Less is more….and why the market needs a Refinition
AND BETTER TOO……
Less is not only more, it’s less expensive and better too. With response rates and effectiveness falling across direct, digital, mobile and broadcast media to levels below rounding errors, it’s time to address the 800 LB gorilla in the room. 99% of all media buys are either wrong or irrelevant as it pertains to actual people buying real things. Somewhere in the piles of impressions that get purchased 24/7/365, there must be some that work significantly better than others. It’s time to find the haystacks of just needles and spend less, sell more and repeat often. That requires real data.
CONTENT VS CONFIDENTIALITY
We all love to have free content, sticky apps, utility data of every type at our finger tips, 2-way communications on a multitude of media platforms, powered by cell phones with 90’s era mainframe power and we wonder why data about our whereabouts and data is more readily available than we like. We love cheap access and smartphones along with the plethora of services and content available…ever think about what subsidizes that eco-system? Advertising and data. The question really isn’t whether we want this data used of not, but whether we are in exchange willing to pay for the things than are free and subsidized today. Now that we have determined out unwillingness to pay for what is already pretty free, what are we to think?
CONTEXT VS CLUTTER
Is it creepy to get an ad after visiting a website? Is it really any creepier if that ad was sent after visiting that specific location? In today’s day and age, is this really much of a surprise that this happens? What is more shocking is that it doesn’t happen all the time and that the ads served to us are very often for goods/services/products/things we don’t need or want and wonder why it is aimed at us. Wouldn’t we all want to see the things that we really are interested in vs the noise and clutter of that that baffles the mind. What could possibly enable this? The better use of the 3rd party data we leave behind. Isn’t time to get rid of the YAHOO! and AOL email accounts that exist to just collect our spam?
CONVENIENCE VS CREEPINESS
Imagine for a moment that after shopping for a car, there was a nice follow up offer on your digital devices from the dealer or at your home a couple of days after your visit. What if other competitors were alerted that you were actively interested in a new car and sent along some other choices to consider? The only difference here is that your visit vs your click triggered the offers. For many, this is a convenient way for the market to know you are ready and for you to know what the market has to offer. Should you no longer be in the market or want to opt out, it is very easy to do. Either creepiness or convenience are free and are placed in our control. Showing up outweighs a click, is it better to get the ad after you already bought the car?
AD AGENCIES WILL EVOLVE OR BE REPLACED BY DATA DRIVEN MARKETERS
Fewer may not be better, but it will be a reality, it has happened in other industries. Ad agencies budgets and staffs will shrink as it pertains to media, target audiences will get smaller, the number of ads will get smaller and the players that deliver them will continue to be those that master making media smaller and more personal on a mass 1:1 basis, profitably for them and the client. The biggest brands in the largest spending categories used data to take marketing functions in-house and the largest management consulting firms have become the leaders in digital marketing services. The change is happening, we want to work with those that understand the power and sensitivity of data driven marketing.
THE RIGHT DATA OF INTENT VS BIG DATA
Why go big when everything you need is available in smaller media packages. Why annoy people that don’t care about what you are offering? Why extrapolate when you can actually pick the right targets? Small scales! What drives this? DATA! If we get the gift of free and financed content, apps, services and connectivity, and we can always opt out when we want, then the impact of small and targeted could really be beneficial vs overwhelmed and misguided. Not all use of data is bad, it is the deal we have already made.