Television has an expanded meaning in the world of marketing.
The new vernacular is video. Video can take place within a variety of channels. Two key channels are traditional subscriptions such as cable and satellite, and streaming video such as Hulu, Netflix, and Amazon Video.
These channels are defining consumers’ behavioral habits. Within these two channels, there are additional terms that are emerging to categorize consumers:
- “Cord Nevers” are customers who have never subscribed to pay TV, but do subscribe to streaming video services. Millennials tend to fall within this category and consume more original content.
- “Cord Cutters” are customers who have recently canceled TV services. These consumers tend to be younger and prefer original content.
- “Cord Shavers” are customers who still subscribe to TV but have reduced their paid services. These consumers tend to be older.
- “Cord Stackers” are customers who subscribe to traditional TV but also subscribe to streaming services too. These consumers tend to be older.
As one can imagine, cord cutters are growing. But it doesn’t mean that this is the predominant consumer behavior. Majority of consumers still fit within the cord stacker category. From a behavioral standpoint, consumers still like to watch video on television over any other device. Plus, there is still an affinity to binge watch multiple episodes back-to-back.
Video (whether traditional or streaming) is a viable channel to reach any given target. It is important to match the consumer behavior with the best channel in order to deploy marketing messages. It is equally important to set key performance indicators (KPIs) prior to execution in order to determine success! As always, continue to optimize throughout the life of the campaign to enhance ROI.
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]
