Sunday, June 6, 2010
Media Buying BEWARE!
Having helped to create sales pitches for radio advertising, I'm quite familiar with the "key demographic." That demographic being women age 25-44--the person with the most buying power in families. We've all heard the recession buzz phrases about spend-savvy consumers, recessionistas and the new normal. As consumers, we may have developed these spending personas, but as advertisers we have to be even more aware of this change. The new demographic to be targeting isn't that 25-44 demographic anymore. It is GenY whom haven't felt much of the change from the recession and will continue spending as normal. They will buy into the new technologies that will arise from the recovery while older generations will more likely keep to the spending habits they formed when money was tight (which includes holding on to older technologies until necessary to upgrade). You will find media readjusting those sales pitches I had worked on in the past and see advertisers finding ways to reach the young, tech-friendly generation. My suggestion: focus on online advertising. My online campaigns have had tremendous success, and I think it will only continue growing. In an industry that doesn't relate to this demographic? Continue with the couponing, sales promos, etc until people forgo these habits, which I believe will happen as soon as unemployment numbers dwindle again.