Tag Archives: magazines

Follow The Media Money

You’ve probably heard the catch phrase, “follow the money,” first popularized in the movie about the Watergate scandal, that detailed the work of Washington Post reporters Bob Woodward and Carl Bernstein.

Since the 1970s, “follow the money” has seen extensive use by investigative journalists, and that’s what the most recent Borrell webinar looked at for 2023 with respect to media advertising dollars.

Media Spending Forecast

On November 29th Gordon Borrell and Corey Elliott presented Borrell’s Fall 2022 Fall Survey of Local Ad Agencies. Here’s how I interpreted the information they shared starting with the Top 5 types of media that agencies said their clients are planning to invest more money into next year, and also the 5 they will be cutting:

            Investing More $$$                Planning to Eliminate

            Streaming Video                     Printed Directories

            Social Media                           Newspapers

            Search Engine Marketing        Other Printed Publications

            Streaming Audio                     Magazines

            Website Ads                            Cable TV

At first blush, things don’t look so rosy for print media, however, wrapped into that media category “Website Ads” are the digital versions of newspapers and magazines, to name just two.

I’ve been a digital subscriber to the Washington Post newspaper for a couple of years now and I also read Atlantic Magazine digitally.

When it comes to radio, the number of advertisers who say they will buy more radio ads about equals the number who say they will buy less. In other words, broadcast radio advertising looks to be treading water in 2023.

High Usage, High Effectiveness

When it came to what types of media direct buyers say are the best, we find five of them:

  • Social Media
  • Search Engine Marketing
  • Events
  • Banner Ads
  • Radio

OTT, Streaming Audio & ???

During the webinar I asked the following question:

“Streaming video is called Over-The-Top (OTT),

podcasts & other digital audio is called Streaming Audio,

what are digital newspapers and magazines called?”

Turns out the answer was both newspapers and magazines are included in the media category “Banner Ads” in this research.

So, while advertisers may not be interested in those paper and ink publications, they are interested in their digital products, and their digital offerings compete for the same ad dollars as broadcast radio and TV.

Broadcast TV was rated higher in effectiveness than radio by advertisers, but saw lower usage as one can assume it was most likely due to the cost of television advertising.

Streaming Audio

You can’t help to look at the high interest in “Streaming Audio” and not wonder why it doesn’t command more advertising dollars. Corey Elliott said the answer to this question of why they weren’t spending more ad dollars on streaming audio was simply that “no one pitched them.”

Search Engine Marketing #1

For direct buyers of advertising, Gordon Borrell pointed out that “for the first time in 13 years of surveying, broadcast TV doesn’t occupy the top spending spot, falling to roughly half of what it was in prior surveys.”

What beat broadcast TV was “Search Engine Marketing.”

Search Engine Marketing is a form of Internet marketing that involves

the promotion of websites by increasing their visibility

in search engine results pages primarily through paid advertising.

-Wikipedia

In 2023, DIGITAL will account for $7 of every $10 spent on local advertising and 45% of local ad buyers will purchase their advertising from fewer than 3 media companies.

2023 is forecast to see broader usage of virtually everything.

The media companies that are positioned to enjoy success in 2023, are:

  1. The companies that have invested in training and retaining their sales people in the area of all things digital, and
  2. Focused their company to deliver media products consumers want and enjoy on every digital media platform.

Leave a comment

Filed under Education, Mentor, Radio, Sales

The Great Ad Hack

great-hack-netflix-1564144457The other evening, I watched the Netflix documentary “The Great Hack.” It chronicles how big tech is taking our data, that we freely give away online, by both making money with our information and manipulating us.

The documentary makes one realize there’s a lot for us to be worried about.

 

Data Privacy

In an internet connected world, do we have any secrets? Everything about us is being stored, as we share our information via social networks, our credit card companies, our banks, our medical services – just about everyone we interact with online.

During the course of the documentary, professor David Carroll tries to see his data points as collected by Cambridge Analytica. Spoiler Alert: Professor Carroll wins a lengthy court case to obtain his data points. Cambridge Analytica never produces them but instead paid a fine and plead guilty for failing to do so. Not producing the data points was more important than revealing what they knew about Professor Carroll and giving the world an inside look at what they know about each of us.

Now Cambridge Analytica is liquidating to prevent anyone from ever seeing the data points they collected on anyone.

Our data privacy has always been important, but we’ve traded our privacy for speed and convenience in our internet connected world. The documentary points out that collecting and using our data points is a trillion dollar business that last year saw data surpass oil in value, making data the most valuable asset on earth.

The Persuadables

What Cambridge Analytica did was target people whose minds they felt they could change for the purposes of winning elections for their clients. In the military, such a tool is called Black Ops or False Flag tactics. Its psychological warfare used to induce confessions or reinforce attitudes and behaviors favorable to the user’s objectives.

Cambridge Analytica knew they didn’t need to change everyone’s mind, just a critical mass of people to achieve their client’s objectives.

Why did they do it? They wanted to make money, lots and lots and lots of money.

Advertising is Propaganda

The advertising “mad men” of Madison Avenue came from the propaganda operations of the United States military during World War Two. They took what they learned and applied it to selling cars, refrigerators, homes, soap etc. Great advertising seeks to persuade the reader, listener or viewer to buy a product or use a service.

Is it any surprise to anyone that as social media was born, these same methods would be applied to this platform, only on a level that was not possible through traditional media?

“These platforms that were created to connect us are now being weaponized,” says Carole Cadwalladr, investigative reporter for The Observer newspaper. “It’s impossible to know what is what, because nothing is as it seems,” she adds.

Tech Giants Crush Ad Market

Sara Fischer writes in Axios that the big tech companies like Facebook, Google and Amazon are consuming more advertising revenue than most other ad supported media combined. The reason? They have our data points and know how to effectively use them to get us to do what they want. You can read Sara’s full article HERE.

The eMarketer and Zenith Media data as graphed by Axios Visuals really shows where things are headed. (see below)

Screen Shot 2019-07-30 at 3.36.05 PM

Can Traditional Media Win?

The playing field today is so unlevel, it begs the question, if traditional media – newspapers, magazines, radio, television – can even have a fighting chance to win advertising dollars.

As a consumer, do you think you stand a chance to not be influenced by the tech giants when they are using your own information against you?

I encourage you to go deeper in this subject by both watching the Netflix documentary “The Great Hack” and reading Sara Fischer’s column “Tech Giants Still Crush the Ad Market Despite Looming Threats.”

Then I hope you will share your thoughts in the comments section of this blog article.

The future of our world is being shaped by the lack of data privacy.

I’d love to hear your thoughts.

5 Comments

Filed under Education, Mentor, Radio, Sales