This is something I keep talking to people about and it always seems like no one in traditional media is listening. It reminds me of the slow death of newspapers and magazines. Monetization of ads is about to shift big time.
Photo by: Mike Mozart
There was a great article in AdAge a few days ago about Ruby Tuesday giving up on traditional media advertising and going all in on digital. Now you may not like Ruby Tuesday’s food (or maybe you do), but they are a decent sized company with over 700 restaurants.
Here’s the thing – they are losing their customer base (and therefore profitability), so they are trying something different. That’s typically when people will take risks, because you have nowhere to go but up. Ruby Tuesday is going almost entirely with social media and streaming – basically where all the important ad traction is going (whether you like it or not).
Their new ads are now laser focused and have excellent potential. They are even using geotargeted ads geared to specific locations. This means they are going to connect with their target audience … directly.
So if I am a company buying ad time, what do I want? Old fashioned blanket coverage tv ads that can barely / maybe reach some of my market or targeted digital ads going directly to my exact market? This is a no-brainer.
People aren’t going to be watching tv the same way much longer (unless cable & broadcast gets their act together fast) – the next generations are already starting to ditch tv (if they haven’t already). Seeing companies like Ruby Tuesday jump to digital platform advertising with forward thinking ad firms like Vaynermedia is yet another wake-up call for everyone who is trying to pretend this is still the good old days. The market is changing fast. Get ready.
Read the Ruby Tuesday AdAge article here.