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.

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