Traditional Media Falters. Attack!
First newspapers, now broadcast are hemorrhaging audience share. Seize the moment.
First newspapers, now broadcast are hemorrhaging audience share. Seize the moment.
Not a day goes by without a report on the declining health of offline (or traditional, if you prefer) media. Not only are broadcast, print, and, to a lesser extent, radio losing audience, but advertisers are howling over the methodologies used to measure traditional media audiences as well. They’re getting burned by audience shortfalls.
A brief recap of recent events:
Four weeks ago, it was newspapers. The October 15 cover of Editor & Publisher — the bible of the newspaper industry — questioned whether the fact advertisers are starting to demand actual daily circulation numbers and are no longer content with averaged weekday, Saturday, and Sunday figures is “good for the industry.”
A week later, Ad Age reported the magazine industry is contemplating revolt against its circulation audit (ABC) for suggesting it should provide advertisers with real subscriber and sales data that’s verified more often than every six months.
Last week, The Wall Street Journal reported the broadcast TV industry is irate because Nielsen reported a dramatic drop in young male TV viewership. The industry suggested the problem is Nielson, not the fact these guys now spend their time playing video games, watching DVDs, and surfing the Web.
What does this mean? Has the liberal press conspiracy we hear so much about targeted traditional media companies to pick on?
I’ve worked in interactive advertising for over 12 years. I’ve helped sell, deliver, or measure targeted ads in almost every imaginable form of interactive media: audiotext, videotext, computer bulletin boards, proprietary online services, the Web, email, mobile phones, desktop applications, streaming audio and video, iTV, computer games, digital billboards, and navigation systems in cars. I’ve waited patiently for the moment when competitors in offline media would be at a disadvantage. That moment has arrived.
Now’s the time to strike. Now’s the time to attack the weaknesses of traditional media offerings from a position of “data strength.” Here’s how:
Jim Spanfeller, president of Forbes.com, showed the way last year when he threw down the gauntlet with a performance guarantee. Now’s the time to challenge traditional media head to head, using measurable results as the benchmark. There’s no reason why this should be a fair fight. Challenge traditional media to deliver one audience group it already lost to the Internet: C-level executives; 18-34-year-old males; small business owners; or heads of two-income households with school-age children.
This is the future. Start selling it now!