By Daniel Williams Published March 24, 2016
LEAP Media Solutions client and industry thought-leader Steve Gray of Morris Communications shared his perspective on the role of BIG data in the future local advertising model.
Here is an excerpt:
"It won’t be long before precision targeting is the universal standard for most forms of advertising, even in local markets.
Messages will go through whatever channels work best for reaching the people in the specific target audience — another of the data points available on each individual. The channels will be targeted digital banners, social media targeting, e-mail, direct mail, telemarketing, niche print, and, soon, addressable cable television.
In this new world, what will happen to the mass-marketing media — newspapers, television, and radio?
As more and more marketing dollars move to targetable media, they will be seen as best suited for products, services, or companies who actually want to reach very broad audiences rather than just narrow slices.
However, mass media audiences are becoming less and less mass as people spend less time on them. These channels will increasingly be seen as niche media. Advertisers will judge them on the basis of their specific audience characteristics — and their cost as compared to the many other ways of reaching exactly the same target individuals."
Steve has very eloquently and effectively articulated the strategic advantage that newsmedia companies enjoy relative to competitors in their local marketplace, that is our ability to connect buyers and sellers in the local marketplace by organizing, analyzing, modeling, mining and targeting qualified audiences based on the deep knowledge that we possess on our customers.