Reading through the plethora of business magazines that come through the post, how often do you look at or read the advertisements that accompany the articles and editorial? It would surprise me if the result was more than a few percent.
What are the advertisers that continue to use this medium hoping to achieve? A direct sale is unlikely, are they wishing for brand awareness, if so what is the value of brand awareness in the market place? Has brand loyalty been diluted by the increasing need to search for the cheapest price?
All forms of advertising act as a reinforcing agent, this works especially well for B2C. For example the adverts for Persil washing powder , reinforce the view that using this product allows the user to feel smug and secure that they are doing the best for their family by maintaining their place in the social hierarchy of the middle classes. But does this reinforcement work for B2B?
So if the advertisers are not expecting a sale, are perhaps hoping to add to their brand awareness what else might they expect from traditional advertising? Perhaps they are just saying “I am still here”, is it as simple as that and what is the value or the ROI on this?
“Advertising hasn’t changed, it just has more respect for the results other disciplines can deliver,” says Ray Gillette, president of integrated services for DDB Needham in Chicago. “Historically, brand management managed the advertising. Today brand management looks at strategy first, then media.”
Debbie Stier, SVP, Associate Publisher of Harper Studio posed an interesting question:
Is Advertising Dead? Or is There a Huge Opportunity for Interesting, Innovative, and Entertaining Ads to Emerge?
…it seems to me that advertising as it exists now may be dead, because it doesn’t work, but there is room, and in fact an opportunity, for advertising to become remarkable — to entertain or inform — or as Seth Godin would say, to be a Purple Cow.
If we listen to these comments, one answer could to be to be more innovative and certainly more diverse in the mediums used. Tradition methods of measuring ROI is of course looking at the bottom line, is the business selling more. In new media is there more to consider?
…next time we will examine the use of social media in advertising for businesses. Is this the way forward?
