The above video interview is from the ANA TV & Everything Video Forum.
Sponsored by
American Family Insurance sponsored a 10 episode branded WebTV series produced by NBC Digital. Jack Myers moderated a panel at the ANA TV and Everything Video Forum in NYC with Lisa Bacus and Telisa Yancy of American Family Insurance to talk about the digital initiative.
Only a few years ago, American Family Insurance allocated the majority of its media mix to a more traditional 30-second television approach with its modest marketing budget, in an ultra-competitive category. In 2009, American Family Insurance launched its first branded entertainment web series, which included several integrated entertainment programs with multiple media partners. American Family Insurance has also become a category leader in social media, gaming, and is also the first insurance company to advertise on the iPad.
American Family Insurance currently puts less than two percent of their budget into innovative platforms and about 15% of their budget into digital, which is fairly high compared to other comparable companies. What is that equation going to be in 5 or 10 years?
Marketers have historically been content agnostic and focused on platforms (buy advertising on TV, Radio, or Print). In the above video, Jack Myers argues that there is a transition towards brands becoming platform agnostic and associating themselves with content. In this spirit, many marketers are starting to produce and distribute their own content through any and all platforms.
Jack just released a media industry research report. His findings include areas of growth and decline over the next 10 years. Social media will grow from $1.2 billion in 2010 to almost $50 billion in 2020. Mobile will grow from under $1 billion in 2010 to about $17 billion in 2020. Interactive Television, event marketing, experiential media, point of influence marketing (advertising in a doctors office where someone is right at the point of making a purchase) are all growing as well.
So which areas are shrinking? Newspapers and print media of course. Direct marketing budgets (slotting allowances and retail shelf space at stores) will decline as well. In 2000, trade promotion represented 31% of the marketers budget. In 2020 trade promotion will decline to 20% of the marketers budget. That’s a huge amount of money that can be redistributed to communicating with and influencing the consumer. Bad news for retailers.
