Traditional Media Are Still Critical to Reach Consumers

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Presentation transcript:

Traditional Media Are Still Critical to Reach Consumers Targeting individual consumers may be the ultimate goal for retailers and advertisers, but they must still rely primarily on traditional media to “reach, attract, capture and retain” customers. Research from Bazaarvoice, a company that provides advertising and personalization solutions, indicates “only 17% of marketers can see customer behavior beyond their own properties.” The aim of part 2 of this two-part Special Report is to provide some specific methods for local businesses, retailers and advertisers to maximize their share of the right consumers for their businesses.

Creating the “Blended Retail” Environment, Part 1 Retailers must generate more excitement for shoppers by changing displays of merchandise more often and basing them on themes, which then become the focus of in-store events and informative, attractive digital media content. Develop and market unique connections of a store’s products and services to many consumers’ interest in wellness and healthy living.

Creating the “Blended Retail” Environment, Part 2 Offer customers in-store educational or how-to opportunities to learn more about current merchandise, so they develop more trust the merchandise will solve a problem and/or improve their lives. Improve consumers’ perceived value of the shopping experience with a shopping concierge or an online survey of their shopping/buying intentions before they visit a store, so the store can create a personalized, less time-consuming experience.

How to Improve Advertising Integration, Part 1 Strive for better message integration in both offline and online media and both. According to Kantar MilwardBrown data, just 46% of ad campaigns it measured were integrated – and “integrated campaigns are 31% more effective at building brands.” Campaigns with a powerful central concept were found to make it easier to integrate offline and online channels; create a short, primary message; and be more disciplined in the implementation of the campaign.

How to Improve Advertising Integration, Part 2 Creating strong, compelling content for each campaign element can evoke the powerful emotional response and connection necessary to attract consumers. Establish a clear reason for using any specific advertising channel. TV is known for its reach and increasing awareness, but the use of the digital channel can enhance TV’s reach. Integrated campaigns are most effective, however. Customizing the message for each advertising channel placement will maximize overall campaign effectiveness.

Welcoming Generation Z, the New Consumers Fluent, a people-based digital marketing and customer acquisition company, found Gen Z members’ three most-important values were self-sufficiency, cultural diversity and a work- life balance. According to a 2018 IBM report, 67% of Generation Z members said they shop in a store “most of the time,” and their most important shopping experience factor was being able to find what they want quickly. Retailers, therefore, should display merchandise for Gen Z members near the front entrance and provide sales associates with the technologies, such as tablets, to make the checkout and payment process easy and fast.

Millennials Are Entering the Consumer Mainstream The perception has been many Millennials prefer experiences over the accumulation of material goods, but that may change as they start families and buy homes. Results from a 2017 First Insight survey revealed more Millennials than Baby Boomers were shopping at multiple stores in search of bargains. Not only do Millennials trust the word-of- mouth of online reviews, but also are more likely to read direct mail and advertising inserts from retailers than online ads and text messages.

Don’t Overlook Generation X Price appears to be what influences Gen Xers’ shopping the most. This strongly suggests retailers should emphasize price for in-store displays, sales associate interactions and advertising messages in any channel. Research strongly supports the value of loyalty programs to capture and retain Gen X shoppers because they’re too busy with their careers, raising a family and maintaining a home for time-consuming research and price comparisons. Email continues to be the best place to reach Gen Xers. According to data from Yes Lifecycle Marketing, Gen Xers made one or two purchases during the past three months because they received a marketing email.

Baby Boomers Are Still Active Consumers Millennials may have surpassed Baby Boomers as the largest generation, but Boomers are still responsible for 50% of all consumer spending – and price is their primary loyalty driver. The Boomer generation parallels the age of television and Boomers have maintained their loyalty to the “tube,” which makes it the primary medium for advertisers to reach them. Boomers clearly recognize the value of voice- activated speakers, as 37% of adults 50+ are already using them. As they age, these devices will become even more valuable as a companion and a health-and-safety technology.

Other Critical Consumer Attraction Tactics Kantar MilwardBrown’s The Art of Integration Report found consumers have a more positive perception of traditional media than digital media because ads on digital media disrupt people’s interaction more than traditional media. A March 2017 survey from The eMarketer Ecommerce Insights Report found phone was the preferred customer service channel among all Internet users, and Baby Boomers and other seniors, specifically. The same eMarketer report revealed discounts and coupons were very important among all age groups, at 44.9% for all adults and somewhat important for another 20.6%.

Your Station’s Digital Advantage, Part 1 Local TV stations are in an advantageous position compared to other local media outlets to help local retailers and advertisers maximize their successful and cost-effective use of the digital channel. Because most small business owners prefer to create and manage their digital advertising, you have an opportunity to offer you and your station’s digital advertising expertise. As the local video production experts, you can offer retailers and advertisers a video production package that includes the standard 30-second commercial, but also recording and editing additional footage for their Websites and social media posts.

Your Station’s Digital Advantage, Part 2 According to Knight Foundation’s 2018 Local TV News and the New Media Landscape: Part 1 report of 22 large and 37 smaller markets, TV and newspapers are the primary sources of online news content – and TV specifically in smaller markets. The Knight Foundation research found TV offers local advertisers the largest access to audiences via TV stations’ social media platforms. Local TV news’ enormous amount of video content is the difference maker, as that is the format most social media users prefer to view.