Volume 6 No. 1: What’s the new value of old channels?
Remember when everyone thought traditional marketing channels like TV, radio and direct mail would all be dead in the next decade?
Yet they’re alive and better than ever.
Are traditional channels back in style?
Each week, we break down another marketing trend so you can skip having a breakdown.
For many performance marketers, TV became an unlikely channel for two reasons. First, the price tag. The costs of production and media quickly add to hundreds of thousands of dollars, if not millions.
Spend on offline channels grew 7.6% last year. And CMOs are increasingly optimistic about ongoing growth, saying in February that traditional ad spend would gain 2.9% in 2022. B2C service companies specifically predicted a 10.2% increase.
But aren’t traditional channels supposed to be dying? Why are brands spending more on them?
- A changing digital landscape. With the loss of third-party cookies, competition for search terms gaining intensity, and more studies questioning digital’s effectiveness, brands are exploring alternatives.
- Consumers trust traditional. Reports continue to show channels like print, TV, and radio are most trusted for informing purchase decisions.
- The halo effect is no joke. Channels ranging from direct mail to TV advertising are shown to complement digital efforts.
Key takeaway: Traditional channels are absolutely returning to the spotlight. The challenge will be using the channels’ long-standing benefits in forward-thinking ways.
The Growth Lab
Question: How do you create a culture of innovation?
We ask an experienced group of business leaders, marketers and statisticians about strategies for success.
Answer: "Make innovation a priority. Train thinking using frameworks like those in the book Blue Ocean Strategy. Measure results through quarterly OKRs. Welcome bold growth moves that may carry a low probability of success but a high impact if successful. And remember a well-run core business is what allows risk-taking, so those focused on operational excellence still directly contribute to driving new development."
— Chuck Hengel, Founder & CEO
Chuck’s known for combining an entrepreneurial vision with a dedication to data. And for his love of bass fishing.
Read: Ogilvy on Advertising
Here we celebrate books, podcasts, videos, and influencers that are actively pushing marketing into the future.
David Ogilvy, “the father of advertising,” is known for starting one of the most successful advertising agencies in the world. In his classic text, Ogilvy on Advertising, Ogilvy shares his own campaign experiences and explains his principles for advertising alongside how marketing and research can drive success for your business.
Our favorite insight? Creative is key. Ogilvy says anyone can produce anything. The only thing stopping you is your imagination.
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