Time Spent and the Media Influence
By Beth Keegan / October 2017Insights
For the past decade, billions of dollars have migrated from print and TV to digital media as Americans embrace e-commerce and spend close to half of their time with media in the digital space. So, the question to marketers has been how much spending should be invested into digital?
The answer should be about media influence versus time spent. The graph below represents purchase influence as reported by Prosper Insights and Analytics, time spent by e-Marketer and media spend by Kantar Retail in 2016.
With almost half of our media time going to digital, why does it not translate to influence compared to print? We could look at many reasons — including the number of digital impressions you see, don’t see or block in a day versus the eight to ten items of mail you pulled from the mail box last night.
The DMA reports direct mail response rates at 5.3% for a house list versus 0.6% on social media, 0.9% for display or 0.6% for an email house list. Response rates for paper coupons have increased by 60% in the past 10 years.
It could be that consumers trust print ads more than digital. A recent study by MarketingSherpa found that twice as many Americans at 82% trust print ads compared to 39% for online and mobile ads. The likely answer is that print serves as a call to action while delivering a deeper value impression to consumers.
The fundamental difference between many traditional media vehicles and digital is also important to consider. Most digital media are consumer controlled and “sought after” while traditional media vehicles are “pushed” to the consumer with a call to action, whether they asked for them or not.
We may think this must be a generation anomaly with only Baby Boomers filling out surveys but that is not the answer either. Valassis reports that 90% of millennials use print coupons. They are the most cost-conscious generation, with 75% more likely to purchase with a discount. A whopping 84% of millennials take time to look through their mail and 87% report that they like receiving mail, according to the latest USPS Mailbox moments survey.
The challenge to marketers is to create the right mix of impression on the consumers’ path to purchase. The brave marketer will look back at traditional best practices of robust customer data and insights as well as forward to drive results in the digital space. Sales and traffic are driven by solid value-driven offers that are seen. Your customers are looking for them; meet them where they are looking!
Contributed by Beth Keegan, President, PREformance Marketing
Beth Keegan is an award-winning sales, marketing, advertising and media executive with two decades of experience with Fortune 500 companies. By deploying geo-based and data driven analytics, she skillfully builds revenue, customer traffic and speeds consumer purchasing decisions. She has unique expertise in post-merger and acquisition integrations, consolidations and marketing strategies. Learn more at PREformance.net