Have you ever been thinking about something only to read a blog post that is catered to the same idea? Just happened to me! I was reading a post by Chris Baggot about old media and his thoughts on the problem with the overall business model.
I (like Chris) love old media. There is something about getting a magazine in the mail and thumbing through the articles. Every once in awhile I also pay the money to buy a Wall Street Journal or an Indianapolis Star. Unfortunately times are changing and we are not just focusing on the journalistic side of old media.
Old advertising is slowly seeing a transition as customers start to shift more of their spending to online marketing. According to Forrester Research, interactive marketers are going to increase their online marketing spending by 50%. There are a couple of reasons to look at this stat from a social media and old media perspective.
Old media needs to shift their business model to cater more to the online medium. It is a fact of change. The evolve or die mantra still stands as old advertising starts to see a decrease in the effectiveness of their advertising model.
Chris and I both do not have answers for old media. I will still continue to buy my favorite magazines but my purchase does not prove that the advertising is working. As a business owner it is important to realize the effectiveness of both mediums.
How are you going to shift your spending to cater to the online marketing medium?
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Nice post Kyle! Could you send me the Forrester Research article (link) that states 50% of marketers are increasing online spending?
Thanks,
Arik