- According to Nielsen TV (88%) and radio (92%) lead in weekly reach with US consumers.
- Marketers are shifting more money to digital but this may not be the best strategy for your product.
- The key to online is asking “do my prospects need to go online to learn about my product?”.
- TV is not dead and still remains the best way for consumers to learn about new products.
While brands continue to shift dollars to online I remind them that the 7th cavalry followed Custer into a losing battle. Nielsen continues to report that the two best ways to reach consumers are with TV and radio.
Does this mean you can forgo your digital strategy? No, it means that you need to act like a consumer not a marketer. Here is an example; a company is introducing a new style frozen pizza in the category. Ask yourself “are consumers going to go online to learn about our new pizza?” Of course not. They’ll see your ad on TV and your coupon in the Sunday FSI’s and pick it up when they go shopping. Consumers just don’t have the time to go a pizza brand website.
Now, on the other hand, if Subaru introduces a new model car you can bet that once consumers become aware they are going to go online to learn about it and see what others have to say. [inlinetweet prefix=”” tweeter=”” suffix=””]There is a direct correlation between the price of a product and whether consumers will go online to research the product. [/inlinetweet]
TV remains the best way to reach your audience and let them know you have a new product if it’s a CPG that can be found in the grocery aisle. The key is to measure the reach and frequency of your spots and ensure that you don’t believe that your commercials are mini movies like Flow in the Progressive spots.
A word about growth
If I keep hearing Wal Street talk about downgrading a stock because the brand isn’t growing I’m going to do myself an injury. If a brand has a great customer base with good sales and has an excellent profit margin why the hell do you need to grow? The objective is to continue to maintain your sales and do whatever you need to do to increase profitability. Some brands, when they grow, lose focus of their customers and that’s not something you can afford to do today.
Wall Street only cared about numbers so you need to ask yourself who is your customer; Wall Street analysts or the people who add dollars to your bottom line? [inlinetweet prefix=”” tweeter=”” suffix=””]Twitter is having a hell of a time with the Street because they aren’t growing enough for them. What they should be measuring is not growth, but engagement of current users.[/inlinetweet]