We can do it better!
OK! I've been inspired by Guy Kawasaki through his blogging at http://blog.guykawasaki.com/. Great insights! Good read! Go take a look at it, especially if you are an entreprenurer and/or business owner.So, here's my first shot:
The last time you watched television, what did you do when an irrelevant or irritating ad started? In the past, we either changed channels or got up to go to the fridge. Today more and more, people are fast forwarding using DVR devices like TiVo. The problem is, the opportunity for the marketer was wasted in many of these cases. I like to watch football, but I find the ads seem to be for lite beer, which I'd much prefer a good stout or amber, and for trucks - which I'm the most unlikely candidate. The money was wasted by the advertiser and I just got fatter because of my return trip to the kitchen. How many political ads have you received by candidates and issues for which you can't vote? I live on a state line and more than half of the political ads are irrelevant to me. Wasted money, wasted time.
"So, just zap the ads", you say. Problem is, the ads pay for the content. If we were to pay the full bill, our cable bill would be way too high for most. We wouldn't enjoy the luxury of 200 channels because of the cost.
Over $280 billion is spent in the U.S. on advertising. There is tremendous unrest in the advertising community. The unrest is caused by lack of accountability and results based on the dollars spent. Advertisers are demanding a better way and consumers are getting impatient with irrelevent ads. The old model is breaking because of the choices and control people now have over their media.
Over the next several posts, I'll deal with some key premises. These are:
- Advertisers are demanding a near-realtime sense of R.O.I. (return on investment)
- Consumers have gained significant control over their media with more choices and control over what they see and when they see it.
- Advertising has a high content value to the consumer when properly targeted.
- Advertising has an entertainment value to consumers when relevant and created in an enticing manner.
- Technology advancements with digital television and mobile phones allow for a two way interactive environment where targeted ads can be effectively delivered.
-Andy
posted by Andy Huckaba @ 7:57 PM
2 Comments:
Very interesting and relevant - I think we're all curious to see this concept evolve into something real as the demand for something like this grows.
Are you doing anything to get your blog out there to make sure people see what you have to say?
Good idea, especially the part about advertising having value to the viewer. The common belief is that all viewers want to avoid ads, but that's only true of ads that are irrelevant to them. Why, some people even pay for catalogs that display products that interest them. The question then becomes, how do you bring product information to persons who have an interest in those products? Not, how do you cram stuff down people's throats.
There are three screens in all of our lives, TV, PC and most recently, cell phones. Broadcast TV is one size fits all and not much can be done about it. There may be some possibility of using the multiple content stream capability that becomes available with HDTV, but that is unexplored. However, over half of the households use cable to receive their TV content and that opens the possibility of targeting. After all, if a pay-per-view movie can be sent to a specific household, why can't product information of interest to that household also be sent? The problem, of course, is knowing which products are of interest.
The second screen, the PC, is actually used to seek information. Since users are accustomed to getting information via this medium, the issue becomes one of how to present it to them WITHOUT them having to look for it.
The third and newest screen is the cell phone. How can this direct connection with a specific individual be exploited? How do persons feel about getting unsolicited messages on their phones, will they regard it as spam and block it? How should the messages be formatted for the tiny screen? How do you know what interests the person or when they might be interested in it?
With the exception of standard broadcast TV, these are largely unexploited areas in marketing where maybe you can break some new ground.
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