Several clients have asked us recently whether they should continue to target traditional media with their marketing and communications. It’s a valid question, given the decline of traditional or ‘mainstream’ media, the shift of advertising dollars to social media and the real advantages new media offers in terms of rich data, metrics and the opportunity to target. Yet, the reality is to build a brand effectively you still need both. Here we take a look at why.
- People still consume traditional media
According to The Digital News Report: Australia 2016 traditional media (TV, print and radio) is still our main source of news (52.3%). Of course, depending on your target audience, this varies. Younger consumers (18-24 year olds) cite online news as their main source of news, whereas 72.4% of 55+ year olds continue to consume news via traditional channels. You need to know your target audience and their media preferences.
- Old media has undergone a major transformation to include new media and continues to evolve
In the past few years, traditional media outlets (particularly print) have had to change – and quickly – or shut down. While they may still be working out their business model, many outlets now offer news via their websites or newspaper apps, which are the top sources of online news. Media outlets have also embraced social media, recognising that a growing number of consumers use different social platforms to access news. According to the Digital News Report, 18.5% of survey participants said social media was their main news source and this figure is 40.7% for the 18-24 year age bracket.
- Old school still works
If you have been doing bus-stop advertising near your local business and it is still working, then keep it up. New media is accessible, measurable, affordable and interactive (think user-generated content) and it certainly provides a myriad of new choices (for you and for consumers). So it is worth considering your options, but keep in mind it is a complex landscape and the rules are always changing. If you have a winning formula then there’s no need to ditch it for the promise of the latest shiny, new thing. It comes down to what’s best for your business.
While it is clear the traditional media industry continues to suffer as people shift their focus online, it is equally clear that traditional media is not giving up without a fight. This is why you have to keep up with both – for now at least.