Picture it. A world before we could pause live television, let alone fast-forward or rewind! It sounds like a millennial horror film. Interestingly enough, some of you may remember the reality of this world all too well; only in recent years have we become so accustomed to this kind of flexibility and control.
We live in a new era where online servers like Netflix cultivate increasingly temperamental audiences. Over time, all of these digital media outlets offering up ad-free viewing experiences has made us extremely annoyed in the face of forced advertisement. We don’t want pesky commercials interrupting us while we try to binge watch Game of Thrones. It ruins the mood!
Unfortunately for advertisers, our new mentality is causing them some serious problems. People are ditching their cable subscriptions left and right for less ad-heavy online methods of watching whatever’s trending. Several advertisers have noticed this trend and are making adjustments. Allstate, for example announced that it plans to move 20% of their TV advertising dollars over to digital platforms this year. In fact, Michael Nathanson of MoffetNathanson suggests that the digital shift will reduce TV budgets 3% to 5%.
Where does this leave us? Let’s say that your company is trying to market a new or existing product through video. Should you climb on board and leave broadcast for digital media buys?
First of all let’s define a media buy for those who might be unfamiliar to the term. Try thinking of a media buy as a segment of media real estate. It’s that time slot in which a commercial plays on a certain broadcaster. More advertisers than ever before are now moving their way into the realm of digital media buys. Same concept: the time slot in which a commercial plays before a video on an online platform such as YouTube, etc.
Now that we’ve got that down, let’s talk about the benefits of going digital.
First and foremost, the sheer amount of internet traffic is incomparable. YouTube gets approximately 4 billion views per day – how can you beat those numbers?! All of this traffic increases the odds of viewership and impressions.
But traffic’s not the only thing that increases those odds. The various digital platforms that can be utilized to market your message gives you exposure on multiple different levels. Here are a few ways that advertisers employ digital platforms…
- Search engine optimization
- Search engine marketing
- Email marketing
- Pre-rolls (ads that stream before your video)
- Display (banner ads or ads that appear at the top and on the sides of your site)
- Endemic Sites (ads that specifically relate to your site)
- Mobile
On these digital platforms you also have the opportunity to extensively segment your target audience. When you travel from site to site, most of the time that information is being collected and marketers are analyzing it. This gives them the ability to identify which ads would be most relevant to fit your needs so if you’re going to spend money on advertising, at least you’ll know it’s getting to the right people.
Tracking! Remember that bit about collecting data on your internet habits? Well on several digital platforms you can track how well your advertisement is perceived and who’s pursued it further. This gives you the power to analyze the success of your ads and quickly adjust if necessary.
Another key component to going digital is the ability to interact with your audience. Look at the success of interactive platforms like Twitter and Facebook. The proximity of placing your ad online gives you a greater chance of facilitating client/consumer interaction, and who doesn’t want that?!
Of course, with all of this in mind, broadcast is still a viable and effective way to get your message out. Depending on the situation, it could prove an equally appropriate or even better solution for you than pursuing digital media buys. Big time advertisers are clearly investing in both.
These days it’s easier than ever to get your message out there. As with everything, it’s a changing world so research your options and take a look at the wonderful opportunities that this ever-changing media landscape has to offer.