A February 2012 survey by BrandSpark International in partnership with Better Homes and Gardens, noted that 57% of Americans who watch TV notice advertising on the medium and 40% say that they sometimes notice ads. Further, they stated that when reading magazines, 30% of readers always noticed ads in this medium and an additional 56% noticed ads sometimes. In an obvious reference to the superior position of Legacy Media, the study stated that this meant consumers who watch TV and read magazines are more apt to notice ads than Internet users.
This leads to misleading statements about the power of New Media. Legacy Media have been part of the lives of the older demographics. New Media has been with them for a smaller fraction of their lives.
Among age groups, Internet users aged 18-34 were far more likely than those aged 65+ to notice ads on the web (91% vs 69%), a trend that followed for users of search engines (76% vs 52%), social networks (80% vs 41%) and online (70% vs 32%).
What is important to note is the shrinking power of legacy media and the immense growing importance of mobile and digital. Over 50% of those who have a smart phone, regardless of age, access Facebook via mobile. For those companies interested in attracting sales now and into the future, New Media must be at the center of marketing investment. Everything else (that includes all Legacy media) must be placed in a secondary position.
Some will argue a position of job security and encourage a slow movement into New Media as the older demo still has the lead in spending power. But that is near sighted strategy. The power is in the future, not the present. The ability of a company to move forward depends upon forward thinking that has the ultimate goal of becoming one of the ruling powers of retail and/or manufacturing.
The power of the brand is not what is status quo today but what is the possibility of tomorrow.
While we climb out of the Great Recession, all eyes and efforts must be directed toward tomorrow. It is where hope and opportunity lay. It is where our future resides. What we do today will dictate our future role as leaders in business.
Do we have all of the answers? No! Will we have them tomorrow? Not likely. The point of understanding where we have been is merely a guide to the future. The future demands immediate attention to mobile and digital. That is the only way business can survive.
We are not chasing this quarter’s profits. We are running as fast as we can to secure our survival tomorrow.
Tomorrow is today.