blog

Reaching Your Audience Effectively in the 21st Century The new media landscape and how it affects your business

The marketing industry has changed drastically over the past 10 years. The digital revolution
has taken over our lives in more ways than we’re comfortable admitting: our relationships, our
weight, our health, our livelihoods. We live in a digital world. But it’s not just you and I, your
consumers live there, too. So, they need to be able to find your business there as well - and
when they find it, they need to like what they see. If they don’t, the likelihood of them ever
stepping through your doors or calling your phone are bleak at best. Yet, most businesses are
still focusing their marketing efforts on traditional media outlets. It’s time to take a look at where
your consumers are and rethink our strategy.
Who is your ideal consumer? Are you targeting:

  • Mothers?

  • Men between 25-40?

  • People who recently got engaged?

  • Small businesses?

  • People who are in the market for a new vehicle?

  • Home-owners?

  • Parents of children under 10?

  • People who enjoy yoga?

  • People within 5 miles of your establishment?

It’s important to know who exactly you are trying to reach - and not just their age and gender,
but identifying them on a more personal level. We are bombarded with marketing content every
day, so it’s important that yours is relevant to the person seeing it if you want it to have any
impact whatsoever. But, where does your ideal consumer spend their time?
Recent studies show that we now spend 6.5 hours online every day and our time spent with
media has dramatically shifted. Our daily media consumption now looks something like this:

  • 2 hours on social networks

  • 2 hours on television

  • 1 hour on broadcast radio

  • 45 minutes online radio

  • 45 minutes streaming

  • 45 minutes online press

temp-post-image

Does your marketing strategy match overall media consumption? It’s changed so quickly, most
businesses (and marketing agencies) have not. Understanding how your clientele consumes
media is critical to your marketing success. Here’s how the demographics measure up:

Ages 16-24:

  • Online: 64%

  • TV: 14%

  • Game Consoles: 10%

  • Print Press: 6%

  • Broadcast Radio: 6%

Ages 25-34

  • Online: 60%

  • TV: 16%

  • Game Consoles: 9%

  • Print Press: 6%

  • Broadcast Radio: 7%

Ages 35-44

  • Online: 57%

  • TV: 21%

  • Game Consoles: 7%

  • Print Press: 6%

  • Broadcast Radio: 9%

Ages 45-54

  • Online: 54%

  • TV: 26%

  • Game Consoles: 5%

  • Print Press: 5%

  • Broadcast Radio: 11%

Ages 55-64

  • Online: 49%

  • TV: 31%

  • Game Consoles: 3%

  • Print Press: 5%

  • Broadcast Radio: 11%

Source: Global Web Index: Digital vs Traditional Summary Q1 2017

Due to the overwhelming migration to digital media, traditional media has suffered
tremendously: Television is down 9-39% depending on the demographic, online radio has
commanded 44% of the market share and newspaper circulation has dropped for over 15 years
consecutively. Although viewership has dropped significantly, rates have not.
In marketing, we determine rates by calculating how many individuals will see your marketing
message (reach). All marketing mediums can be measured in a cost per thousand, notated as
CPM (Cost per Mille). Here’s how the platforms measure up:

Broadcast TV: Average CPM $10 - $23
Cable TV: Average CPM $9 - $25
Radio: Average CPM $10 - $20
Social Media Marketing: Average CPM - $1 - $4
Search Engine Marketing: Average CPM - $4.03

By this point, you should be able to identify which marketing platforms your demographic uses
most and the most cost effective ways to reach them. This should start to define your marketing
strategy.

The next step is to understand your budget. The US Small Business Association recommends
businesses with annual gross sales revenue of less than $5 million allocate 8% towards their
marketing efforts. For businesses at the million dollar mark, that’s a recommended $80,000
annual marketing budget. Marketing at this level will create the desired growth when executed
properly - guaranteed.

Well defined business goals should shape your marketing strategy. Are you:

  • Building brand awareness?

  • Increasing website traffic?

  • Expanding your email list?

  • Growing your social media presence?

  • Generating leads?

  • Educating your consumer?

  • Staying competitive in your industry?

It’s imperative to understand how each marketing medium supports your goals in order to create
a marketing strategy that does more than capture eyeballs, it inspires action and gently moves
your consumer through the buying cycle. Consider these media platforms your business
expansion tools. Put them in the hands of the right craftsman (or woman), and create a
masterpiece!

For help growing your business effectively, contact us today: ciao@biqimarketing.com

temp-post-image
temp-post-image
temp-post-image

*Originally published in Rochester Woman Online