It is rare to find people watching TV as they used to do in the past. The younger demographic finds its more convenient to use the television to stream content or cast from their phones. The reason is simply that they no longer want to watch networks or cable programming riddled with ads.
Ivan Konovalov, the Customer Success Manager of Semalt Digital Services, shares the valuable differences between TV and social media marketing.
TV Ads and Cord Cutting
Few people seem interested in what goes on in television. Smartphones have become so commonly used that the television may go unnoticed even when it is on. Smartphones give users the chance to watch on their phones. When television starts airing ads, it is highly likely that users will switch them off, change to a streaming service, or turn to their mobile phones.
Print media gave rise to radios that gave rise to televisions. At each phase, people thought that each invention would erode the predecessor. However, as was the case, the rise of social media has not completely eroded the need for television. Social media is heavily cutting into the television industry, resulting in a paradigm shift to digital.
Digital Versus TV Growth
Digital spending overtook TV ad spending last year with $72.09 billion against $71.29 billion respectively. According to eMarketer, digital spending is set to experience with a year on year growth of $10 billion as compared to TV's $2 billion.
The link between the two mediums is that they are both growing. Nevertheless, the digital media takes more precedence. Content streamed on devices usually starts on TVs but ends up on a streaming service as a source of extra revenue.
The Shift by Advertisers to Digital
Adidas Chief executive Kaspar Rorsted confirmed the suspicion that people are shifting to digital by telling CNBC of how their younger consumers engage with them more on mobile devices. Digital engagement, therefore, serves as a valuable resource for them. Adidas consequently decided to increase digital spending in the next four years. One of the ways to be successful is to create engaging content that users can relate.
However, other companies like Taco Bell seem to work against this trend by shifting back to radio and television. In a conversation with Campaign, SMO Marissa Thalberg said that the company experienced regressive results with their digital marketing campaign, claiming not to have met set targets. Although they seem to be going against the trend, it serves as a business opportunity for them, especially for the older customer base, as the new marketplace.
A huge revenue does not guarantee success, and putting investing everything on digital without the right content is a huge mistake.
Adapt or Die: Agility in Question
Provided that digital marketers do it in the right way, there is a great potential for growth. Statistics indicate that people who place digital marketing at the top of their campaigns experience better returns and in record time, as compared to other traditional methods. With that said, this only works if these people create unique content, that engages the customer due to its relevance, and makes it available on the devices that have the attention of the target audience.
Marketers find social media a great opportunity for engagement with customers. It also provides a client base that opts to pay to avoid advertising. If a marketer is unable to identify these opportunities, they will not only lose potential leads but also stand not finding them in the first place.