W-O-M: Which Paid Media Are Driving Consumer Conversations About Brands?
March 25, 2019
It appears that people are talking less about brands than they did five years ago, according to a new report [download page] from Engagement Labs. This is especially true of the youngest consumers (aged 13-20), who are cutting the cord and turning away from traditional ad-supported TV and opting for different viewing channels. This bracket went from having an average of 115.2 conversations per week about brands in 2013 to 94.6 in 2018.
Back in 2013, television was still the channel which drove the most consumer conversations, generating 37.4% of all paid-media driven conversations. Five years later, TV is no longer the top paid-media conversation starter, with its percentage share dropping to 31.6%.
By contrast, as advertisers find new channels to inspire word of mouth, digital advertising has seen a surge in its share of paid-media driven brand conversations, going from 3rd among paid media 5 years ago (16.6% share) to basically running neck and neck with Tv at 31.8% share in 2018.
While this small 0.2% percentage difference is arguably within the margin of error, trends in advertising spending leave little room for doubt as to the likely future – that digital will quickly overtake TV as the top paid media channel for driving consumer conversation about brands. According to PwC, internet advertising spend in the US reached $99.8 billion in 2018, compared to television’s $71.0 billion. Not only that, the US digital advertising market is expected to reach $127.4 billion by 2022 while TV’s market size will only increase marginally to $74.9 billion.
Read the full MarketingCharts article, here.
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