From Inside Radio:
Where does radio fit in the marketing universe? Radio needs to see itself as one part of the larger media world if it wants to remain relevant to advertisers. That’s the message from Donna Speciale, president of investment & activation for the ad agency Mediavest. She believes the various media need to see where they fit into the overall marketing universe. “The conversation has to be holistic,” Speciale told the Digital Hollywood Conference yesterday in New York. That’s because ad agencies themselves are under pressure from their clients to rethink how they’re using the media. And while the list of advertising options is growing, budgets are shrinking.“There’s a lot of testing of what’s working and what’s scalable,” Speciale said. But as her agency crafts media plans for brands such as Procter & Gamble and Coca-Cola, it’s finding it can’t reach enough people online. That requires it to place cross-platform buys that keep traditional media, such as TV and radio, in the mix.
As I have argued frequently, “there is no such thing as radio” per se:
This is the single biggest challenge and opportunity facing broadcasters today, and it continues to shock me that there is so little rallying around this issue industry-wide.
In the long run, radio will either reinvent itself or stand by as others fill the available niches in the new media ecosystem that radio leaves unexplored.