CEO at Hootsuite | Empowering companies to drive revenue from their social media relationships | Growing businesses and people
I have a front-row seat to the biggest shift in media for businesses: The decline of TV ad spend, and the growth of social media ad spend. “Television advertising is in free fall,” according to Martin Peers of The Information. 📺 The proof: Recent disappointing earnings from Paramount Global and NBCUniversal. (The latter showed an 8% year-over-year drop in domestic advertising.) Meanwhile, Meta Platforms and Google reported solid ad growth 📈 . According to Peers, “Google’s YouTube gained $881 million in ad dollars in the third quarter, an increase of 12.5% over the year-earlier period.” I don’t have to look far, either. As CEO of Hootsuite, I see the shift happening in real-time, every day. Our enterprise clients are increasingly seeing the business value that social — both paid and organic — bring to their top-line revenues. They’re netting results that TV just can’t deliver. Plus in social, you have a unique, direct line to building deeper 2-way relationships with customers (priceless, right?) So while TV executives are “nervous,” as Peers says, your business shouldn’t be. If anything, get excited. If you thought social media revolutionized things before, you haven’t seen anything yet.
And Hootsuite is a key part of that revolution, Irina Novoselsky. It's alllll about business-customer relationships, and short of brick and mortar or customer service, you can't match that anywhere else besides social. Love this!
Content creation is so important for businesses and yet most leaders still don't take it seriously.
You hit the nail on the head. Who needs TV when you can directly chat with your customers online? It's a no-brainer!
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Driving business growth through marketing persuasion| Head of Marketing @ HypeFactory Influencer Marketing Agency | ex-Nestlé | ex-Nike
7moIt's so true that TV effectiveness is declining Irina Novoselsky. Social media have taken over many functions from TV, including entertainment and news checking. I believe TV needs to re-establish its role in the future. Social media offer new opportunities for businesses, ranging from community marketing to building brand trust through influencers. However, the clutter and saturation are also increasing in this space. Welcome to the new era of marketing.