The New Media Mix
Diversifying your media spend used to mean allocations to TV, radio, print and web. Today it means allocations to search marketing, email marketing, social networks, online video, mobile and "traditional" online advertising....in addition to TV, radio, print, etc.
By the way, I lead with the online tactics for good reason.
We all know that both online and offline channels are critical to marketing success. What's happening though is that the staples of online marketing are not only changing, but they're expanding. In addition to that they are also commanding an increasingly larger share of marketing budgets and at a faster pace.
Today it's easy to split up the online budget between online ads, search marketing and email marketing. But with the pace at which new technologies, mediums and trends are taking off, and their adoption rates, this is quickly changing.
In a recent report, Forrester Research projected that marketers will shift budgets online at an even quicker pace. By 2012, it expects the market to hit $61.3 billion, up from $18.4 billion in 2007. In five years, they expect online budgets to account for 18% of marketing expenditures.
Forrester expects the biggest gains in the "emerging channels" category. This includes things like in-game advertising, social networks, mobile, and more. They see this growing from $1 billion to $10.6 billion in 2012.
What does all this mean? To stay competitive, marketers must redefine what media mix means to them. Channels that were once considered experimental are now mainstream. And new channels/opportunities are arising - budget for them and test the effectiveness with your audience.












