Photo by Jack Daniel Ocampo Palacios on Unsplash
Extrovert towards its own clients, the advertisers.
Digital ad expenditure is expected to grow by 13% in 2018, while expenditure on TV by only 2.5% (Source: MAGNA)
A universal truth is that the media get a higher percentage of ad revenues, as long as they become more measurable. And today we are showered by an exponentially growing number of metrics on digital, while measurements on TV remain more or less idle as we knew them 20 or 30 years ago. Characteristically outdoor advertising had on one hand its inherent difficulties of physical expansion (road safety issues, city limitations & optical pollution) but on the other, never provided the wide scale/ low cost usable metrics that would support its contribution to the marketing effort. A superb medium for product launches, that is getting marginalized because of – among other – the lack of metrics.
Measurements need to touch on two areas:
- Media performance
- Client Experience (CX)
So the TV channels and the advertisers need to take initiatives. A no-cost idea in this direction would be to establish the Golden Bible. To collect and publish the top cases every year, where TV was the lead medium and the brand gained substantially in the market. This is because the growth of market shares usually covers FMCGs brands only and the narrow circle of their respective industry segment. And very rarely the details of media usage become common knowledge. There are .coms and other technology brands that were convinced that their audiences could only be found through digital. But when ventured on TV, they saw their businesses growing substantially. Thus Channels and Advertisers need to become more open and extrovert in sharing the success stories, or otherwise disinvestment from TV will continue, TV viewers will be getting continuously a poorer experience and advertisers will have strangled the goose that does the golden eggs.
At the same time let’s not forget that Client Experience of the TV viewers, at least in GR, is not positive. Think only of the overconcentration of the GRPs on two only channels. The 60% of Prime time GRPs on Adults 25-54, were delivered in spring 2018 by two only channels. And when it comes to women, the percentage climbs to 67% !!!