Do you watch cable TV anymore? Relatively few do nowadays. Instead, most folks today subscribe to a service, like Netflix or Amazon Prime, that allows them to watch any movie they want without station breaks and ads.
Digital Marketing is on the rise, and viewers have shifted from traditional media to digital. So – what’s happening ? Let’s take a look.
TV On the Decline
Some people don’t even know what “Prime Time TV” means anymore. Many families from yesteryear would cozy up on the couch after the dinner dishes were put away and watch their favorite shows. You can just imagine how much network TV made on that advertising! Instead, present-day families don’t usually watch together, but the younger generation streams video content up to 30 hours a week on their phones, tablets, or notebooks. That makes these buyers out of range as a TV target audience. If they do chance to watch TV, during the ads they are off doing something else – texting or making popcorn or visiting the Loo. Television advertising just isn’t paying up.
On the Way Up
Advertisers want to go where the potential customers are. Makes sense. So guess where they are going? To the online streaming platforms. Why? Because of cost, target, agility, and story-telling.
HOW MUCH? Each year the amount of money spent on digital marketing has been increasing. So as TV advertising is skidding downhill, digital marketing is streaking uphill. Why? For one thing, it’s cheaper. Much cheaper. A 30-second TV ad could cost hundreds of thousands of dollars – and digital? Sure, employees need to be hired who know what SEO means – let alone know how to get it to work for a business – but aside from that, the cost is minimal. (Just in case you’re not sure – SEO stands for Search Engine Optimization. Huh? Matching the customer with the product, in a nutshell.)
AT WHO? TV audiences are sometimes segmented just based on the topic and purpose of a show – but with digital marketing, one can focus on potential customers just based on their profiles. Somehow those powers-that-be somewhere know what “types” of people need and want – and each of us falls into a “type.” As a result, digital marketing can personalize the campaign – preaching to the correct choir, so-to-speak. When a purchase is not made with the first marketing nudge, no worries – the ad is re-purposed and approaches the potential customer with a different angle.
EASY DOES IT. Digital advertising can be quickly and easily modified. The text doesn’t seem to connect with the target audience? No worries. It’s a quick edit to create different wording. The product has been updated? No worries. It’s easy to replace an old photograph with a new one. Not only that, but it’s easy to track how many ads have led to a click – every marketing campaign’s aim. Few clicks? No worries. Tweak this and that and try that for a while. With television advertisements, a company is pretty much stuck with what has been created, unless they want to go through the entire process to replace the advertisement. That sounds pricey. Exactly!
TELLING A TALE? Television advertising was often successful because a story was told. We all tend to be a sucker for a story; we somehow get pulled in – and before we know it, we’re reaching for our wallets to buy something we might not even need. The stories have followed people to where they are viewing. Now we’ve got video ads online, too. Both TVs and phones have screens, but even though one is much smaller, phones and other devices get much more screen time than TVs do.
So Then, Why TV?
You would think that this form of advertising would just die a timely death. It’s old-school. It’s previous generation. It doesn’t work. Not necessarily so. Apparently when people do watch TV, they tend to watch TV – even the advertisements. This phenomenon is encouraging, so businesses are still advertising their wares on the telly. Maybe digital marketing is shoving TV advertising out of the #1 spot, but snuggle up late one night to watch a rerun, and you’ll still see a commercial every 13 minutes.
How about you?
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