Traditional Media Advertising Decline, a Paradigm shift
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Author: Rob Scribner Traditional Media Advertising Decline, a Paradigm shift
By Rob Scribner
For over 10 years, I have been in the internet web design and marketing industry. During that time I have seen a paradigm shift in the way clients view their websites.
In the early years, clients wanted a web site to support their conventional advertising. Now advertisers seem to only want conventional advertising to support their website media structure.
Chairman Bill Gates spelled out his vision of the future of media , in front of about 1,000 advertising professionals in Seattle for Microsoft's Strategic Account Summit of its top advertising customers.
"We're saying newspapers will go online, and there will be massive innovation that comes out of that," Gates said. "We're saying that TV, the biggest ad market in the world, will completely go online and have the kind of targeting interaction that you only get out on the Web today.
"As dramatic as things happening on the Web are, that's actually what all advertising ... will be in the future."
Gates painted a grim picture of the transition for traditional media.
For the past few years, I find myself supporting client more on web marketing, than web design, and SEO. Even good SEO websites need more. Content and Back links have to be a factor in today’s media advertising.
Business today must focus on SEO, banner graphics, web content, and ad placement on the web. The world is becoming internet dependant. Companies like Craigslist, and Twitter have changed our generation to find-it-quick shoppers, and news readers.
Forrester Research released its five year forecast that estimates interactive marketing spending from 2009 â€" 2014. Forrester predicts that interactive marketing in the US will near $55 billion and represent 21% of all marketing spend by 2014 and will include search marketing, display advertising, email marketing, social media, and mobile marketing.
More significantly however, overall advertising in traditional media will continue to decline in favor of less expensive, more effective interactive tools and services.
Forrester analyst Shar VanBoskirk alerts marketing and media professionals with a dire warning, “The cannibalization of traditional media will bring about a decline in overall advertising budgets, death to obsolete agencies, a publisher awakening, and a new identity for Yahoo!â€
The majority of budget appears to be earmarked for search marketing, even though the search landscape is rapidly evolving to include real-time updates and also social, community and micro networks. As a marketing professional seeking to tap into spending
and visibility trends, take notice to activity in Mobile and Social Media over the next five years.
The days of Newspapers, Phone Books and Magazine advertising has all changed. Now, small and large companies must master banner advertising, social networks and ad placements on the internet.
The good news is it can be more cost effective, and allow business to create a online customer base, just by supporting opt in newsletters. Selling products and services will soon be just a push of a keyboard away for advertising success.
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