Advertising has always been charged on how many people a product attracts that’s why advertising on television was always so expensive. Things haven’t changed that much-it’s just the people aren’t in the same places any more.
Think about it in terms of the new media platforms that have evolved over the last twenty years or so ago:
Television advertising expected high revenues from advertising and with just three channels to advertise on the expected audience was vast- in 2014 my Sky remote channel numbers go up to 999 so the audience will be diluted significantly and scattered across many channels.
Radio advertising-in my youth there was Radio 1,2 3 and 4-I can’t remember any others so again advertising could dictate high prices. in 2014 there is a radio station for every era and genre. There are literally hundreds and many change their target audience as figures rise or decline. DAB Radio has meant that radio listeners don’t have to only listen to local stations because that’s all they can get a signal for.
Newspaper advertising also dictated high prices as competition in the news sector was minimal-if you wanted news you read a paper or watched the news bulletin on TV. 2014 if you want news you find it on your mobile phone, on you laptop, on a tablet, in a newspaper, on the radio or on the TV. News travels via social media-news is accessible, can be localised or national and can be tailored to suit the reader.
There has been a significant change over the last couple of years-when the audience for content shifted to online the radio, television and newspaper industry creaked-some toppled, some completely lost their share of the market by refusing to accept the significance of the internet and some lost their heads.
Some-after a little dunking under the water-re emerged as some of the Worlds most powerful magnets for the audience every advertiser wants.
Take for example the Daily Mail-a newspaper which now has more UK visits than any other newspaper site. It is read across the globe. Combine its audience with the printed title and the Mail reach a significant amount of people.
The BBC-once seen as channel losing it’s audience to younger, funkier channels-now reaches an audience of 256 million people per week with combines reach of television and online platforms. It’s phenomenal.
I work for the South Wales Evening Post newspaper and on an average week we reach an audience of over half a million people. When I began working in the industry 12 years ago, with a newspaper only we reached 172,000 people. It’s an amazing transition. Our website attracts close to one million unique users on an average month. It doesn’t feel real. I’ve seen the newspaper industry seem like the underdog in media as people only talk about losing circulation-with confidence and with pride I can say that my products can reach a vast local audience. It’s a lot more intelligent, it’s more flexible and what’s more I have a revived passion for the business because like in the old days we are at the top of our game.
So my advice to you today is don’t buy advertising on price-buy it on audience.
A former boss of mine used to say ‘You get what you pay for’-if something’s cheap then it probably doesn’t command a high audience.
An advert without an audience viewing it is like a football match with no crowd.