Advertising on TV?
You might want to reconsider your budget allocation for 2017 if part of your audience includes the Under-50 crowd. And you seriously need to reconsider if you target millennials!
Neilson’s Latest Viewing Trends Report Doesn’t Look Good for TV Viewership
Neilson recently released their Q3 2016 television viewing trends report and it doesn’t bode well for television advertising execs. The report shows dramatic declines in weekly time spent watching traditional (and DVR/time-shifted) TV programming. Here are more details:
What this means for advertisers/businesses:
If you’re targeting the teen market – reconsider your TV marketing allocation.
Over the last 5 years, TV viewership for the 12-17 age bracket has dropped 37.6%. In just the last year, there was an 11.3% decrease. As teens spend more time-consuming content across the Internet, traditional TV advertising has seen a dramatic drop in reach and impact.
Millenials are cutting the cord and abandoning TV at record rates.
Young millennials (18-24) reported the largest 5-year decrease in TV viewership — over 40% decline! Even those in the older millennial age bracket reported nearly a 28% decrease in TV viewership.
A shift in spend is key to continued success.
This decline can’t be ignored by marketers and requires a shift in budget allocations. Companies targeting a younger demographic need to diversify their marketing spend and shift some TV dollars into digital spend. As more and more people consume non-traditional media online, this presents a unique opportunity to target the exact right demographic and trim overall advertising costs. With more micro-targeting options available through digital media, your advertising dollars can be better focused on the market you’re trying to reach–eliminating waste.
Not sure where to go from here? BARQAR Marketing can help. Our team of Buffalo’s top digital marketing consultants will help you develop a marketing strategy to reach your target audience efficiently and effectively. Contact us today at 888-576-6100.