Why TV, Radio, & Print ads are wasting your marketing budget.
The strikingly low cost, the ability to define your target audience, and the fact that the internet is increasingly becoming the place where culture disseminates from, makes it immeasurably better than any other platform for advertisers to spend their hard earned marketing dollars.
I don't feel the need to explain why the extremely low cost per impression for advertising on the internet, especially Facebook, is valuable to a business. But aside from that, the target-ability of those 1000 impressions is vastly superior than what your able to control on any other platform, meaning that advertising online is massively under priced and undervalued.
On Facebook you can define who will see your ad based on age, location, gender, language, income, marital status, likes, dislikes, and more. This means that you can direct your ad for women's fitness attire to only women within the ages of 18-45 that has expressed an interest in a fitness or health related product. You can target your single-family home listing to families with children within the surrounding area who make over $80,000/year. If you can imagine and define the audience, you can advertise to them.
Aside from the low cost and amazing targeting abilities, the internet is increasingly becoming the place where culture originates and it disseminates from there. Often I see news online in one place or another before I see it on the news. Just like how TV transformed society, the internet is the new catalyst for social and political change. What does all this mean for advertising? TV ads are slowly losing their effectiveness while online marketing is gaining market share.
Look where people's authentic attention is. Attention is no longer on TV's but is focused on cell phones, most often on social media, watching videos (specifically videos), or on the web. Increasingly, this is the place where masses of people go for their information, their culture fix, their escape from reality, and therefore, this is where they can most effectively get advertised to.
Furthermore the dynamics of fast-paced life in a globalized society where the world is within our fingertips is turning people away from the idea of tuning into a 30 min or 1 hour TV show at 8:00 every Wednesday for three months. That's too large of a commitment for the majority of us to consistently make - thus the shifting trend towards binge watching. And even if we do make it do we watch it live or do we record everything and fast forward through the commercials?
This is no longer speculation - there are piles of data to back up this shift in cultural consumption. Rise of streaming services vs drop in cable subscriptions, rise of brands like Lululemon and Gymshark vs established department stores stock dropping, dominance of online retailers like Amazon and Wish vs bankruptcy of Sears and shrinking market share of brick and mortal retailers. Do the research if you don't believe me. And while your doing the research ask yourself where you went for the information, newspaper? TV? I don't think so.
The widespread adoption of TV revolutionized every aspect of people's lives in ways the inventors could never have imagined or conceived. TV led JFK to beat Richard Nixon in the presidential election, TV (or video) killed the radio star (my source is that song), and the list goes on. The point of all this is that the world wide web, is the new TV.