For the record, television is still king! Television still has the highest share of media consumption among U.S. Adults. However, where this viewing is taking place is the topic of discussion in many marketing boardrooms.
Additionally, television is beginning to take on a much broader meaning. Within the industry, it is being referred to as video content to become more inclusive of all viewing regardless of the platform it is seen from.
While the overall percentage of consumers who have cut the cord (e.g. cancelled their cable subscriptions) appears relatively small, there is a phenomenon that is occurring with Millennials on how they receive their video content. Millennial consumers are gravitating to the internet to view their content of interest. Plus, over-the-top (OTT) content providers (i.e. AppleTV, Amazon Fire, Roku) all are delivering video content appealing to these younger consumers.
Numerous consumers just don’t see the value of keeping paid television providers such as DirecTV and cable (Note: value doesn’t just mean cost but also quality). Another notable point is that those cutting the cord who are 35 and older could afford to have paid television but are making lifestyle choices to not to have it. As for the 50+ crowd, these consumers are still holding on to their status quo behavior and haven’t rushed to cut the cord.
All of this enhances the complexity of developing marketing campaigns. Plus, these campaigns need to be deployed in an efficient manner to achieve the desired actions against a specific consumer set. Programmatic buying can assist with reducing some of the tactical buying issues.
However, consumer behavior is fluid. It means marketers have to be nimble and able to keep fluidity throughout their organizations too. For small business owners, this should give you a strategic advantage over the bigger businesses.
Rarely can a larger companies move quickly enough to adapt to changing consumer’s behavior. Use your size as your vantage point when pushing out communications! Besides, don’t be afraid to push the envelope a bit. After all, consumers are already doing that with the way they view video content (television)!
Adele Lassere is a marketing/advertising consultant, freelance writer and author of “Elements of Buying” (a self-help advertising guide) available at Amazon.com. Adele was listed as Black Enterprise’s 2016 Women of Power in Advertising & Marketing and 2013 Top Women Executives in Advertising & Marketing. Contact: [email protected]
