The digital landscape is changing and consumers are using social networks to cut the cord from TV, Magid Abraham, president and CEO of market research firm comScore told attendees at a recent GWSB CEO Forum.
The April 6 event, hosted by GWSB’s Salah Hassan, chair and professor of marketing, was conducted in cooperation with the American Marketing Association’s D.C. chapter.
Abraham said marketers have an opportunity to interact with their customers in a new way. “The PC-web is no longer really where the action is. Mobile is a very significant element of the experience. In the space of one year, portals have declined; social media and entertainment have grown,” he said.
Email use has started to decline, and younger people are increasingly using text messages or chatting on Facebook to connect, Abraham said. In addition, social buying sites such as Groupon and LivingSocial are growing in popularity. And online video is the biggest threat to the cable companies.
In the area of mobile devices, the leading activity is texting among all users, including those who have feature phones. Unlimited data plans are driving this activity, and smart phone users dwarf the activity of all other users, he said.
Among other insights he shared with the audience, Abraham concluded his remarks by saying that the 18 to 24-year olds have been the leading indicator for all major shifts in media consumption over the past decade. If you want to see the future, look to what they are doing now, he said.
Posted by gwsb on April 21, 2011 | Filed under: GWSB News.