An entertaining battle of the media took place at the recent second annual Mumbrella360 conference, where over 700 attendees met over 2 days to discuss Australia’s media and marketing landscape. Across different presentation tracks, interviews and discussion panels, conference attendees were encouraged to settle a long-standing industry debate: Which medium is preferred these days: Radio advertising, film advertising, magazines, outdoor or digital?
The first day saw battles between outdoor versus newspapers, TV versus magazines, and online versus cinema. That morning, we saw some interesting arguments, with each presenter strongly defending their medium. It was argued that movies reign supreme – reaching over 100 million Australians each year — the humble radio’s air waves still reach audiences throughout the day, at any given time. Some argued against newspaper advertising, making the case that even the most widely read dailies still compete with dozens of other direct messages, decreasing potential impact.
During his interview with mUmBRELLA’s editor, Tim Burrowes, Commonwealth Bank Chief Marketing and Online Officer, Andy Lark, told the conference that marketers can benefit from using multiple media sources to communicate with their audiences. Commbank has been using multiple platforms, including newspapers and TV as well as online to promote its new engagement campaign, “CAN”, around Australia.
My take on this is that whatever your strategy, it needs to be relevant, personal and measurable. Measurement is key to gauge return on investment and the most indisputably effective ways to achieve that are in the digital space. Why? Because, as Adobe’s Mark Phibbs and ExactTarget’s Eric Prugh shared in their “Intimate Insights into Digital Marketing” presentation on day 1, digital marketing works!
Today’s customers can be targeted by experience using over 30 different marketing tactics at any given time. Search, landing pages, blogs, social networks, online display advertising to email, online videos and webinars all play a role in the mix. The challenge marketers have is budget limitations and the need to quantitatively demonstrate impact. Digital marketing is revolutionary because for the first time, we can see how successful our campaigns are as data and analytics let us measure many touch points. By using all the data you accrue about your customers, you can create a more seamless, individualised and engaging experience for your audience. .
So even if TV, newspaper, radio and outdoor ad placements are still part of the marketing mix, I believe digital is going to play a more prominent part in marketing campaigns, and at the same time this shift is happening, it’s time for marketers to take the steps to capture and analyse their data to aim for measurable results.