From groceries to autos, marketers are talking about the need to do more to reach younger shoppers.
A common theme we heard regularly from advertisers during the second half of 2018 was the need to bring in younger customers. Yet some marketers have been slow to adjust their marketing mix to enable them to reach more of these younger customers.
As Millennials begin to increase their spending levels, marketers need to make the changes necessary to get their messages in front of more young consumers. As marketers review their budgets, many find an opportunity in historically high broadcast spending. Shifting and optimising their broadcast spending into more digital strategies enables them to connect with more younger consumers.
This is a great time to consult with advertisers to share the research and market trends that can help them formulate their budgeting decisions.
This chart illustrates the projected change in local ad spending in the automotive category in the Sacramento/Stockton/Modesto DMA for 2019. Auto dealers continue to reduce most traditional channels and fuel the digital portion of their marketing budgets, which is already the top-spending area.
As it should be, the shift in spending is clearly driven by consumer trends. Television, just like many other media, still has a place in the mix, and it will be looking to break the current business mold. But for many people, there is a need to know how to rebalance the mix now.
Help your clients understand the trends and find their audiences.