We know that the way viewers watch TV is changing. Social media is where shows get discussed, tune-in in a fragmented world gets harder every year, and the math of reach and frequency have changed as niche networks and multiple screens have become part of the TV viewing experience. Advertisers are faced with the conflict between the effectiveness of mass reach, and the challenge to find consumers in the pockets of televised society where they now spend their time.
To test the waters of where the TV advertising industry is heading, Simulmedia interviewed some leaders from the agency and content side of the business. Maureen Bosetti of Optimedia, Joe Germsheid of Carmichael Lynch, Dennis Camlek at Turner Broadcasting and Jack Wakshlag former Chief Research Officer at Turner, sat down with us to share their views on various hot topics surrounding the TV advertising industry. From audience fragmentation to the future of TV advertising the experts agree the industry is changing, but for the better. The introduction of more data and smarter approaches to media planning and buying will help improve the way people look at television advertising.
As you will see watching the videos, audience fragmentation is still the biggest challenge facing television today. “It’s a big challenge to find people at all hours of the day, including primetime” according to Maureen Bossetti. While people are consuming more TV than ever before, people might be on their DVR or tablet at 8pm instead of watching live TV. Still, there are so many ways to reach consumers today; advertisers must find the best way to reach their target across all different mediums. While the days of reaching all of your target audience with one primetime spot are long gone, it only means there are more options to reach your audience across the rest of TV.
Despite audience fragmentation, television still plays a major role in most advertisers’ marketing strategies. Jack Wakshlag believes TV is still a huge chunk of advertisers’ budgets because “to make brands grow you need reach and volume, and television is still the most dominate reach medium.” Television provides the most awareness and scale for advertisers looking to reach a large audience at once.
While there is too much money at stake for the industry to change overnight, the industry knows a shift is coming and they believe audience buying will play a part. More data-driven audience targeting across networks will become a small part of most advertising campaigns. “Big Data” seems like it’s been around forever and is being played out but data will help us become smarter in our approach to campaigns.
To see the series of videos on this topic, head over to our Simulmedia Channel on Youtube. Let us know your thoughts on how you see TV advertising evolving.
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