Marketing decision making has become substantially more complex over the years. Compared to 20 years ago,there are now many more marketing vehicles available to deliver messages, but at the same time consumers’attention is being split between even more sources o inormation and entertainment as well. Gone are the dayswhen a marketer could ocus on a ew big “buckets” such as TV, print and radio and eel condent that they werereaching their consumers. Gone too are established metrics to assess how well they accomplished this goal. Today’s marketing executives have to contend with distracted audiences, disruptive technology, more mediavehicles and increasingly complicated metrics. In addition to traditional vehicles, relatively new marketingvehicles such as online display, paid search, mobile, and social media are available and growing rapidly. In act,expenditures on interactive advertising surpassed radio in 2009, and are projected to pass magazines in 2010,and newspapers in 2011.
While many marketers realize that there is more competition or consumers’ attention, they are unsureabout how to best allocate their marketing dollars to gain this attention. As illustrated in the ollowingchart, consumers have become increasingly ocused on the internet as a source o both inormation andentertainment, at times consuming this medium alongside other media, and other times at the expense o timespent with other vehicles.
Thriving in Any Environment Customer Experience as the Next Frontier o Competitive Advantage
,” Jerey F. Rayport, MarketSpace LLC, YPO WPO Global LeadershipSummit, Barcelona, Spain, February 26, 2010.
Time Spent by Media
Source: Forrester Research: North America Technographics media survey 2009 - base US adults, eMarketer, MSP analysis