With the decline of off-line media such as newspapers and print directories, most businesses are beginning to take their dollars online. This is illustrated by US Total Online Advertising Spending for 2011 estimated $32 billion compared with $23.6 billion in 2008 (Source:eMarketer). If you’re like most advertisers, right about now, you’re stuck asking yourself which ad mediums make sense to focus your energies and hard currency? Alright, let’s talk about certain trends that may change the advertising game forever.
Brand Perception Enhanced by Interactivity
Most successful magazines have an online counterpart that features similar content from the printed version, but it’s those marketers who are incorporating interactivity into their online versions that are finding that their brands’ perception by readers is enhanced.
Affinity’s syndicated VISTA Digital Service, used to measure the effectiveness of ads sent through iPad Apps and other mobile platforms, supports that magazine readers are stimulated by digital ads that include sponsored videos, photo galleries, and 3D product views. Amongst readers that touch screen to watch a sponsored video embedded in an ad, 88% report the experience enjoyable, and 89% view the advertiser as cutting edge for including this media in their ad.
For readers who viewed photo galleries showcased through a digital magazine ad, 88% report that they are able to learn more about the advertised product. Plus, nine out of ten review the brand as innovative. In addition, readers who touch screen and slide on an ad to access the 3D view of a product, 92% report that this interactive feature improves their magazine reading experience as a whole, while the same % perceive those brands incorporating 3D views into their ads to be innovators.
Apps a Significant Source of Advertising Revenue
In magazines, for instance, it is a small amount of the 2.4 billion that eMarketer estimates magazines will earn in online advertising revenue this year, that the research firm does not measure it separately. On the flip side, that will likely change as more consumers buy tablets, the media where most consumers use apps. Tablet sales should nearly triple to 43.6 million units this year, reports eMarketer, then nearly double to 81.3 million units next year. The digital age is upon us.
Magazine publishers are betting on the tablet format, and with these aforementioned numbers, who can blame them. Time Inc. recently announced that it would have tablet formats for 17 out of 21 of its titles including Sports Illustrated, Time, Fortune, and People. Amazon is also rumored to be launching a tablet soon.
The digital model versus the print model is unproven and there exist many uncertainties in how to make that medium profitable for publishers. This is why many publishers are taking a wait and see approach to adapting the digital model. In my opinion, with the proliferation of all the digital interactive media online, and certain print media, like magazines still viable options, for advertisers the answer is all encompassing.
It’s not just enough in the Information Age (soon to be Digital Age) for advertisers to be in one medium but to be in all places. We live in a society where people will be watching television, talking on their smart phones, interacting with their iPads, net books, desktops, and reading their magazines, all at the same time; Or, if not at the same time, definitely that day.
This isn’t back in the day when there were only a couple of options for consumers to receive information. My grandfather remembers when radio and newspapers were all there was. Maybe the question isn’t which medium, but how many mediums can I recruit to get my message heard, in the most cost effective and user friendly way, to ultimately reach the majority of my target market?
Eric T Dahl works with business owners and marketers across Oregon as a Sales Expert and Marketer. He regularly introduces his clients to cutting edge advertising mediums inorder to help them showcase their businesses and get the most from their advertising. In addition, he sells information technology (IT) solutions to businesses of all sizes.