Thursday, February 07, 2013

We're #3. Hopefully, Radio Is Trying Even Harder Than #2.

Advertising agencies are increasingly concerned with how to best utilize media mix, according to STRATA’s most recent quarterly survey. Twenty-two percent of agencies surveyed indicated that media mix was a challenge. Tellingly, 76% of those polled advertise using at least three mediums per client campaign, indicating the need for multi-platform advertising.  The STRATA survey of nearly 100 media buying agencies in the fourth quarter also shows the largest concern in 2013 is attracting new clients, with nearly one third of respondents citing the challenge.

2013 plans to use radio:
  • More interested:  14%
  • Less interested:  32%
  • No change in interest in using radio:  54%

“Compared to some other media, radio has been fairly steady,”  - J.D. Miller, Director of Marketing and Communications/STRATA

Marketers expect digital spending to continue its upward trajectory.  Currently, 54% percent of surveyed agencies say their clients are most interested in advertising on TV above all other mediums.

Digital comes in second at 30%. However, digital may eclipse traditional advertising in the near future, with nearly one third of respondents expecting to spend more on digital than on traditional media within 1-3 years.

Radio ranks #3.

Within the digital subcategories, over 80% of those polled said online display would be their focus followed by search at 71%, and social media at 52%.

•    Sixty percent of advertisers are less interested in print than they were a year ago, marking the second worst percentage in the last ten quarters.
•    Advertisers expect to see 2013 trend toward an increase in digital adverting (78% of respondents), and a reduction in print advertising (40% of respondents).
•    23% of agencies say they are less interested in Out Of Home advertising than they were a year ago (second largest percentage in the last nine quarters).

That last stat, especially, cries out for a stronger sales effort from radio reps given that smart phones are actually driving MORE use by consumers of out of home media and radio usage continues at very high levels, dominating away from home and proving to be additive to new media marketing.

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