The term “advertising ” and the related practices are dying a slow death. Advertisers have adopted different practices aimed at capturing consumer attention to products and services but while the practices have improved the methods have not adjusted to the desires of the markets.
Most advertisers have simply applied old methods and practices to the propagation of their message throughout the social web. Faced with restricted budgets and “poor responses” it is time for advertisers to become “born again” and change their methods to be more relational.
When you consider the purpose of advertising it is supposed to be relational. How does your product “relate” to my needs and what value does it deliver for me. However, advertisers have followed the mentality of the industrial era, mass production, and subsequently have focused on “mass media” to reach their audience which is an anti-social behavior.
Mass media doesn’t create relations rather it creates, or used to, attention. The problem with creating attention is that unless attention is followed by attraction it is nothing more than a waste of the consumers time and attention. Wasting consumers time and attention is an anti-social behavior that audiences reject. For advertisers the death of a brand, of sales and wasted money is any “act” that creates a rejection from the audience.
Advertising is not considered “social media” rather it is in fact “mass media. Believe it when we say there is a difference, a big difference. If you don’t understand the difference you loose your audience, your money and these loses will cost your everything.
Transformation Of Advertising
Josh Bernoff of Forrester writes: Digital Spending Will Nearly Double in 5 Years, But Ad Budgets Won’t
It means media is in trouble, or at least in the middle of a transformation. For example, online video ads, which will be about $870 million this year, will grow to over $3 billion in 2014. What will this do to networks plans to put more of their shows online in places like Hulu. How will it accelerate some newspapers plans to become more and more centered around online?
And it means that social “media,” which will account for $716 million this year between social network campaigns and agency fees, will generate $3 billion in five years. And this doesn’t even count displays ads on social networks (which are in the display ads category.) Of all the parts of digital marketing, social network marketing one is poised for the most explosive growth.
Pundits have been declaring the end of mass media and advertising for years now. From my 14 years of experience analyzing this stuff, I’ve learned that things die very slowly, but there are real trends you can see. If you’re in advertising, you’d better learn to speak digital, because that’s the way the world is going.
Many say “relational advertising” is impossible. It is to those who say so. It isn’t to those who do it. The advertising industry will simply have to learn how to create conversational currency. Get it? See the difference in the presentation below.
What say you?