Not sure which is more surprising…
According to MarketingVOX, online media accounts for 12% of media consumption. That’s a stunning rise: one out of eight, up from zero in just ten or so years.
At the same time, though, they report that online media accounts for just 2% of ad spending.
This could be because online media doesn’t work (but it does)
or that it’s hard to buy advertising in it (but it isn’t)
or that it’s radically underpriced and a bargain (which may be true).
The real reason is pretty obvious: organizations hate to change. (so do people, but that’s a different story).
Whenever you are faced with a situation where your competition is afraid to change but you can see the reality of the situation, you have a huge opportunity. This is the biggest growth and market share opportunity in at least a decade.
Short version: corporations, politicians, non-profits and even individuals who overinvest in online will see the same spectacular bounce that companies saw from TV in the fifties and sixties.
Winston tastes good…