In Grant’s article The Revival of Traditional vs. New Media: An Ever-Changing Media Landscape, he talks about the current state of the media landscape and the importance of having a good balance in your advertising media buys. With the continued emergence of highly targeted online advertising options, it can be tough for a business to decide where they should invest their ad dollars. Is traditional media dead? Is online advertising a good fit for your business? Of course every business is different, but for the most part having a good mix of old and new media produces the best results. Here are five tips for navigating the current media landscape and balancing your media plan:
- Learn the Best Practices of Each – In order to make the right media choice for your business, it’s important to truly understand the various types of media available and how to best utilize each of them. Since traditional media has been around so long, many business owners already have a decent understanding of how print, radio and television advertising work. Getting the hang of new media may require some research. If you have a good understanding of the media choices available, it will be much easier to decide which ones will best help you reach your marketing goals.
- Don’t Neglect Traditional Media – When looking into your media options it can be easy to get swept away by all the trends and crazes in new media. Although it’s important to monitor these trends, don’t let them cause you to neglect traditional media all together. Even with the advanced capabilities of online advertising and the emergence of online publications, television, radio and other forms of traditional media have stood the test of time. Depending on your business and target market, traditional media may still be the best way to reach your customers.
- Technology Drives New Media – Although traditional media will never be completely obsolete, it’s important to understand that technology really drives the media landscape. After all, there’s a reason online advertising has so much buzz behind it. The targeting and tracking capabilities of new media far exceed anything traditional media can offer. Don’t make the mistake of writing off new media options as “fads” or they may end up being the biggest opportunity your business missed out on.
- Know Your Audience – The most important step a business can take to determine which mediums to use is fully understanding your target market. This means conducting in-depth research and putting together a target market profile to identify your key demographics along with their behaviors, buying patterns and media habits. The more you know about your target customers and which media types they use, the easier it will be to choose the right media mix to reach them.
- Have Patience – Mastering the media landscape can be frustrating. You need to constantly analyze what is working, test different methods and make frequent adjustments. Often times right when you think you have it figured out, everything changes. Have patience. It takes practice and experience to get the hang of media planning. The more you understand the current state and direction of the media landscape, the more accurately you can balance your media buys accordingly.
If your business needs help developing a strategic, balanced media buying plan, give us a call at 701-478-1111 and ask to speak with a Marketing Advisor or visit absolutemg.com/contact. We have the knowledge and skills to create a plan that is optimal for reaching your target audience.