Sometimes people get blinded by innovation because they can only reflect on those things they’ve always done. As we look at the advertising and marketing world we can see they continue to try and apply old rules and methods to a new dynamic called social media.
Alexandra Klein writes for CNBC.com an article titled Evolution of Web Ads: Social Media’s New Challenge
With more money being allocated to digital communication strategy, ad agencies are constantly looking for ways to get their product to the right audience more efficiently. And sometimes, they’re overstepping. It’s an issue that would have been difficult if not impossible in other advertising mediums, according to David Wiener, a social media expert with Ogilvy & Mather Worldwide.
“This is a new arena, and as technology and platforms evolve, privacy policies will be written to evolve as well,” he said.
Meanwhile, ad networks like SocialReach and SocialHour are learning as well. The two were banned by Facebook in June for infringing on the platform’s policies. SocialReach continues to work with Facebook on ultimately returning to the platform, according to Phil Hirsch, a SocialReach spokesman.
“We took a big hit from Facebook and we are trying to do the best to get back to the Facebook platform,” he said. “Now it is just a matter of figuring out the rights and the wrongs [of advertising on social networking sites.]”
Ogilvy’s Wiener said third party developers will have to be more responsible with users’ information going forward, especially now that the sharing of content has become far more prevalent.
“My sense is that there is far more sharing and there are far more robust platforms to be able to share this information than ever before,” Wiener said. “From a marketing perspective, messages can be tailored to the user…platforms must be very upfront about what is allowed.”
Wiener said engagement between marketers and users, or co-creation, will be the primary method of reaching out to users in the near future.
“Marketers will have a more clear idea of whom they are going to reach and the consumer will see a lot more targeted messages,” Wiener said. “Co-creation is super hot. You are seeing traditional advertising response rates go down as users expect to be part of that conversation, part of that engagement.”
You Got It Backwards
Brands pay attention. People don’t really want to be part of an institutional message aimed at tricking them into a purchase that is not relevant to their needs. People don’t want to engage with a brand rather engagement is a human dynamic between people not an institution that people have grown to mistrust.
People want value. Value comes in many different forms but the predominant value in today’s economy is money. Give us or save us money and you’ll get our attention. If a brand saves someone money or simply gives them money as an incentive to a purchase what they “need” then that is the fastest route to a possible institutional relationship. It is not nor will it ever be a personal relationship.
The rights and wrongs of “advertising” in the digital space are not relevant to applying old methods, old thinking or doing things the same way you’ve always done them. Advertising is undergoing a revolution vs. an evolution. Evolution implies incremental change. Revolution implies disruptive change. The firms that create a revolution end up creating new markets and leap frog ahead of their competition. Those firms that follow evolution end up chasing the revolutionaries while all along loosing share of their market. Get it?
Stay tuned for a revolutionary way of advertisng and marketing coming soon to a network yet to be seen or heard. It’s called conversational currency. Are you ready?