An Advertising Story
Bermuda has been going through a quiet transition in advertising — the move from traditional to digital.
Influenced by the music and video industry, digital has been seeping into the Bermuda media landscape. The dampening of local media has left local companies trying to navigate to find customers and achieve measurable digital advertising results. Additionally, reports of population contraction, and maturation, due to a decline in the birth rate, has made the customer search and acquisition confounding.
Finding Local Customers Was Easy
For generations, the newspaper garnered the professional respect of the business community. With a staff of internationally qualified reporters, the paper would produce a localized product that would deliver a guaranteed audience. Advertisers would pay a significant amount for access to their reading audience. It was almost the same with local TV — paying a premium price to access a loyal viewing audience. In the past, if a company was seeking customers, buying a print ad or TV spot would deliver.
The Local Grip Loosens
Technology quietly loosened the newspaper and TV station’s grip on the audience.
The filter of technology unmasked a bias encouraging a shift to friendly digital platforms. Costs did not hasten the market change. Bermuda’s affluence allows it to consume both traditional and digital media. The character of the local media product, and its distribution, contribute to the shift from traditional to digital media consumption. The value the consumer places on digital sees the cessation of the daily newspaper purchase and monthly cable subscription — both reduce the local media’s reach and market influence — commodities media companies counted on to generate cash through advertisers.
Customers Resurface ... Digitally
Lost newspaper and TV audiences surface online.
Technology outflanked Bermuda’s traditional media companies by exposing their audiences to competitors of time and information scope. YouTube consumption stole the video attention of regular TV watchers (time). Meanwhile, Facebook, the gateway to a volume of friendly general interest stories (information scope), stole readers by serving personalized social news. And feeding FREE subscribers “news” from white supremacy and black power movements — thank the robots (algorithms) for acting as your helpful and friendly news reporters — which is a sure-fire way to emote outrage, sharing and stickiness.
Capturing Customer’s Attention Online
If you are looking for customers, you can find them online.
Many local companies have trialled Facebook advertising. The results are fantastic! Best of all, you can do it yourself, which makes it virtually free and easy. Facebook gives you FREE access to all of its audiences with a tradeoff. What is the trade? Well, ask Facebook. No, seriously, try asking Facebook — their digital customer service is flawless.
Cheap and easy advertising over Facebook is a quick win, but it does not necessarily help business owners with business strategy. Consider that you will have to do the work, and spend your money to learn what works for the business. Investing your money into Facebook is like going to a digital advertising school that keeps changing the textbooks.
If you want to apply a strategy to digital media, you have options.
A) Talk with a media professional, call 505-1779. B) Boost your post and let the spending adventure begin.
On The Homefront: The Quiet Advertising War
Local media had to place their product on a social media platform to be seen and watched. The same digital platform — that steals readers and viewers attention — has to be relied on as a source of distribution and reach. Worst, the digital platform is monetizing the content produced by the local provider.