Navigating Changing Platforms For Your Business
Did Media Die?
Over the last two decades media has started on a path of such drastic and dramatic change. A lot of doom and gloom was quick to take over the industry at the time, with many people both outside and in believing these changes would cause traditional media to die out. Online mediums began making their heavy debut, and with the increased availability and speed of internet access on the rise it was easy to be convinced that things like journalism, news print, radio, and television were on their way out of relevancy.
Clients who once advertised devoutly were dropping back their commitments and spreading their resources elsewhere to navigate the broadening interests and attention span of an audience that was once so contained. The market was undergoing a rapid overhaul. Information was no longer bottle necked to three main platforms, and the opportunities this change allowed for gave companies a chance to be smarter, and more frugal with their investments.
The consensus was that newspaper and magazines, radio and television, was dying. It was a frightening time for journalists, broadcasters, and advertising specialists. How could they compete with an online forum that could update within minutes of current events, or provide content on demand? For a long time print and broadcasting were necessities to marketing, and yet these changes that were happening were not about to lose momentum. This raises the question, did media really die?
Some smaller advertising venues that could not keep up with the change were quickly made obsolete and had to close their doors because of a lack of up to date applicability. In spite of this, there are audiences that still remain to support a more conventional type of news source. It is important not to discount them when considering your marketing choices.
Newspapers, magazines, and journals have increased in their online existence. They can now update news stories faster and stay topical in a quick paced world. Some have made the complete transition to an online template, others have hybridized to an online and hard copy presence as to still appeal to their original and loyal established audiences. This is especially relevant if you are in a smaller community or have a niche market that a newspaper, magazine, or journal would target.
Radio has upgraded into online streaming for traditional stations, but has also become available as various subscription services. As podcasts rise in popularity, advertising space has come available as a break in between topics, or as a plug at the beginning or end of an episode. This can be a good thing to utilize in order to reach explicit or specifically targeted audiences.
Television has remained strong in this transitional media phenomenon, but networks and production companies are recognizing the change as well. The increased availability of subscription and streaming platforms in favour of previous cable or satellite services has become significant in the modern home. The ease of the online world has also opened up numerous video services in respect to social media. Everyone is familiar with the video giant YouTube, and sites such as Facebook, Instagram, and TikTok are offering more and more quality graphic service as well.
Social media is truly the peak of change to occur in the evolution of information sources in the last decade. It is still continuing to change, with new sites birthing and fading as the generational shift causes a bigger demand for accessibility and improvements on what social sites have to offer. Social media marketing has become one of the largest scale, and lowest cost ways to get a message out to an audience. What it stands out for in its inexpensiveness, it definitely suffers in the amount of time it consumes. Though it has made it easier for businesses to do a lot of marketing on their own, it also increases the individual time a company may spend on managing their advertising process.
With the changes that have happened in the last decade alone, and especially with the changes that keep happening, the increased demand for relevancy and ease will only continue. The question is not only where your marketing drives people, and how available your product and business is, but where you are going to draw in your audience from? With so many options available and so many ways for your clientele to access you, it becomes a struggle to know just which is the right choice for your business. How do you stay innovative in a world that is constantly changing? Are older and traditional mediums truly becoming obsolete?
Did media die?
No. Though it suffered a hard change in a rapid amount of time, media in fact did not die.
Will media die?
Also no. Media will only continue to grow from here. How you and your company uses it, in a world where so much of it is available, will determine your own growth in many ways.