Based on the new MediaVillage Media Brand Equity Survey of 1,200 advertiser and agency executives, the media industry is leaving behind strong relationships and positive brand equity as it places increasing dependence on data and analytics. While no one questions the importance of data to compete effectively in today's marketplace, media companies should be asking "at what cost to our brand?"
Data is required for competitive apples-to-apples comparisons; good storytelling about data, content, audiences and value is required to define its relevance to core constituencies of advertiser and agency decision-makers. In today's flooded media environment it's hard for a media brand to gain clear differentiation and relevanceand even more difficult to validate brand affinity with its audience or provide assurances of ratings and revenue growth sustainability. These four attributes, plus brand purpose, are the defining qualities of brand strength and vitality.
Advertising and media industry investments in data and analytics have grown exponentially in the past decade. Investments in building and retaining relationships and brand equity through content marketing, storytelling and thought leadership have declined precipitously and the industry is paying a heavy cost that will inevitably come back to haunt it. Among all major industries, media and advertising ranks at or near the bottom in investments in brand building through content marketing. Across all industries, companies spend an average of 28% of B2B marketing budgets on content marketing, storytelling and thought leadership. Category leaders invest more than 40%. Advertising agency and media companies spend well under 10%. * (Investment would be an inaccurate term, since ROI criteria are rarely incorporated into B2B budgets that are typically spent on outmoded trade ads, conference sponsorships, and boondoggle events.)
Social Media and SVOD Brands Top the Media Brand Equity Charts
MediaVillage organized the 147 media brands into 14 categories, defined based on their primary distribution model, content genre and/or target audience focus. The chart below reflects the comparative brand equity score of each category based on the composite average of media brands incorporated in each grouping. The overall equity score is based on 1-100 while Brand Strength, Brand Vitality and Brand Purpose reflect average 1-10 ratings.