But now big media, including news networks like NBC
News, and are focusing on something that could potentially provide much
more value for advertisers, and provide much more relevant advertising to
consumers: psychographics.
So, are demographics dead?
Can we – advertisers – truly divorce ourselves
from something that has long been the way
to target advertising? Are demographics still as important as they once
were?
Take, for example, Nielsen TV ratings which has
often caught flak from audiences and advertisers alike for relying on things like
demographics and impressions in order to determine the value of advertising in the
increasingly-disrupted medium that is TV. It may be foolish to rely on
half-century old ways of targeting consumers when, in just the past decade
alone, the way we consume information has begun changing at an alarming rate.
But Nielsen, too, seems to have realized that,
joining forces with Catalina Marketing in order to more effectively target
their advertising initiatives through psychographics.
Research on the subject of demographics from Catalina Marketing
indicates that as little of 15% of brand advertisements -- that's 15 cents on
the dollar -- are targeted towards the consumers that account for 80 percent of
a brand's sales!
Which means that it might be time for a paradigm
shift. Especially when you consider the wide number of massive online networks and free advertising tools that make performing psychographic research much easier.
But ultimately, whether you target based on demographics or psychographics, marketers must still focus on the messages that they are broadcasting to their target audiences.
And that's where brand comes in. : )
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