Newspapers and magazines need to brace for declining revenue as advertisers shift budgets to digital and social media over the next three years
"TV still remains the most important and effective media channel for brands to build awareness among the mass audience. However, digital and social media are increasing their important role for brands to boost sales," Witawat Jayapani, a marketing expert and chairman of leading media and creative agency, Creative Juice Bangkok, told The Nation last week.
In three years, ad spending on digital media is expected to reach Bt10 billion(S$414 million) , almost double last year's Bt5.86 billion, he said.
The media industry tracks gross domestic product growth of about 3-4 per cent a year.
A reason for the dramatic growth of ad investment in digital media is the big budget reallocated from mainstream print media.
Brands can communicate with, engage and convince customers connected to social and digital media to convert their interest in products and services into purchases.
"Today's consumer behaviour is transforming into a new pattern of ROPO," he said, referring to "research online, purchase offline".
Mobile Internet users growing to about 28 million is a key reason.
Besides chatting and sharing their experiences with friends and family via social media such as Line, Facebook, Instagram and Twitter, consumers also use such channels and webboards or community sites to research products and read reviews and comments before making a purchase.
Brands and companies are focusing more on creating and placing the necessary content for targeted consumers on social and digital media.
If online payment was more accepted by consumers and mobile Internet users hit more than 50 million, an e-commerce service should be placed and available right near each product review.
Print media should seek a proper strategy and develop new offers for clients, he said.
Nielsen Media Research said the expenditure via newspapers last year suffered a huge drop of 10 per cent to Bt18.37 billion from Bt20.74 billion in 2013. Magazines saw a 16-per-cent slip from Bt5.95 billion to Bt4.99 billion.