More and more the ad industry is shooting themselves in the foot. The latest arrow comes from an article in Adweek “The Future of Advertising Still Rests on the Art of Connecting Brands and Consumers More than ever, it’s about authentic and compelling stories“. Ha? Do you honestly think that consumers have the time to read “brand stories” or believe brand propaganda?
NBC didn’t expect the backlash against Brian Williams but people, via the Internet, attacked Mr Williams “lie” and would not let the matter fade away until NBC was forced to suspend him for 6 months without pay. Mr Williams mistake was making himself more of a story than the news he reported, but if there is one lesson to be learned, it’s that no matter how popular you think you are a lot of people love to bring down brands and people.
Is it any wonder that most executives feel that marketers are disconnected from accountability? All you have to do is read the posts on social media from the ad industry megaphones like Ad Age and Adweek to see how the industry is patting themselves on the back for ads that ran during the Superbowl while not talking about the objective of advertising to actually sell the product.
There is some lopsided thinking out there. There is a “belief” that just because a consumer becomes a customer of your brand that they want to have a relationship with you that extends beyond the 4 P’s. For a lot of brands this just isn’t true. Just because I like pudding doesn’t mean that I want to have a relationship with you on Facebook.
Augie Ray says “The secret to social media success (and failure) is no longer secret. Companies need to stop talking and start listening. They need to stop broadcasting and start responding. They need to stop posting to people and instead encourage people to start talking with each other. They need to stop promoting new products in social media and instead use social to collaborate when developing new products. They need to stop publishing content they hope people will share and instead give people product experiences consumers actually want to share. They need to stop trying to be entertaining in social media and instead offer great customer care in the channel. They need to stop counting fans and tallying engagement and start creating advocates and measuring business value. And finally, brands need to stop positioning themselves as more caring, more transparent and more committed to the customer and instead be more caring, more transparent and more committed to the customer.” The end of social media marketing?
Less than half (40%) of the businesses surveyed by Harris Poll for Hootsuite’s Social Business Benchmark report said they used data gained from social media to improve their bottom line. 60% agreed that it was a challenge to find the actionable use of the data collected.
Over half (55%) of consumers are put off buying products or services if they see the same ad online multiple times, according to a study by InSkin Media and RAPP Media that surveyed over 1,600 people aged 20 to 60. Only 10% of consumers are more likely to buy something after seeing the same ad served repeatedly because of their previous web surfing behavior (known as retargeting).