Media & Marketing 3.0

Over the past several years I have reflected frequently on where we are in the evolution of media and marketing — with one (1) goal in mind:  what is the best way to market and promote a product or service RIGHT NOW.  What is the How/What/Where/Who?  To answer this question effectively it is helpful to review where we have been over the past 90 years.  There have been three main phases:
  1. Media & Marketing 1.0:  1920-1955 (Pre-Television Era)
  2. Media & Marketing 2.0:  1955-2009 (Post-Television Era)
  3. Media & Marketing 3.0:  2009 onward (Post-Digital Era)

In today’s world — the Post Digital Era — traditional mass media are in decline.  Just look at the numbers for newspaper, television and radio advertising.  New media (web, email, social and mobile) are of course on the rise.  Look no further than what major brand marketers and consumers are doing:

  • In 1999 mainstream media (TV, Print, Radio) captured 98% of all Ford Motor Co’s advertising dollars in North America.  Today it captures less than 70%. (source: Ad Age 2009)
  • Today internet advertising is greater than all broadcast radio ad spending (6% for Radio, 8% Internet) (source: NAB & IAB)
  • In 1985 there were 2 out-of-home audio choices (terrestrial radio, the Walkman).  Today there are at least 5 choices (satellite radio, mp3 players, Internet radio, terrestrial radio,  iPhones).

Bottom line: consumers are consuming media in many more ways than they were 10-15 years ago — thanks to the Internet.  And within digital media there are dozens of choices for advertisers to make when they decide on how to push out their message.  Below are just a few…12 to be exact:

web banners
email
paid search
behavioral targeting
widgets
social media
SEO (organic)
video
mobile media
iPhone apps
iPad apps
Internet radio

This list is not all encompassing either.  There are more areas within digital.  The point ultimately is not to get overwhelmed by the plethora of choices but to embrace them…and to find the sweet spot that is Marketing 3.0.  The diagram up top is a rough illustration of this.  Somewhere between Traditional Media, Internet and Mobile/Guerilla, is the right mix for any marketing campaign.  It is a more complicated world now; so the degree to which marketers become skilled “media mixologists” is more important than ever.

Embrace the choices,  embrace the mosaic of ways to get the message out.  You will be surprised and delighted when your mix hits just the right note.

Advertisements

About samkimball

We are living in a transitional period where the Internet, now established, is going through adolescence. No longer the new kid on the block, the web is now central to the world of media and marketing. And yet traditional media, though in decline, is still important. It still reaches and influences many millions of consumers. Those who succeed in Marketing 2.0 will skillfully combine digital with traditional. There’s a lot of game yet to be played… About Me I am a veteran of the digital media world and have also spent time working for traditional media giants. In 1999 I left BMG Entertainment and joined a web startup called NextAudio.com. One of the original developers of Internet-delivered, personalized radio. From there I did stints as Director of New Media at Clear Channel and VP, Strategic Sales at Internet Broadcasting/NBC Television. In 2006, after 4 years as head of Business Development at Emmis Communications in New York (where I tripled the sponsorship business), I spun off the company’s concert and event division into Marquee Concerts. 6 years later Marquee is a leading regional player in the concert industry, producing 70 events per year. I now head up the Advertising and Brand Sales business at Livestream, the market leader for real time event coverage. With simple to use technology, our platform allows anyone to broadcast live to the web, as well as being the top destination for live content from around the world. Our content partners include Facebook, The New York Times, ABC News, CBS News, Associated Press, HBO, AT&T, PepsiCo, Electronic Arts, Adidas, The Academy Awards, Warner Bros. Records, Paramount Pictures. Livestream operates with over 120 full-time staff members in 4 offices—in New York, Los Angeles, Bangalore, and the Ukraine. The service is available for free (advertising-supported) or as a feature-rich, monetizable, premium subscription for business. The New Livestream (in beta as of Oct. 27, 2011) is an innovative new platform, that combines live event coverage with real-time photos, text, and video clip updates posted using web browsers or mobile devices. The technology supports live blogging, live and on-demand video, and real-time posting tools. CONTACT 347-931-4340 LinkedIn: http://www.linkedin.com/in/samkimball Twitter: http://twitter.com/SamKimball
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