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No, the mediums are going to have to seek equilibrium like when TV first replaced print and radio as the dominate media for reaching people. Interactive/social marketing is very popular but the messaging has its limits. Will there ever be an interactive event that can deliver the sheer volumes of eyeballs that TV events can - there is no arguing with that.
The nature of interactive is that we as marketers can reach smaller, more intimate audiences with a more detailed message but for sheer exposure, it cannot compete with TV. Depending on the target audience, print and direct mail still delivers. Radio for the minority communities is a strong buy.
I think if we learn anything from the rise of interactive is that we need to develop a mix of media to best reach target audiences instead of placing all of our eggs in any one basket. It is important to control our brand, and what it stands for.
It isn't the medium, it is the message, the shift has to be in how we talk to customers. Traditional marketing is alive and strong. I think interactive is simply another tool to add to our marketing tool kit.