If you are still operating in your comfort zone and don't use the current "downturn" to start upskilling yourself (or your staff) to digital, you clearly won't be prepared for the inevitable "upturn."
Now is the time to upskill to digital
TNS Media Intelligence reports that overall U.S. ad spending was down 14.2% in the first quarter of 2009. Consumer magazine ad spend declined 19.2% as key categories like auto and financial disappeared for many magazines. On the business information side the fall was even steeper (-25.5%), in part because many b2b publications remained relatively stable until late 2008.
Local media (-25.4%) were hardest hit, with local newspapers (-25.1%) actually doing better than local radio (-26.8%) and spot TV (-27.5%). National TV continued to prove relatively strong: Network TV was only off 4.2%, cable TV was down 2.7%, and syndicated TV actually increased 0.2%.
But the most promising news in the TNS report was an 8.2% rise in online display advertising. Despite opinions to the contrary, display advertising online is not dead, with marketers taking advantage of bargain prices, and categories like telecom, travel and retail moving money towards digital to find efficiencies.
Dean DiBiase, CEO, TNS Media, says “The advertising industry, while struggling, is understanding this is a period for innovation and we are seeing efforts to reboot their approach through the advent of new technologies and tools such as addressable advertising and the first steps to integrating measurement in a synergistic manner across all media platforms.” (Min Online)
DIgital is still growing and shows no sign of stopping. Media owners and agencies are sorting the integration of digital with other media platforms. While many companies have "trimmed" training budgets in the last 6 months, equipping your staff with the knowledge they need to adapt to the ongoing changes in media and marketing (and their jobs) goes beyond typical training. We're not talking about another Time Management course that no one has the time to attend. We're talking about the strategic cultural and organisational shift that has to take place in your business in order to compete moving forward.
Equipping your staff with digital knowledge and skills is a prerequisite to making that shift. An HR director at a global agency group recently told me that ALL of their traininig budget for the next year would be spent on digital. We're well beyond the resistence phase, surely you see the writing on the wall by now? If so, take the first step and send me a note. We'd be happy to do a free needs analysis for you.
Campaign of the Month
Dell's made $3million on Twitter... so far
$3 million isn't much more than a rounding error for Dell, but it's not bad for an effort that cost basically nothing. Not great, I know, for those of you on publisher or agency side, but it's what's happening. Just like I say about search - it plays an important role, but it can't do everything. Believe it or not, neither can Twitter. But it can make a strong contribution when used effectively. Read about it here
Here's another example of Naked Pizza cashing in on Twitter
Check out DellOutlet on Twitter
Adtech Singapore
I attended the second annual AdTech conferenceat Suntec Convention Centre in Singapore (June 9 & 10), met some great people, and learned a lot about the market - which considers Australia the digital marketing leader in APAC. The main sponsors of the conference were Friendster, Yahoo! SEA, The FInancial Times, and Omniture.
The conference saw the official announcement of the IAB SEA Singapore chapter, which is a good sign of the growth of the industry, with significant commitment from a sizeable group of founders. Most sessions involved panels, with keynoters Steven Noble from Forrester, and Seth GoodSteign from the Obama campaign. An interesting analogy from Ian Stewart, head of Friendster in Asia: "Facebook is the lounge room, Friendster the teenage bedroom, Myspace the nightclub, LinkedIn the boardroom."
Thanks for reading, and see you next month!
Patty Keegan, Director
Digital Chameleon
www.digitalchameleon.net
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