It seems that advertising is slowly turning into a two-horse race. In the days before digital media, there was a three-way split between print, radio
While TV is admittedly a more mature market, the increase in display advertising is hard to ignore. It’s apparent the industry is turning to the two largest mediums to deliver the bulk of their advertising. The Internet and TV are far and away the biggest marketing channels available according to audience size and time spent on each medium.
We see a further consolidation of other media types when we look at some of the declines in advertising spend. Newspaper advertising is down 2% year-over-year, magazine advertising is down by 1.9%. Even radio suffered from decreased spending during the same time period.
So how does this affect your advertising budget looking into 2014? One benefit is decreased complexity for you advertising plan. Instead of throwing dollars at newspapers and radio, you can shift your budget to TV and online display.
In 2014 it will be important to expand your digital strategy to find new customers online. More people buying digital media means more competition, so developing correct targeting techniques will be crucial.
If you’re curious about the different types of display available such as retargeting or pixel targeting, contact us and we can give you an overview of the types of targeting available for your business.