New and Traditional Media Mix
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New media plans like blogs and social media profiles start out inexpensive but become more effective over time as knowledge increases, though costs also rise. Traditional plans like ads start out costly but effectiveness improves over time as knowledge grows, while costs decrease. The optimal mix is reached when effective new and traditional plans intersect, boosting effectiveness without extra spending through viral sharing.
New and Traditional Media Mix
- 1. New & Traditional Media Mix. HIGH EFFECTIVENESS } VIRAL TR ME AD D M EW IT IA IA IO N ED NA L HIGH W LO TIME/COST New Media plans start out ine ective and take little time to create (i.e. setting up a blog or Facebook page). Over time, as knowledge increases, and more time is spent shaping the plan (i.e. advertising, search engine optimization), it becomes more e ective and more costly (i.e. social media buys). Simultaneously, Traditional Media plans start out ine ective, but take more time and cost to create (i.e. producing a commercial or print ad, then placing it). Over time, as knowledge increases, and more time is spent shaping the plan (i.e. determining appropriate placement with the greatest returns), it becomes more e ective and less costly (i.e. learning curve theory, production costs remain relatively constant). Once an organization has e ective New Media and Traditional Media plans, the two intersect creating the optimal media mix. It is at this magical point e ectiveness increases without additional time and cost, and the boost is viral.