f there’s one thing the recession has taught consumers, it’s to look for a bargain when shopping. Now that the recession is abating, consumers are buying more luxury goods. But the rules of the marketing game have changed.
Traditional media is not dead. Spending increases were recorded in some traditional media channels at the end of 2011. This trend means that agencies may have to temper their enthusiasm for new media and include traditional media in their budget allocation recommendations to clients.
Magazine publishers continue to roll out both traditional and digital versions of their publications. While some consumers may be reading their favorite glossy in both formats, others are devoted solely to the online channel. Advertisers need to know the size of this audience and for the first time, GfK MRI is making that data available.
Traditional print media companies are refining their business models for mobile. Publishers believe that the new popularity of e‑readers and tablet computers make the channel more viable. As a result, 59% of surveyed publishers say they have a plan for generating revenue from their mobile platforms.
One of the biggest challenges facing forecasters this year has been economic uncertainty. The continued threat of a double dip recession has merchants staying conservative with respect to ad spending. As a result, some analysts have revised their earlier forecasts for the local digital advertising market down slightly but spending overall for 2011 will be higher than it was last year.
The rise of the digital channel has been nothing short of phenomenal in the past decade. Will digital remain part of a balanced mix in media buying strategies or surge ahead to capture the lion's share of marketer budgets? A recent report from STRATA reveals ad agency and marketer intent about digital.
Empowered consumers looking for digital entertainment are expected to drive expenditures in this category, globally, through 2015. This news comes from PriceWaterhouseCoopers (PWC) in the firm’s newly released Global Entertainment & Media Outlook 2011–2015. Analysts predict global entertainment and media spending will rise from $1.4 trillion (2010) to $1.9 trillion in 2015.
Marketers continue to shift advertising money from traditional media into online display. But click-through rates (CTR), the standard method to measure effectiveness, remains frustratingly low. A new study issued by AdKeeper and 24/7 Real Media explains why consumers aren’t clicking and what marketers can do to improve their returns on display advertising.
The local media market has long been owned by local TV stations, newspapers and Yellow Pages. While the recession definitely slowed this market, the recovery, paired with marketer interest in new forms of media, means the industry is looking at big changes in 2010. BIA/Kelsey analysts value this market at $140 billion.
Over 200 chief marketing officers and senior marketing professionals recently took part in a survey that uncovers the real wants and needs of marketers. "The Agency of the Future Survey," sponsored by Sapient, offers ad agencies a top-ten wish list of those involved with their company's marketing budgets, and with this information, agencies may be able to better meet the needs of their clients.