Tag advertising

Back to Marketing Basics 0

Back to Marketing Basics

Dear Diary,
Is it me or does it seem like a lot of marketers have lost their way lately?

Don’t get me wrong. I recognize that what was once a pretty simple discipline has become remarkably complicated thanks to competitive pressure, media fragmentation, technological advancement, migration from one screen to three, the rise of the Digital Native, globalization, broadband, and the extinction of the Dodo. Still, marketing does not need to be so complicated…   continue reading »

Ready? Set? Infiltrate! 2

F**k paid media. 6

Attribution-NonCommercial-NoDerivs License by daniel arnold!

Just got out of the morning session of AdAge Digital Conference where Union Square Ventures’ Fred Wilson discussed the idea that it’s time we start investing in “earned media” in addition to the good ole fashioned paid variety. Then he shared this point of comparison:

Two ad spots during the Superbowl cost roughly $4MM continue reading »

The sky is falling! The sky is falling! 2

If you think Chicken Little is just letting off some steam, think again. This sh*t is bananas, people. And not in a sassy, Gwen Stefani kind of way.

What am I talking about? The massive, apocalyptic upheaval taking place across the media industry right now… the realization of the Chaos Scenario.

[insert melodramatic sound effect here] continue reading »

Recession? What recession? 8

Dec11

Recently, my pal @MarketerBlog drew my attention to this post which suggested that brands that INCREASE their marketing/ad spending during a recession stand to gain a SUBSTANTIAL competitive advantage.

Skeptical? Of course you are. Still—take a moment to consider these tasty data points (from Innovating through a Recession by Professor Andrew J. Razeghi at the Kellogg School of Management at Northwestern University):

  • Increasing advertising spending during economic expansion often yields no improvement in market share, because 80% of your competitors are also increasing their spending.
  • Businesses that maintained or increased their advertising spend during recession averaged higher sales growth during the following three years
  • Within four years, the businesses that maintained or increased their advertising spend during that recession experienced a 256% growth in sales over those that had cut back on advertising
  • A decade later, aggressive recession advertisers increased market share 2½ times the average for all businesses during the post-recession

Surprised? You shouldn’t be. It’s your basic, “Buy Low, Sell High!” strategy. Nothing new here. The problem aint that we don’t know better… it’s that we’re too busy behaving like lemmings to do what we know is right.

Hell, even the guys at The Economist are preaching a “spend more on advertising” strategy. Granted, they might just be hurting for sales… Still, they make some pretty compelling points in this well-designed, cleverly-executed pitch (worth a read, I promise):

[slideshare id=719048&doc=economist-ads-on-edge-recession-1225787269595748-9&w=425]

My take-away message? Getting through this ‘recession thang’ is a bit like driving through a blizzard. When you hit a patch of ice, instinctively, you want to turn your wheels AWAY from the direction of the skid. DON’T. Even though your knuckles are turning white and every cell in your body is screaming “TURN AWAY!!!!! AWAYYYYYYY, YOU IDIOT!!!!!!!!!!!!”

Turn IN to the skid—or kiss your sweet, scared ass goodbye.

Why Traditional Advertising is Kinda F**ked (and what we should do about it!) 20

Oct1

Attention brands, business owners, advertising agencies, and media peeps!!!!

I have some bad news. And it’s not about the financial markets, the election, or your expanding waistline. Nope—it’s far, far worse.

Are you sitting down? Good. Here it comes…

TRADITIONAL ADVERTISING IS IN A DEATH SPIRAL.

That’s right. DEATH SPIRAL.

Now before you freak and jump out a window (or worse—post nasty anonymous comments in reply to this statement), allow me to explain. And yes, to propose a solution… I am a Genius, after all.

Traditional Advertising’s “Death Spiral” can be attributed to 3 recent phenomena:
1.    Clutter
2.    Trust
3.    Social media

Let’s talk.

Clutter
I don’t know about you, but I hate clutter.

A little bit of nice, clean white space feels so much better.

If traditional ads were spaced like these last few paragraphs, they might actually WORK.

We might actually even ENJOY them.

But instead… most ads are more like this:
piledandsquishedrightontopofoneanothersothatwehardlyhaveachancetotakeabreath
letaloneprocessanyinformationordecodeanyoftheproductmysteriesorevaluatewhat
makesthembetterfastermoreeasiernewerDIFFERENTERorinanywaynecessarytoour
existenceonthisincreasinglyoverpopulatedplanet
GASPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP!!!!!!!!!!!

Clear as mud? ☺

The worst part is that the Clutter Problem is escalating at a DEATH-SPIRAL-INDUCING rate.

Consider this:
In 1998 Google had an index of 25M pages. As of this summer, its index had hit the mind-blowing milestone of 1 TRILLION UNIQUE URLs.

A F**KING TRILLION!!!!!

Still more to consider:

There are >100,000,000 videos on YouTube.com—with >65k new ones being added DAILY.

In 2005 (most recent data I could find), there were roughly 40 BILLION product catalogs published. That’s equal to 134 catalogs for every man, woman & child in the US.

Yes, folks, the average person is exposed to some 3000 marketing messages per day… but the American Association of Advertising Agencies says we’re only able to absorb (at most!) 100.

And let’s face it, that’s probably an inflated number.

PS. 90% of people who can skip ads, do.

Yes, but most of those messages are crap. What matters is good creative. Killer copy. Pretty women with big boobs wiggling around to a HAWT soundtrack.

Ok… NO. Neither creative nor copy nor boobs—nor any combination of the three—are likely to solve the clutter problem. Besides… you’ve got 2 more hefty problems to solve.

Trust
“Lets talk about trust baby, let’s talk about you & me…”

People don’t trust advertisers. Period.

You know it. I know it. Let’s call a spade a spade and move on. But in case you’re still skeptical (or just plain crazy), here’s proof:

“In a 1998 Gallup poll rating honesty and ethical standards across a range of professions, advertising people ended up near the bottom, sandwiched between lawyers and car salesmen.”

SANDWICHED BETWEEN LAWYERS AND CAR SALESMEN, people!!!!! And perhaps, if we were to redo this poll today, they might change those to “Politicians and Pimps” (both of whom are better-dressed, frankly-speaking).

On the complete opposite end of the spectrum is the trust that most consumers have in the opinions of other consumers.

“‘Word-of-mouth’ the most powerful selling tool…78% of consumers say they trust the recommendation of other consumers.” - Nielsen, Trust in Advertising, 2007 Global Consumer Survey Report.

And the trend is particularly true among younger consumers—namely, the ¼ of the US population (ONE F**KING FOURTH!) who are 14-24yo and were born wired.

Raised in a time where “SPAM” and “COOKIE” don’t automatically conjure images of food, today’s youth LIVES and BREATHES online:

  • They spend >16 hours online/week (online > TV)
  • 56% spend >1 hour daily sending instant messages
  • ¼ prefer social networks to F2F time with friends
  • Have an average of 53 online friends (vs. 11 “close” friends)
  • 96% use a social network DAILY

And they don’t care about your ad, people. They care what their friends think.

Trust me. ;)

Social media
Ah… every traditional advertiser’s favorite topic! YAY! Let’s hug.

Seriously, now—it’s common knowledge that people don’t like intrusive, one-way conversations. What is traditional advertising but an intrusive, one-way conversation?

The paradigm is shifting. Fast. Hard.

Ahh… The Solution!

Should we make the logo bigger?

Craft a catchy new tag line?

More girls? Bigger boobs?

No, no, no, no, NO!

Traditional Advertising’s Terminal Illness (aka Death Spiral) shall not be cured by a larger helping of the Same Old Shi*t. You’re going to have think different. Act different. BE DIFFERENT.

REALLY DIFFERENT.

Start by shifting your focus more on branding and less on advertising. Yes, branding. That magical je ne sais quoi that ultimately results in the feelings/thoughts/attitudes that people have about your product/service/company.

You mean our tagline?
No.
Our logo?
No.
The killer copy on our website?
No.
…..Our tagline?
No.
Are you sure?
Yes.

Your brand isn’t what you say your company/product/service is. It’s what THEY say it is.

Branding isn’t advertising.

In fact, it’s more like… your child. You can’t control it (though it’s natural to want to try)… but you can [and should] certainly influence it, enable it, embrace it, and inspire it.

Start by listening. Really listening. No, REALLY listening.

There. Doesn’t that feel better already?

The 2008 Bonafide Genius Awards 0

Jun5

I decided this morning that if I must tolerate this brazenly idiot-ridden world day in and torturous day out, the LEAST I can do as a Bonafide Genius is acknowledge the scant flecks of brilliance that do occasionally grace my horizon.

In fact, I’ve decided to do more than acknowledge—I’m going to celebrate them, goddammit! If MTV can give out awards to the morons that claim 15 minutes of embarassing fame on Reality TV, then by golly, a Genius such as I can preside over her own goddamn award ceremony!

And so… the Annual Bonafide Genius Awards are born. Official 2008 Awards to be announced on August 8, 2008 (Get it? 8/8/08. Oh so genius, yes?)

I’ll happily consider nominations… post them in the comments or email them to me (mzkagan99 [at] gmail [dot] com). Please include the relevant Genius category (ie is it advertising genius? marketing genius? fashion genius? musical genius? foodie genius? etc.).

And just in case the lot of you are both stupid and lazy, I’ll throw in the first few nominations myself:

Music Video Genius:
Weezer, Pork & Beans video

[youtube=http://www.youtube.com/watch?v=muP9eH2p2PI]

Brand/Business Strategy Presentation Genius:
The Brand Gap: How to Bridge the Distance Between Business Strategy & Design

[slideshare id=326496&doc=brand-gap-1206773635115245-4&w=425]

Future Predictions/Conspiracy-Theory Genius:
Prometeus - The Media Revolution

[youtube=http://www.youtube.com/watch?v=xj8ZadKgdC0]

…And now… I am spent!

Bon nuit, my dear friends.

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