What were you doing in the 90’s? Were you headed to the mall to get some new clothes at Eddie Bauer and check out the latest technology at Radio Shack and Sharper Image? Maybe on the way home you stopped at blockbuster to grab a movie for the family. Social Media, and smartphones didn’t exist and companies like Google were in their infancy. Radio was beginning to be disrupted with companies like Napster, but Pandora, and Spotify were not around. Satellite Radio existed but had not picked up any steam. In television, all of the top shows were on broadcast. Seinfeld, The Simpsons, ER, Friends, and Frasier led the way. Today top shows are distributed on Cable, Broadcast, and streaming services like Netflix…continue
If so much has changed, why are some agencies still planning budgets and media the same way? One thing I noticed from my days in cable and radio was I received the same RFP’s every quarter, and the budgets and daypart distribution never changed. In radio, when the diaries went away and more accurate numbers were released, the playing field evened, right? Despite mass erosion in audience, top stations based on legacy still took all the dollars.
In Cable, the Broadcast stations would eat up 85-90 percent of the budget while 10-15 percent was left to all of the cable networks. This occurred when about half of all viewership leaning to cable. When new ideas were pitched to the agencies, they would either get stopped before they could get started or get lost in a handful of different departments not sharing information.
Radio, Television, Print, and Outdoor are still important pieces of the media puzzle. Incorporating Social Media, Search, Email Marketing, Display and Online Video are also a integral part of the mix. Companies in this new fast paced and quickly changing media landscape need to walk a fine line. It is important to adopt new media outlets and shift your marketing with the movement of the media consumption. Doing this, while maintaining a place on the foundation of the traditional media that has been working for you is essential. While your message is extremely important, reaching the right target is just as important. That target can be found in both traditional and non traditional places. Don’t get left behind.