Cogito “digital” ergo sum
The binary nature of digital technology has created a corresponding binary belief in the immediate marketing invincibility of digital.
With the expenditure of digital eclipsing traditional TV, digital platform owners would have you believe that traditional advertising mediums are largely obsolete. However, experienced marketers will tell you that cross-platform marketing powers the media mix itself, and all mediums are viable, if there are valuable audiences.
The popular saying attributed to Wanamaker of, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half“, was going to be solved by digital.
Except that it hasn’t.
Fraud, measurement ambiguity and unverifiable audiences along with dubious environments for brands have proliferated at the speed of light with digital technology.
This is not a slight against the merits of digital technology. Digital has made communicationsimmediate, measurable, bi-directional, and ubiquitous across a whole range of audience experiences. It has enabled marketers to engage in direct conversations with consumers.
Let’s face it. The media industry is in transition. Just like the ebbs and flows of print to radio to terrestrial TV, the next frontier is the complete ecosystem of existing mediums refactored by digital, along new ones which digital technology has created. None of the previously mentioned mediums have completely disappeared, but all have been re-engineered, and their economic models impacted.
So, what does this mean?
In order to maximize the revenue of your media enterprise, which likely has audiences that read, listen and see, across a diversity of platforms, you have to engage in cross-media planning and optimization.
“But”, you say, “we have optimization.”
If you are like most enterprises, you likely optimize by individual medium. However, we hear from advertisers and agencies alike, that they want to aggregate audiences across all available mediums.
There are very few operators, however large, that truly optimize campaigns both proposed and in-flight across all their possible linear and digital platforms. They still struggle daily to fulfil that imperative. If you are facing these challenges – there is a solution – reach out and give us a call.