This is what I think.
Technology has sent Mass Media advertising into retirement. I know that the former is a strong statement but evidence seems to support this provocative thesis. How many of you watch TV ads? Or Radio/newspaper advertising? I don’t know about the former but I do know that you rarely look at page 49 of the Sports Illustrated Magazine looking for an ad. Am I wrong?
By the way, when was the last time that you bought a product from a new company that advertised on television? I ask this question because some people may say, “Well Luis, what you are saying is true but I still enjoy watching a Coca Cola commercial during the Super Bowl and buy Coca Cola products.” You may be a rare case. It is possible but it’s just not likely.
Please realize that if you do watch Coca Cola TV ads and buy Coca Cola products thinking that you bought them because of a recent ad, you may be fooling yourself. Coca Cola is an established brand that grew during the industrial age where Mass Media advertising was the norm for growing a brand and selling products.
Coca Cola is now benefiting from investments in advertising they made 70 years ago. That’s why some of you still buy Coca Cola products. Have you ever heard about ALO? Even better… When was the last time you bought an ALO drink? It’s a new product. They have advertised (not like other major drink companies but they did) and I bet that most of your never bought one of their products.
Reality: Modern technology has changed the advertisement industry. DVR enables people to pass through the ads in both cable television and on streaming TV services like Netflix and Hulu. In this abundant world we live in, who wants to add more interruption to our lives? I don’t. How about you?
Do you watch the youtube ads before watching your favorite youtube video? Or do you stop them after 5 seconds of mandatory “watch” time? Mass Media advertising is an old concept that is expensive and time consuming. I’m not sure if the ROI is there anymore.
Do we still need advertisement? Yep.
However, the kind of advertising I believe in is done through meaningful conversations by conversing one-on-one with a prospect and individualizing the message. It is inefficient and time consuming but if done with enough frequency can help a prospect to move from a person who doesn’t trust you (or your brand) to one who might give you a try if you prove to them that you are for real.
Trust is key in this new individualized advertising process.
Forget Mass Media advertising. The former is a dated concept that is de facto very expensive and brings little return on investment, especially for a new company wanting to gather market share. Invest your time in personalizing your advertising message and positioning yourself to attract a small segment of the population who loves what you produce. Do what you can earn their trust, overtime. Repeat.
If you have a big budget, consider sponsoring a movie on Hulu instead of spending millions on Mass Media advertisements that people just won’t watch. You may be better off this way.