It’s no secret that things are changing in the world of advertising. A “complete” marketing mix used to include print ads, direct mail, radio, TV (to name a few) and some sort of website so that marketers felt like they were at least present in the online space.
Today, the definition of a complete marketing mix has without a doubt changed significantly. Your marketing mix is not complete without search, social, display media, possibly mobile, and if you don’t have a website, you’re considered archaic!
Just in the past year, consumers have decreased the amount of time they spend with traditional outlets such as listening to the radio (19% decrease), reading magazines in print (16% decrease), reading newspapers in print (15% decrease), and so on.
In my experience, I have noticed this change first-hand just over the last few years. Working as a Marketing Coordinator for a small real estate firm, we thought we had the complete package when it came to a fully-integrated marketing campaign. We had a few billboards, several print ads, direct mail pieces, some basic PPC campaigns in place and that was about the extent of it. Our idea of tracking those efforts was to ask people on the phone how they heard about us when they called. Sometimes we would write it down, other times we would trust our genius minds to remember it later down the road when it came time to renew one of our advertising outlets (“Oh yeah, that’s about to run out. Do we want to renew? I think a lot of people have said they heard about us from that so…yes!”).
Fast forward just four quick years later and here we are, depended on by our clients to measure every single action that takes place—which is almost 100% possible in the online space. This is just one of the countless reasons why things are going digital. Not only are we able to track every move our target consumer makes, we are also reaching more of them in the space they spend the majority of their time in.
Advertisers are shifting efforts to get in front of consumers where they’re most likely to be – online. For example, according to AdAge.com, Converse is currently devoting 90% of their marketing budget to digital and social media.
This brings up the ongoing question: “What does the future of Advertising look like?” I think it already goes without saying that a smart online advertising approach will be vital to the growth of any business.