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The End of Advertising: What Will It Mean for You? A new study from IBM forecasts mind-bending changes for the ad world. "The next 5 years will hold more change for the advertising industry than the previous 50 did," the study proclaims.The question is, what do you plan to do about it? How will you reach your customers in the future? Attention: Consumers are gaining control of, interacting with and filtering out ads as viewing fragments into many channels. The democratization of creativity: Through user-generated content and peer-sharing sites such as Facebook and YouTube, amateurs and semi-pros are creating their own ads. This can make it more difficult for brands to control their image, but stimulates audience creativity and can build increased brand loyalty from participants. Results pressure: With the growth of pay-per-click, advertising is becoming highly measurable and results-oriented. The days of touchy-feely branding ads where the impact was hard to assess are ending. Traditional media are under pressure to demonstrate the usefulness of advertising in their format. Advertising in bulk: The rise of ad networks (I get 193 million Google responses on the phrase "advertising network") means ads will be bought and sold in bulk. More than half the ad pros polled said they expect 30 percent of ads to flow through ad networks within five years. Where's it all going? The study says two disruptive variables will dictate the outcome: the growth of consumers' control over the marketing they see, and the growth of ad-inventory systems. The faster these two changes progress, the bigger change we'll see. Their advice? "Plan for multiple consumer futures, craft agile strategies and build new capabilities before advertising as we know it disappears." Small business translation? Time to be creative. There are some forward-thinking ad strategies that aren't expensive. Think about crowdsourcing an ad campaign, for instance, maybe by holding a contest, as Doritos famously did with the Superbowl. Think local event sponsorships -- it's hard to block out an ad while you're standing at the local ballgame or parade. In general, answer this: How are you going to make consumers really look at your ad, when so much else is competing for their attention? Make it fun. And find the place where you can stand out from the crowd. What's your future ad strategy, and why? Leave us links or mentions of creative ad campaigns you've liked recently.
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I think the future of marketing is connecting with your customers. Social media is a huge part of it. The secret is understanding how to reach your target customers and what message they will react to. Doing swag bags with product samples are community events, throwing events or classes at your brick and mortor locations, and knowing who your top 20 customer are and giving them a special gifts to show them how much you appreciat their business. Providing value and interesting information is the best route. You have to look at the lifetime value of the customer, not just the impact of the incremental sale that month or day. If you do your advertising with the thought of dollar signs and not the customer, they will see right through you.
Mobile Marketing and companies like Txtwire are offering companies the ability to connect with their customer directly. Similar to twitter but with more reporting and control. www.txtwire.com
Is this report really new? At the end of the report it says "2007".
Thnx.
- K.
The traditional ways of advertising are quickly fading. Business' need to be agile and adpat to the ever changning land scape. Twitter may just be a flash in the pan or a spammers paradise, but it is working for some business. We use Twitter with an external app called Tweet Whistle to promote our site and have gotten good results so far. The tool is more than just a friend adder, you can launch a virtual marketing campaign from your desk top. You can download a free demo. Get more info at http://friendaddertools.com
Keep in mind that marketing on the internet is different from marketing in real world in many aspects....in a recent film, some young entrepreneurs share their business strategies and ideas.''The YES Movie''
www.theYESmovie.comby Louis Lautman