Thursday, July 30, 2015

Marketing and the Media is Changing

A future in which you identify the nature of the sector (culture) and in which your client operates is changed.

The professional in this arena now has to:

  • Identify the sector (culture)
  • Identify the key descriptors (concepts) common to, and unique to the sector (culture)
  • Identity changes and the rate of change
  • Identify the media of most significance to the culture e.g. Newspapers, magazines, radio, TV, digitally enabled channels (from Netflix to Twitter).
  • Develop capability to affect the culture.
  • Deliver
  • Evaluate.
  • There is very little future for the practitioner who does not have such skills. The reason is simple. Traditional media has a problem.

The money that once drove most media is now shrinking. The effect of the traditional media as an advertising medium is flagging badly and even the journalists who once enjoyed the services of the PR industry has now turned to Twitter (among other media) to be able to perform well.

There is a lot of evidence.
The revenues of news channels is disappearing.

In the USA, Advertising Age said that measured-media spending fell by 1.8% over the year to June 2015.

In July 2015 both the Pew Research Center and the Knight Foundation found that Facebook and Twitter users across all demographics were increasingly using the social networks as news sources. They are however seeking out different types of news content on each platform.

There are commercial drivers too. Jon Moeller, chief financial officer at Procter & Gamble, said at an investor conference in 2015: "In general, digital media delivers a higher return on investment than TV or print."

In 2015, the UK will become the first country in the world where half of all advertising spend goes on digital media.

Just over £16.2bn will be spent on all forms of advertising in the UK, including TV, newspapers, billboards, radio, online and on mobiles and tablets, according to eMarketer.

Digital advertising is expected to grow by 12% in 2015 to £8.1bn, making the UK the first country in which £1 in every £2 will go to digital media. The internet is expected to overtake TV to become the largest medium for advertising in 2016.

To what extent is this reflected in the activities of the CIPR, PRCA and universities?

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