Media Impact…Where do you place your bets?
Curiouser and curiouser.
A bevy of articles written by a variety of folks in the last 60 days point out the pickle in which advertisers find themselves.
The subjects range from the claim that the future of advertising is in Print, TV and perhaps online (Advertising Age) to a BrandWeek piece talking about the superiority of in-store signage and displays to the article on How Mobile Makes Bricks-and-Mortar Retail Accountable for advertising and for operations.
The article from Ad Age cites the ARF and a Wharton School study findings about how traditional media drives word of mouth advertising and there has been “no erosion of TV advertising sales impact over the years.” Similar comments are made about other traditional media including print. Much of the research backing this up however is from the 1990’s which gives one some pause.
Online is clearly a favorite as more and more retailers offer online resources for their consumers and manufacturers try to find effective ways to tag along. Dr. Romesh Wadhwani Chairman of IRI recently intoned that the “first moment of truth is now in the home rather than in the store because 65% of all shoppers are creating lists and making decisions before ever leaving the house…and if you are not on the list …you are toast!” Getting effectively on that list is certainly critical and having that list work with other online and in-store applications (see the widget in the example below from ShopRite via MyWebGrocer) is absolutely on the mark.
Much has been made of the multitude of manufacturers looking for effective vehicles in this online space, most recently R-B electing to skip their traditional network up-front buy to shift dollars to online.
The combination of in-store media including good old fashioned product displays, with mobile may offer the most interesting combination. Using a PDA or phone application either as the basis of the aforementioned list or as a method of interacting with products in-store to determine deal availability or products with nutritional options better than the home brand offers consumers new and true convenience, which as I often have said trumps price for most consumers.
Having these types of mobile solutions in store obviously carries with it risks. Those risks include the availability of phone and camera facilities to record and transmit annoying out of stocks, discontinued and poorly displayed product as well as other in-store conditions that we all run into at times. Further, these applications may lead the consumer to brands in other stores for either better usage options or better prices, or lead consumers away from your brand due to simple advertising timing and channel.
