Future of Advertising: a platform for Customer Insight
What will the future of advertising look like?
The answer could be the one painted in this viral ad promoting the upcoming FITC digital and technology festival in Toronto. The ad is set in the future and shows a narrator in a deserted office (preserved as a museum) describing the remains of the last advertising agency on earth. An ad agency which ignored the power of digital and social media.
Traditional advertising no longer works. The gap (and break up) between the consumer and the advertiser is growing on a daily basis as shown in this great video.
Businesses should start seeing the web from a business-strategic point of view and understand, find and align their web-strategy with it. Companies should stop producing TV ads or banners without any call-to-action. And starting Twitter streams like “clowns” is definitely not the right way to approach the future of customer communication… says Martin Meyer-Gossner (a web business strategist).
Eric Clemons a year ago has written in TechCrunch Why the Advertising is Failing Over the Internet. Here is an extract of what he wrote:
There are three problems with advertising in any form, whether broadcast or online:
- Consumers do not trust advertising. Dan Ariely has demonstrated that messages attributed to a commercial source have much lower credibility and much lower impact on the perception of product quality than the same message attributed to a rating service. Forrester Research has completed studies that show that advertising and company sponsored blogs are the least-trusted source of information on products and services, while recommendations from friends and online reviews from customers are the highest.
- Consumers do not want to view advertising. Think of watching network TV news and remember that the commercials on all the major networks are as closely synchronized as possible. Why? If network executives believed we all wanted to see the ads they would be staggered, so that users could channel surf to view the ads; ads are synchronized so that users cannot channel surf to avoid the ads.
- And mostly consumers do not need advertising. My own research suggests that consumers behave as if they get much of their information about product offerings from the internet, through independent professional rating sites like dpreview.com or community content rating services like Ratebeer.com or TripAdvisor.
It is time for media owners to innovate – ditch advertising and become a platform.
Your thoughts and comments are welcome.