When you look at the chart below about current ad budgets compared to media usage, it’s fascinating that in today’s technologically driven world, we’re still seeing some of these trends. Here are a few highlights
- Over 3x too much is still being spent in print advertising compared to usage.
- About 4% is under-budgeted in Radio, but when you consider digital Radio, like Pandora and Spotify get lumped into this category, it’s actually not all that surprising.
- TV is still king in both usage and spend, but this medium is set to be severely disrupted in the next few years. Will 2013 finally be the year Apple does to TV what it did to the music industry?
- Even though Internet and Mobile usage continue to increase, the ad budgets still lag, particularly in Mobile.
As you strive to change your plan of attack and rack your brain on how to convert more eyeballs into customers, clients or patients, remember to keep it simple and ride the trends that make sense. The chart above is a simple guide for revisiting your marketing plan this year.
As I've heard before and a basic theme to live by in marketing: “if you have good bait, all you need to do is fish where the fish are biting.”