for some products that may be true, but don’t believe the social media experts and agencies that would have you believe that you need their help to get it right. Here is a list of marketing truisms based on reality, not a sales pitch…
Worldwide mobile-ad spending will reach $6.4 billion this year and more than $23.6 billion by 2016, according to EMarketer. But most mobile ads are disruptive. So why are so many brands, media agencies and marketers giving so little thought to how mobile ads work and how to engage users ? According to Business Week “Traditional advertising doesn’t translate to mobile devices, and companies are still struggling to come up with effective strategies.”