A lot of folks ask us, what is media convergence? The best way to describe media convergence and how Prizm employs it is as follows: Media convergence combines traditional media and online media to provide multiple outlets to reach a target demographic. Media convergence provides not only return on presence with traditional media but also return on investment with online media.
Traditional Media (tv, radio, newspaper, billboard) doesn’t measure the actual eyeball, but rather impressions. Nielsen Ratings says we think this many people saw your program or commercial but in reality, they don’t know whether you fell asleep or fed the dog. We consider this a “return on presence” investment.
On the other hand, Online Media (web, email, social media) can measure the eyeball. We call this “return on investment”.
I’m sure many of you are saying, wait a minute, we’ve been measuring our ROI on traditional media for years. Yes, but you’ve actually been measuring your return on investment on what was available to measure. Now’s there’s more opportunity.
For nearly a decade, the maturity curves of media have been shifting. As we have studied this fact, we also understood that media convergence would provide the client the best of both worlds. Presence is still important as television has the ability to communicate to the masses, even though we don’t exactly know to whom. On the other hand, we can now talk to an “audience of one” with the ability to reach many online.
With Media Convergence, the power is now in our clients’ hands. If you are going to create a Media Site(tm) to build B2B or B2C relationships with your audience, you might also want to think about other communication styles such as EVM Mail(tm) – video email – or commercial television. If you strategize your goals in advance of shooting one element of communication, you can impact your budget and consistency in communication three-fold.