The oldest form of marketing, traditional media comes in many forms, and can mostly be found in the following categories:
1.Print Ads come in the form of our classic newspapers, magazines, brochures, and any other printed distributed material.
2. Out-Of-Home Ads refer to large, open spaces where large billboards can be displayed for advertising purposes.
3. Broadcast Ads come in the form of Radio, television or movie theatre advertising.
4. Point-of-sale Ads are commonly known as retail shopping ads, these ads attract retailers to serve as purchase boosters.
Traditional marketing is dying? Here’s why.
Globally, digital media is catching up and taking over our lives, cannibalising traditional print media.
Diverted Attention of consumers
An average individual spends 1 out of 3 minutes are spent on their digital device. The evolving population is close to forsaking traditional media.
Additionally, every year, billions of dollars are wasted on unviewed traditional advertising. As a preferred cost effective solution, digital marketing is now the most trendy form of advertising amongst brands.
SMRT charges up to a weekly rate as high at S$220 000 per station. As of today, most MRT billboards lay empty.
These advertisements experience a limited reach and are non-targeted. Moreover, print media lacks innovation and it is impossible to gather feedback.
Declining print readership
Print publications today are a dying business.
Advertisement revenue alone for newspapers is projected to decline to US$60 billion by end of 2018 from almost US$100 billion in 2011.
Adoption of digital media
To fuel survival, local print publications like TODAY has gone fully digital, while The New Paper has transformed to a 5-day publication instead of a daily one. Local magazines like 8 days and HER WORLD have shifted to online as well.
Ingrained ad blindness
In 2007, it was recorded that an average person sees 5000 ads per day. This number could easily be doubled today. We’re so used to seeing so many ads everyday that we have become used to blocking them out. Digital media identified this problem and overcame it with targeted ads. Traditional media however, does not have the luxury of such options.
Media is always changing, and in a few years, what we currently know as modern media – digital media, might be known as traditional media. I guess it’s time for marketers to shift our attention to online media while we can.