Video killed the radio star.
Internet is choking newspapers.
Could in-store media make television advertising obsolete?
TV ad executives are scrambling to assure investors they’re not in trouble. However, CBS shares dropped nearly 13 percent after announcing a quarterly loss and revenue well below expectations. The network has even gone so far as to advertise to its advertisers.
In-store media and shopper marketing has its share of skeptics as articulated by Peter Breen at the In-Store Marketing Institute. Although television advertising is suffering in the recession no one is calling for its total demise, but the writing may be on the wall. Smaller ad budgets, shorter attention spans and TIVO-using, commercial-skipping television audiences are taking a toll. Prices of ad buys have dropped, however the creativity required to capture the consumer’s attention is at a premium. Adding more fuel to the fire are consumers asking the question, “What’s in it for me?” Frugal shoppers want to be convinced that a purchase is valuable. Dr. Pepper Snapple Group’s Rob Colarossi said at the In-Store Marketing Summit, “It’s not about the brands. It’s about truly understanding and looking through the lens of the shopper.”
According to Breen, retailers are catching on. In his article, “What ‘Shopper Marketing’ Means to Me” he cites several examples of how retailers are implementing shopper marketing programs aimed at creating lift by catering to shoppers’ needs in the store.
Predicting the demise of television advertising may be a stretch. However, at the minimum a symbiotic relationship must begin to emerge between TV and in-store media. TV ads may get them there but in-store media makes them buy.
