There’s an awesome article in yesterday’s (10/14/07) New York Times Business Section on the evolution of advertising, moving from the traditional (tv, print, radio) to alternative. Mostly discussed Nike and their focus on alternative, but still a great piece.
Check this quote pulled from the article:
“Add it up, and the money flowing out of the traditional media is huge ‘€” even at a time when ad budgets in general are growing, advertising research shows. The 25 companies that spent the most on advertising over the last five years cut their spending last year in traditional media by about $767 million, according to Advertising Age and TNS Media Intelligence. And in the first half of this year, those companies decreased their media spending an additional 3 percent, or $446 million, to $14.53 billion, according to TNS Media Intelligence.”
Connecting with consumers has changed — they’re educated, they’re in control and they won’t tolerate to the 30-second spot that interrupts them with the typical jingle, tagline and a call to action. Exaggerating a bit? Yep. But it’s a reality is that brands must embrace. Nike and other brands in this piece get it… and have found a way to as Trevor Edwards (who happens to be Nike’s corporate vice president for global brand and category management) puts it, ” connect with consumers”.
BTW, we here at DO find it fascinating that it’s “traditional media” covering this story…
