In a new study by Brandmuscle, hundreds of local dealers, agents and franchisees across a wide range of industries indicated that “traditional media (newspapers, magazines, radio, television, yellow pages, coupons and billboards) continue to play a significant role in local marketing.”
Respondents rated their level of satisfaction with a variety of traditional marketing tactics. Surprisingly, they chose coupons as having the greatest satisfaction, with newspapers having the least. Coupons performed well in terms of overall satisfaction and were the most widely used tactic with 83% of respondents using them and 77% of those saying they were either somewhat or very satisfied with the results.
Interesting that daily deals like Groupon, had just 29% of respondents using them and nearly one in four stating they were “least satisfied” with the results. Daily deals also topped the list of tactics that affiliates felt were “too risky” (14%).
Other Data to Note:
If you’re targeting high-income Baby Boomers with your marketing, you’ve got to see this new research from the Luxury Institute. It surveyed consumers 21 and older from U.S. households with annual income of at least $150,000 about the types of media that they consume and the time they spend on each.
Affluent Baby Boomers are spending almost twice as much time with print and TV than their Millennial counterparts, while lagging in their usage of social media, online radio and online video. Not surprised? There’s more. Continue reading
Not sure which channels are going to be viable for your marketing budget over the next few years? According to PwC’s 14th annual update of the online Global entertainment and media outlook, some channels are up, and well, some are down.
Here’s a brief summary of the findings:
Consumer magazine advertising
Consumer magazine advertising spend will equal roughly $15.2 billion by 2017, down from $16.4 billion last year. On the flip side, digital magazine ad spending is expected to grow at an annual rate of 9.6% to reach almost $3.8 billion by 2017.
Advertising revenue has dropped sharply in the past 5 years, though is expected to decline more slowly over the coming 5 years. By 2017, newspaper ad revenues will total $18.4 billion.
“The researchers caution that the sector is not in ‘terminal decline,’ at least in the near or medium term. In fact it has shown some resilience, and print circulation has stabilized even as newspaper websites attract an increasing number of readers.” (MarketingCharts.com)
Out-of-home advertising (OOH)
The US out-of-home advertising market was valued at roughly $7.5 billion last year, and is projected to grow to a value of almost $9.6 billion by 2017.
“The traditional roadside billboard remains the key component of the US OOH market, accounting for 65% of total annual revenues. Transit (17%), street furniture (6%) and alternative channels (12%) make up the remainder of the revenues.”
Last year, radio revenues in the US were estimated to be more than $19 billion, and that figure is expected to increase to $21.55 billion by 2017. Much of this is attributed to satellite subscriptions, which are projected to be the key driver of radio revenue growth.
TV advertising spending is projected to grow from $63.8 billion last year to $66.8 billion this year and $81.6 billion in 2017. There are increasingly new ways to reach consumers such as the potential for personalized advertising opened up by advanced TV services delivered to personal computers and mobile devices as well as TV sets.
There’s a lot of meat to this report, so if you want more detail, visit the PwC site. Here’s a 3-minute video synopsis by Marcel Fenez, PwC’s Global leader, Entertainment and media.