Take a peek at the article from Wired Magazine (The Web is Dead). Look at the image at the top of the chart.
This is what we are seeing with classic catalog and e-mail marketing in the majority of my Multichannel Forensics projects ... the new channels come, but they don't fully replace the old channels, leaving business leaders in a bit of a pickle.
Fortunately, you can make a boatload of profit by cutting back on old-school advertising to customers who have made the transition to newer channels!
And by the way, read each viewpoint in the article ... please, read each viewpoint. An evolution that is going to swamp e-commerce is well articulated on each side of the spectrum in the article.
Helping CEOs Understand How Customers Interact With Advertising, Products, Brands, and Channels
August 19, 2010
Visualization of Multichannel Forensics: Wired Magazine, "The Web Is Dead"
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While I don't disagree that other information channels are important there is an important flaw in the Wired Chart. The chart reflects TRAFFIC not TIME. Lots more bytes are sent through the internet for video than ever before but video requires a lot more bytes/second of viewing. So what is the breakdown in viewers eyeball time. Video might be important but I think far less so than the chart indicates. Also of non-pure entertainment time how much is video? Watching a TV program is just a shift in display media, watching a video clip on a new site or a ecommerce site, is a paradigm shift in sales.
I agree with Joel.ReplyDelete
If you went back to say the 50's and the large expansion of TV you could claim that older forms of advertising would die. This certainly wasn't the case, there was just a shift in advertising to TV and people still bought magazines, listened to the radio, etc.
E-commerce is not going away, we just might need to think about how to advertise differently just as retailers did with the advent of TV or the web.
Thanks for the feedback Joel/Dan. There's always lots of opinions out there!ReplyDelete
I am intrigued by the article that you have brought up.ReplyDelete
Please can you share that link?