The marriage of big data and digital advertising should be able to deliver accurate attribution statistics for media buyers. With so many digital channels now available, your clients want to know if they should put more money into email or if they would reach more consumers with a video ad campaign. Good attribution modeling can give them answers.
“While the spreading legalization of marijuana for medical and recreational uses stands to produce many subsidiary economic benefits, in areas ranging from food delivery to the flagging black light industry, newspapers may not be able to cash in on this emerging opportunity, at least through advertising.”
The sound of the future is getting louder for retailers. For many, that sound is the click of a computer button or the swipe of a screen on a mobile device. Bricks and mortar retailers, especially grocers, would like to hear the sounds of more shoppers in their stores. To achieve that goal, Nielsen analysts say they must innovate.
Last year, GroupM analysts predicted that global ad spending would rise 5.1% in 2014. But the firm has pulled back a bit from that lofty projection. Global ad spending will likely increase only by about 4.6% this year and Medialife Magazine’s Diego Vasquez recently spoke with the firm’s Futures Director Adam Smith about what media providers can expect as we move through 2014.
Which media format has nearly identical reach across age, income and ethnic groups? It’s radio. About 90% of U.S. consumers over age 12 regularly listen to the radio. In the State of the Media: Audio Today, Nielsen encourages marketers to make use of radio because it reaches so many consumers who have money to spend at traditional stores in the immediate future.
By many accounts, consumers will be opening their wallets to spend on home improvement projects this year. We’re not quite at the annual spending level that was reached right before the recession, but homeowners are buying more paint and plumbing fixtures and paying for more contractor and architect services. For many marketers, the biggest question is how to connect with homeowners who are considering home upgrades. The Radio Advertising Bureau has published new research showing the big impact of radio ads on these homeowners.
Are consumers burning out on being constantly connected? Mindshare analysts think so. In its 2014 Culture Vulture report, the company shows that consumers feel overwhelmed by technology. This is just one of several trends that brands should be paying attention to this year.
The consumer magazine market is experiencing huge shifts in the way audiences pay for and access content. The Association of Magazine Media reports that the industry’s ad revenue rose a mere 1.1% in 2013 while ad pages dropped 4.1%. However, some titles fare better than others, even in the print market, and analysts believe that advertisers would do well to target unique audiences through hobby magazines.
Are small and medium-sized businesses (SMBs) still interested in buying ad space in traditional media? Research from BIA/Kelsey’s Local Commerce Monitor shows that the answer to this question is yes and that newspaper and direct mail are the most popular traditional formats for SMBs though digital formats are increasingly popular with SMBs. BIA/Kelsey analysts note that SMB reliance on the older formats may continue to fall though because the ROI numbers don’t support continued investment.
Should marketers allocate their advertising budgets to align with the amount of time consumers spend on specific media forms? This topic is debated regularly in the advertising industry. Media mix allocation deserves another look, according to Borrell Associates in the Future of Legacy Media report, as more consumer time shifts to digital screens. The analysts caution against aligning marketing expenditures with time spent on media formats because doing so ignores the important factor of consumer intent.
The pressure for marketers to develop products and services that will be well received by consumers has never been higher. One way to reduce risk is to improve the quality of market research. As consumers move to more digital media consumption and digital shopping, market researchers are coming to terms with how to collect, interpret and report their findings. The 19th Annual Predictions Issue from Research Business Report contains great insights from experts regarding what to expect in 2014.
The color purple has long been prized. In the Middle Ages, only members of the royal court were allowed to wear purple. If you haven’t heard the news yet, the official color for 2014 is a shade of purple – radiant orchid. Pantone made the announcement last month. In the next several months, we can expect to see apparel and fashion items along with interiors reflecting this shade of purple which is light, warm and possesses a hint of pink.