Once upon a time, TV basked in the spotlight as the "must-have" advertising medium needed on every "it" media plan. If you weren't on TV, then you weren't really advertising. Then, as the costs of advertising on television became prohibitive for many advertisers, media planners had to formulate creative media mix solutions to maintain top-of-mind awareness while keeping costs low. Still, if you could afford TV, it was considered as a premium option.
This isn't the case anymore. While TV remains a force with which to be reckoned, the new darling in the media-planning world is social media. According to a survey of MediaPost subscribers conducted by the Center For Media Research and Insight Express reports that:
"...the media-buying plans of advertisers and agencies indicates that having a 'presence on social networks' is one of the top priorities of their media plans for next year."
The 2010 Media Planning Intelligence Study, which was released yesterday, found that 56.3% of those surveyed realistically have plans to use social media on their upcoming media plans. This information was released a month following Interpublic's Brian Wieser concluding that social media is not a form of advertising.
While not entirely surprising, the fact that those responsible for media decisions place such a high value on social media is telling. Like it or not, social media seems to be here to stay. Perhaps of more importance is that "non-traditional media such as online, mobile, and other emerging media platforms slightly outweigh the 'traditional' media (TV, radio, print and out-of-home) plans among these respondents for 2010: 57% to 43%."
No matter which way you look at it, the study seems to state that advertising is going digital, but don't scrap your TV reels just yet. Another finding of the study is that, "Both agencies and brands would ideally buy more national TV than they will realistically buy," which shows that TV still carries a prominent position as a prestigious medium.