There is no denying the widespread use and remarkable impact of "new" media. It is enormously important in the lives of consumers, particularly Affluent’s, and is becoming more so. Further, any business that suddenly finds 20-30% of its best customers "experimenting" with less profitable options will face important challenges and serving them. We always believe that a blending of both New and Traditional methods are best.
In an interesting analysis this year…
Throughout 2011, AdAgeStat(Kraus& Shullman) professes while using it’s Mendelsohn Affluent Barometer to track new and traditional media use among American Affluents. This monthly survey consists of more than 1,000 online interviews with respondents making at least $100,000 in annual household income -- in other words, the 20% of Americans who account for about 60% of U.S. income and approximately 70% of U.S. net worth. The survey was conducted between March and May 2011.
In the same way, it has been well-documented that younger consumers differ in their media-consumption patterns from their older counterparts, and certainly they have been earlier adopters and heavier users of some emerging and alternative platforms. But even today's younger generation shows the characteristic pattern of tending to consume media through its most traditional outlet, even as they show more cross-platform "experimentation." For instance, among those aged 18-34:
•88% read magazines in print, followed by 35% who read them online
•Newspapers show the greatest amount of experimentation -- 70% read newspapers in print, followed relatively closely by 54% who read them online
•94% view video content on TV, followed by 35% who do so on computers
•93% read websites on computers, followed by 38% who do so on smarthphones
The moral of this story seems to be that those that can provide a combination of both new media and traditional media is surely to get the best results for their customers.
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