As the definition of media continues to expand, marketers are challenged with “mastering the flow” of insights and information throughout all aspects of the business. Any disruption can interrupt that flow and create challenges, according to Kantar’s “Getting Media Right 2019” report. Its take: “You must understand how things move smoothly through the system, the outside influences that impact efficiency—and how they need to be measured or adjusted to manage and maintain momentum.”
The year ahead will bring a greater focus on digital channels, which will, in turn, impact the balance of how marketers use other media. First things first: Their employment of radio as an advertising channel offers a fair to middling forecast. When marketers were asked by Kantar where they will devote spending in 2020, about half, 49%, said their investment in radio will remain the same. Another 16% say they plan to increase advertising at radio. The less than stellar news, however, is that 35% said they intend to decrease their radio spend.
The more dramatic story that Kantar delivers in the “Getting Media Right” report surrounds podcasting. A staggering 75% of agencies say they intend to increase their budgets on the platform. Applying the combined response of advertisers, agencies and media, only 10% intend to reduce their podcast spend, with 27% staying put.
The most dramatic increase in increasing 2020 budgets will be go to online video (84%), with a mere 3% telling Kantar they will reduce spending there, with 13% remaining the same. Social networks continue to be a consistent resource for spending—certainly relevant to radio broadcasters—with 70% of those surveyed looking to increase their 2020 spend (27% static, 6% decreasing). Advanced TV is also a shiny toy for marketers: 52% will up spending more, 34% are staying put, and 14% are decreasing.
Among platforms whose increase in spend is lower than its share of staying the same: online display ads, point of sale (POS), outdoor and traditional TV. And platforms that will lose more than they will gain: newspapers and magazines.
Not surprisingly, the Kantar report also makes clear that 90% of marketers point to “measuring and proving ROI” as an essential element. The report notes: “Nearly the entire industry recognizes that being able to measure and prove the results of campaigns is a top challenge—one that is both the focus and likely the ire of many, as we’re often judged primarily on results.” In addition, some 68% “are beginning to recognize the importance of balancing both short-term (engagement and sales results) with long-term (brand growth and preference performance).
Asked “how important is measuring/proving ROI?” 90% checked the “important” box; while 68% ticked the same when asked about the importance of “balancing short- vs. long-term marketing investments.”