Media is used by consumers for two basic reasons
Information – TV, Internet, Newspaper, Magazines, Yellow pages
Entertainment – TV, Magazines, Newspaper, Internet, Radio
Newspaper, magazines are in reader’s control since they choose what they want to read. TV is more passive, but newer technologies enable viewers to record and choose what they want to see. Hence, there are 2 types of media,
Controlled Media - Magazines, newspapers, direct mail, yellow pages, TV(via DVR, DTH), Internet
Uncontrolled Media - TV, Radio, Outdoor
Marketers themselves are feeling that traditional media like TV, Radio,
Newspapers, and Magazines are less effective in producing sales now,
because markets are changing and media must reach the best prospects.
Traditional media are facing issues since market is getting segmented.
Today, consumers want more information about new and established
products, which cannot be communicated thru’ mass media. Consumers are
using Internet as the source of real time information. Traditionally,
segmentation was done on demographic factors like age, income. It
didn’t have factors like lifestyle, interests, and media habits. The
focus is shifting from mass messages to focused messages targeted at
specific groups.
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Continuing with the article,
*THE NEW CONSUMER
*Technology has made it economical to reach specific group of consumers. Audience fragmentation has become the dominant characteristic of media in 21st century. Number of TV Channels has increased exponentially in past few years. This proliferation in viewing choices has resulted in erosion in the viewership share of broadcast networks, since total viewing hours still remains same.
This results in splintering of audience among channels which may not be relevant to advertisers. A tourism firm may advertise on tourism related channel, but the effort goes waste if its audience doesn’t watch the channel. Hence it becomes necessary for marketers to look at other venues to target their consumers. Digital TV and Pay-per-view systems are not likely to increase fragmentation since they don’t allow advertising. However, introduction of PVR(Personal Video Recorders), which allows viewers to create their own TV network by choosing programs that interest them, and skip all commercials, threatens the capability of TV as medium for enhanced visibility and reach.
There is increasing clutter and proliferation and fragmentation of media alternatives, as well as the challenge of getting noticed in a world governed by empowered and skeptical consumers. Marketers are trying to explore new ways of reaching, connecting and engaging with consumers. Marketers are realizing that a’one message fits all’ approach or’mass marketing’ is not delivering the desired results; consequently we have seen a shift towards one-to-one marketing.
As a result of tech changes and audience fragmentation, greater research and understanding of consumers is required for effective media planning. Media planners now need to ascertain how their plan helps achieve marketing objectives.
*TRENDS
*In the West, ratings are showing that people are not watching commercials. The increased push for commercial engagement, coupled with the continued depletion in broadcast ratings has caused media buyers to move significant portions of their clients’ budgets to other engaging media like cinema and events.
Mass media advertising was relevant for products with little or no differentiation, distributed on large scale. But today, customization and personalization are in demand. One size no longer fits all. Today’s consumers have discovered new component of marketing i.e. word of mouth. Message spreads fast thru’ social networking sites and consumer feedback sites, and shapes consumer mindsets, and attitudes towards brands.
The new media that are being sought after by consumers and advertisers are,
Broadband – Speed enables consumers to get information, book tickets, buy products. It helps customers do business with companies on their own terms.Wireless – Proliferation of multimedia viewing(Web and TV) at home is becoming common. WiMax promises to bring wireless communication to entire cities.Search – Search engines offer the consumer control to gain access to information, entertainment on their own termsNetworks – The promise of community networks is the empowerment that comes from being informed, unified, and connected with like-minded people
Advertising on Demand is seen as the future of advertising, where users choose to view certain commercials based on their needs and wants, and have those displayed during program breaks instead of the usual pre-decided commercials. The issue is that people don’t always have a need or want, and AOD presupposes a state of awareness. Another issue is whether consumers will participate or show interest in this concept at all.
Experiential marketing is also a new evolving trend. It is the offline expression of ability to involve, and becoming one of the hottest touchpoints today, offering consumers’ tangible and sustainable experience. But sometimes, when event doesn’t match brand personality, event marketing fails to achieve the objectives.