I’ve been preparing for a session at Singapore Management University’s Future Ready Forum, by researching about the digital impact on business.
One critical element of this is the view that with digital media gaining huge traction, it’s fashionable to talk about those bumbling, fumbling traditional media owners. Slow and stupid, so the thinking goes, they are sure to get run over by nimbler, smarter digital upstarts.
If you talk to the Digital media industry, actually even talking to Marketing practitioners, it seems that Digital is the only place to go to engage with consumers or buyers. Its the new show in town, the current bandwagon, so jump aboard… at your own risk.
Recent research around the world (US, UK, Australia) shows the real situation.
Ad people (People who work in advertising, marketing, research etc) have very different digital behaviour than “normal people” they are real social media consumers, the have really jumped on the new media bandwagon and are leading the way.
And the behaviour of “Ad people” has influenced their perceptions of how “normal” people behave when it comes to media consumption. For example IPSOS Connect 2016 research shows that Ad people significantly overestimate digital viewing of TV shows.
This worrying overestimation is consistent.
There is a consistent and worrying over estimation of usage by consumers and buyers of alternate media devices.
And traditional media particularly TV does a MUCH better job of promoting brands and businesses than the new digital. In the graph above the green bar is the performance of TV vs the performance of the BEST other comparable media- radio, social media, youtube, etc. Again surprising given the hype around digital.
My take on this is sure Digital is becoming more wide spread and pervasive, and sure TV and traditional media usage is declining- but digital is still in its infancy and traditional media is STILL a much better bet to communicate with your audiences.