Advertising is bailing…
August 23, 2008 by Colleen Coplick
Filed under Social Media
Wow. Advertising is taking a huge nose dive. The future is Word of Mouth, (a la blogs) “web 2.0” (again, blogs, twitter, plurk, friendfeed etc) and other online properties.
So it is any surprise that the ANA is saying that they anticipate ad budgets to be cut? Yeah, not really. Add that to the Pew survey that people get the majority of their news online vs tv or radio, and basically, it looks like traditional media channels are screwed.
This just looked at advertising however. Having just spent a full evening catching up on movies and tv shows I’ve recorded, I don’t think traditional media channels are going away. I do think that advertising is going to have to change significantly however.
For sure. As a marketing consultant, I’ve never really understood why people thought paid advertising was effective in too many cases. There are right and wrong ways, and most advertisers do it wrong. Now of course they’re actually measuring ROI and finding it lacking–so either they have to learn the right way to advertise or do something else with their marketing dollars. I talk about this in my marketing books, especially Grassroots Marketing: Getting Noticed in a Noisy World.