03/03: Advertising 2.0
I came across a great whitepaper today entitled Advertising 2.0 that discusses the impact of emerging mobile and web consumer communities on brands. Advertising 2.0 of course is a pun on Web 2.0, the label given to a group of technologies that facilitate social connections and exchange rather than the one-way 'top-down' publishing model of Web 1.0.
For those that don't have time to read the whitepaper I would like to paraphrase only one paragraph that neatly summarises its main thrust:
"Advertising has long been based partially on something called information-asymmetry. The company knows more than the consumer, and uses this information to seduce a target group...... but information asymmetries have been wounded by today’s connecting technologies.In fact, one might say that hyper connected individuals are less likely to be influenced by advertising. Also, hyper connectivity leaves no room for mistakes, nor does it allow advertising to lie or to omit the truth. Therefore, advertising will need to adapt and learn to communicate with consumers in a fair, transparent way. Consumers now have access to information they didn’t have access to before, and they will use it to judge advertising campaigns, and invalidate them whenever possible."
We know that brand performance relies on solid business basics, a great brand experience, clear positioning, and leadership in its competitive set. Get these right and the hyper connected communities Paul points to should discuss your brand positively and spread that magic word-of-mouth dust all over the web. But sometimes you don't get all of these factors right or uncontrollable external influences conspire to weaken your brands market share. This is where advertising plays its role. Research since the early 1970's has shown consistently that the strongest, most effective ads are those that deliver strong persuasive news with a big impactful creative that elicits what Millward Brown calls 'brand memorability'. I realise that today the best way to do this remains the 30-second TV spot, and all of the research points to this. But as Paul has eloquently demonstrated brands will need to learn how to influence consumers emotionally in a micro-fragmented media landscape - leave it too late and your competitors may own the hearts and minds of the thousands of micro consumer segments that will flourish in the fast approaching media democracy of Web 2.0.
For those that don't have time to read the whitepaper I would like to paraphrase only one paragraph that neatly summarises its main thrust:
"Advertising has long been based partially on something called information-asymmetry. The company knows more than the consumer, and uses this information to seduce a target group...... but information asymmetries have been wounded by today’s connecting technologies.In fact, one might say that hyper connected individuals are less likely to be influenced by advertising. Also, hyper connectivity leaves no room for mistakes, nor does it allow advertising to lie or to omit the truth. Therefore, advertising will need to adapt and learn to communicate with consumers in a fair, transparent way. Consumers now have access to information they didn’t have access to before, and they will use it to judge advertising campaigns, and invalidate them whenever possible."
We know that brand performance relies on solid business basics, a great brand experience, clear positioning, and leadership in its competitive set. Get these right and the hyper connected communities Paul points to should discuss your brand positively and spread that magic word-of-mouth dust all over the web. But sometimes you don't get all of these factors right or uncontrollable external influences conspire to weaken your brands market share. This is where advertising plays its role. Research since the early 1970's has shown consistently that the strongest, most effective ads are those that deliver strong persuasive news with a big impactful creative that elicits what Millward Brown calls 'brand memorability'. I realise that today the best way to do this remains the 30-second TV spot, and all of the research points to this. But as Paul has eloquently demonstrated brands will need to learn how to influence consumers emotionally in a micro-fragmented media landscape - leave it too late and your competitors may own the hearts and minds of the thousands of micro consumer segments that will flourish in the fast approaching media democracy of Web 2.0.
