OnMedia - KPMG Survey
Michael Monahan of KPMG — OnMedia NYC 2008 Survey - 300 marketing execs surveyed on how new media has impacted marketing, branding, advertising and public relations activities.
What are the 2 most disruptive forces in media today? 1. social networking and 2. online advertising. No surprise here. Most see more confusion and an entirely new media mix evolving. Again, no big surprise.
Monahan sees opportunity for individuals, VCs and others to bring clarity and new ideas to the market.
Most respondents see money fleeing traditional advertising into new channels.
How long will it take old media acquisitions of new media to pay off? Most say 4 to 5 years. 9% said never. I’d suggest the 9% will probably be proven correct.
91% percent say advertisers have NOT figured out how social networking fits into their marketing mix. Again, no surprise at all. Most respondents feel ad agencies have no or little plans to leverage social media for their clients.
The net-net… there doesn’t seem to be much trust or belief that ad, marketing and public relations agencies have any idea how to play in the new media marketplace. There’s a lot of confusion regarding the return or benefits of online advertising vs. traditional channels.
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With regards to your last comment about “the return or benefits of online advertising vs. traditional channels” — I think you have introduced some confusion yourself.
After all, “traditional” (i.e. banner-based) online advertising has been proven VERY effective over the last 10 years as that market has now matured. It can even be argued that banner-based online advertising is now a “traditional channel”, by your inferred definition of the terms.
What hasn’t (yet?) been proven effective is how new forms of online advertising will work, and I suspect you’re right in your assessment: advertising on these new social media sites won’t be nearly as valuable as many seem to think.