It seems that advertisers and media buyers simply don't get it yet. Or is it that they are afraid to take risks as the world changes right in front of their eyes while they continue to pump money into television advertising when the viewers either use Tivo to get rid of ads altogether or simply engage in something more exciting like sipping a beer. (Related link: Disturbing trends emerge for advertisers targeting 18-34 males)
Most research points to decline in interest in TV ads among the 18-34 year old men. iProceed has been discussing how advertisers and media buyers can be more forward-looking and start looking at other emerging channels like blogs. So it was encouraging to hear from Nick Denton that "A lot of advertisers want to participate in blogs, but they don't know how." Despite that he points out that even 2.5 million unique advertisers a month don't get the attention media buyers. We wonder in what world do the media buyers live!
Tips for media buyers to educate themselves faster than they currently are
- While you can still bombard "poor" consumers with television advertising, it is almost like sending SPAM or junk mail. None of it is welcome. So start thinking of ways to be less intrusive.
- Consumers no longer look forward to television or newspaper ads to find out what can they buy and where. They do a Google search instead.
- Big media may not go away any time soon but people are increasingly skeptical of big media particularly in the United States (where media is no longer perceived as unbiased).
- As reality television has demonstrated, consumers want more real stuff, and hence, the popularity of blogs. Our research has shown that clickthrough rates on blogs are much higher than those for content on traditional websites. And if the blogger makes a specific recommendation, the CTR is even higher.
- Blogs have another major difference from any other media. Since they give total control to the consumer, s/he does not see her/himself as being the victim of advertisers. S/he looks at the blog reader, picks the blogs that are of interest, reads them, and if the advertisements/endorsements are targeted, visits the store/shops.
- If you still don't have a clue how to advertise on blogs, here is a helpful primer on working with bloggers and getting your products some exposure for literally peanuts.
Recommended article: Traditional advertising in danger: iProceed's 3Es of advertising