Fragmentation in the media and entertainment (M&E) landscape has had a profound impact on media consumption. It has also meant a shift in power, away from M&E companies. It’s consumers who now decide what they watch and where and when they want to watch it.
This shift in power is hitting the M&E industry right where it hurts: ad sales. After all, monetisation is a huge challenge when you have to offer your content on every platform or channel used by your target audience.
“There’s a lot of fragmentation in the way people are consuming [content] and I think as a marketer, you can see that either as a challenge or as a huge opportunity,” said Walter Levitt, CMO of Comedy Central. “Comedy Central has made it their mission to be anywhere Millennials want to laugh.”
While the sitting room has traditionally been the only place where content was consumed, that is no longer the case. In fact, research from Adobe Digital Insights shows that consumers are increasingly spending more time watching television programming outside of their sitting rooms. And that trend is only going to continue to grow.
Indeed, consumers are relying more on their laptops, mobile devices and OTT devices for television programming. How does an M&E company navigate through this new, fragmented digital landscape?
According to a new report by Adobe, CMO.com’s parents company, “M&E companies operating in this environment require more disciplined measurement, analytics and data-driven marketing—with a focus on audience intelligence, engagement and revenue optimisation.”
The report outlines six steps that companies need to take to conquer this ever-growing fragmentation:
- It’s never been more important to have a multichannel or multidevice strategy.
- Capture, consolidate and manage online and off-line audience data.
- Deliver personalised experiences across all touch points at the right time.
- Manage the customer journey, from anonymous prospect to loyal advocate, with personalised campaigns and many options to engage your audiences.
- Past measurement tools don’t track viewers across all touch points. And what isn’t tracked, can’t be sold. Today’s smart M&E companies are using new digital technologies and marketing platforms that allow them to maximise revenue.
- Earn loyalty by producing great content and experiences.
Click here for the full report (short registration required).