New Spin On Old Ad Strategies?

by Jay Deragon on 10/12/2009

The ever changing web is forcing the advertising industry to rethink its strategies as a result of consumer preferences for all things social.

In an article from [email protected] titled Project tries a new spin on old ad strategies the article states “But until now, there has been surprisingly little coordinated effort to reinvent the science of advertising or to rewrite the basic manual of what strategies don’t work and which ones do — and under what set of circumstances.

That is the mission of a new effort by the Wharton School’s SEI Center for Advanced Studies in Management — called the Future of Advertising Project. It seeks to collect case studies and data, and ask experts to debate the best new practices in the fast-changing world of marketing, while using new media to build a broader audience for its work.

Partnering with the search-engine giant Google, the Wharton project took a step in that direction this fall with the launch of a new channel on Google’s YouTube site called Fast.Forward offering what it calls “quick perspectives” — primarily in the form of short video clips — on the future of marketing from executives, ad gurus and academic thought leaders.”

Can Old Knowledge Create New Knowledge?

New knowledge is something you acquire. Old knowledge is something previously gained. As the world of advertising looks to gain new insights and knowledge to the impact of social technology on advertising practices the challenge will be one of listening and learning. Knowledge can be gained from experience but in an environment where experiences are created by the consumer it will be interesting to watch and learn who listens and learns the most.

What used to be formal institutions of learning, i.e. Wharton, are now becoming institutions of how to learn. The difference is in the subject matter. The subject matter at hand is a moving dynamic fueled by communications which have empowered the consumer. Learning how the consumer uses communications and communicates to their market is an ongoing study whose dynamics change has fast as the technology changes.

The point is that this transformation will not be self contained in any one study or standard set of practices.  It will require a transformation in thinking where, when, how, what, who and why a market responds. Thinking everyday and listening to the changes fueled by the market of conversations is a process yet to be defined. These markets are driven by the consumer and sometimes the knowledge is hidden behind what you see and hear. Get it?

What say you?


{ 10 comments }

ingenesist October 14, 2009 at 11:45 am

RT @JDeragon http://bit.ly/187L9K

Aron Stevenson October 13, 2009 at 12:37 am

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Dale Lawrence October 12, 2009 at 8:47 am

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John Lai October 12, 2009 at 8:37 am

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JobShoots October 12, 2009 at 6:20 am

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Brendan McManus October 12, 2009 at 6:19 am

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Wales Social Media October 12, 2009 at 6:15 am

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Mike Taljaard October 12, 2009 at 6:15 am

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smconnection October 12, 2009 at 5:38 am

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AllThingsM October 12, 2009 at 5:17 am

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