In the Borrell Associates forecast, “2013 Automotive Advertising Outlook – Watch the Road Signs,” the future of automotive advertising on broadcast media is spelled out – and it’s not pretty. The report says, “For decades, media fortunes rose and fell with the success of the biggest advertisers in most towns – car dealerships… No more.”
Why?“Digital media has reshaped the long-touted car-buying funnel. It’s been compressed into a shot glass where researching a purchase has become so easy that consumers can talk their search – and do nearly all of it online.”
What’s ahead for radio? Borrell forecasts a 16 percent decline this year, compared with newspaper (down over 29 percent) and broadcast TV (down 16.7 percent). Not surprisingly, online and mobile are up 18.7 percent; and direct mail is resurgent with a 23 percent increase.