This wine is too good for toast-drinking, my dear. You don't want to mix emotions up with a wine like that. You lose the taste.
Working Media no longer works on its own. This is far greater than a media buying challenge. It is actually one of the biggest issues facing every marketer today regardless of size or industry.
We used to maximize the ratio of working to non-working as best we could.
Non-working media includes costs related to production, talent, promotions and fees paid to agencies. Working media is – plain and simple – paid media, otherwise known as the dollars paid to media partners in return for media impressions.
The old calculus – or current calculus depending on who you are – referenced that 80%+ of any budget should go to fund working media. For the day, that was completely appropriate. It was foolish to spend money for line items not directly leading to exposure among a target audience. For decades, we were basically buying GRPs dressed as a middleman intended to lead us to our goals: awareness, intent and purchase.
At that time, our industry counted TV, radio and print as its workhorses. Radio and print, while still player, have been largely replaced by digital as the new thoroughbreds of the media mix – specifically: online, mobile and social. The difference between the old guard and the new one is engagement. Nobody has ever engaged with a radio spot or a print ad. They may have taken action, but they could not do so within the unit itself. Digital changed that landscape starting with the earliest banner and has been changing it again and again ever since. Even TV, now and forever a critical factor in achieving marketing objectives, is more effective when paired with digital.