Traditional media ad spend fell another 3.5% in the UK throughout 2017 according to a research by global information company Nielsen.
Traditional media incorporates the likes of TV advertising, Radio, Newspaper, billboards and even door to door leaflet dropping but continued its decline in market share despite still equating for 60% of advertising spend in the UK among major players such as Sky, McDonald’s, Unilever, and P&G.
However, despite this, for the final quarter of 2017, total ad-spend increased by 3.5% which is the 17th consecutive quarter that the sector has seen a rise due to the increase in digital ad spend as traditional methods continue to decline.
Does Traditional Media still have a place?
Once upon a time, a local business’s first marketing move would be to stuff as many leaflets in as many doors as possible, the ability to create targeted ads on platforms such as Facebook and Google Adwords and track conversion accurately for sometimes less cost has transformed the way industry has evolved.
These types of media are accessible for all and a great way to refine your marketing strategy, but traditional marketing will always have its place even if its monopoly on the sector is in decline.
As long as there is demand and an audience, then traditional methods such as TV and Radio will never die out and in some instances, the price media outlets can achieve from one advert space is more than most annual Digital Marketing budgets.
For example, a 30 second TV advert during halftime break in February’s Super Bowl costs a whopping $5 million but there is a problem.
Getting your message seen by a vast number of people may be a good thing, but surely it is better to get your message seen by the right people at a fraction of the cost?
This is common sense and must form the basis of any ad spend you wish to make. Understanding the profile of your customer (i.e. target market) is something that digital marketing thrives on with the ability to laser focus, so you only spend money on getting your message to those that are interested in your product.
Traditional methods still have a place and always will, but refinement is the keyword here and that is the main differentiator.
Traditional marketing is a numbers game whereas digital ad spend is all about specific targeting and these statistics above suggest that refinement is the way forward.