Social media gets a lot of attention, from both advertisers and consumers alike but does investment in the channel pay dividends?
It can, up to a point but recent research shows that brands are spending triple the level required for optimal growth. New analysis by EssenceMediacom has found that brands are spending up to three times more than they need to on paid for social media. This is coming at the expense of traditional media such as linear TV.
Whilst the global spend for social media advertising was up 16% in 2023 it appears that this flow of cash into the medium may not be the right move for many advertisers. Linear TV in particular has been highlighted as an area that is suffering from underinvestment. The study mentioned TV (linear in particular but also VOD) as a media channel with much more potential for delivering growth for advertisers.
Of course, no analysis is foolproof. We also applaud advertisers who are willing to embrace new opportunities and make the most of new technological developments. However, our position as a direct response advertising agency offers us a privileged vantage point.
Brands should consider the entire media mix
We can see quite clearly from our own response analysis that the more traditional media such as press, TV and inserts still reliably deliver sales and growth. There is no denying that online opportunities are important and should be considered as part of a cohesive media strategy. However we urge a degree of caution and a solid rationale for ALL media activity. Just because your competitors are doing something does not mean it’s right for you. It might not even be right for them…
Every advertising campaign is different but if you’re putting a large percentage of your budget into paid social media you might not be seeing the returns you need. At AJ we deal with the whole media mix. We know how to optimise your spend for the most efficient campaign.
If you’re looking for honest and impartial advice on the best media strategy for your business get in touch. We’re experts at getting the most from your advertising budget, across all media.