The End Of Lazy Marketing

According to Marketing Magazine's Chris Powel, Digital spending is now close to one third of all major media spending! "Digital is on the verge of accounting for one third of Canada’s major media advertising pie, with spending increasing 10.9% to $3.79 billion last year. Digital now represents approximately 30% of all advertiser investment in reported media.

Advertisers invested $12.05 billion in major media advertising in 2014, down slightly from $12.15 billion in 2013, according to the Net Advertising Volume Canada interim report published by the Television Bureau of Canada (TVB).
Spending in unreported media, a group that includes catalogue/direct mail and Yellow Pages, was $986 million, for a total estimated advertising value of $14.03 billion – down 3.1% from $14.47 billion in 2013."

Without a doubt this is a result of having measurable advertising options and marketing people who actually care whether their advertising is making a difference. Before 1995 the only accountable advertising method avaiable to the average marketer was direct mail. And we used a ton of it. Those early marketers who wanted to produce a specific measurable result with their advertising could direct part of their budgets to methods that they could measure. The rest went to mass marketing methods that allowed you to "spend & hope it all turns out". 

"All traditional media with the exception of out-of-home saw declines ranging from 15.4% (consumer magazines) to 0.2% (TV) last year.

Digital revenues, meanwhile, increased 10.9% to $3.79 billion. Digital has added a whopping $3.2 billion in new advertiser spending in just 10 years, an upward trajectory that shows no sign of leveling off."

And the marketing world is beginning to show signs of settling - a little. Digital Advertising came at us very fast. So fast in fact that the average marketing person had little time to truly understand the changes. As we read more and tried more we began to understand what each media offered us. Each one has their strengths and weaknesses. I know those committed to social media marketing and think it is the ONLY solution on the planet may disagree when I say it has it's pros and cons, but indeed, for most marketers, it does. 
Marketers have a job to do. Leads to generate. Sales to increase. New channels to open.

They now have a wide variety of ways to do it. An early task is to decide which media are best for which tasks. The more we understand all of these new digital ways to advertise, the more the market will settle and our jobs can become a little more sane again (wishfull thinking I know). 

But to be sure - no single form of advertising or promoting is a panacea. It takes a great mix and a true, objective understanding of how each form of promotion contributes to the whole. Now advertising and promotion requires thought at every stage. No more "because that's what we've always done". This may well be the end of lazy marketing.

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