About a month ago I read an interesting article on the advertising industry in one of the business magazines. These kinds of pieces really intrigue me as I am always curious to see what so-called traditional folk are saying about our business. When I see commentary in the mainstream publications or press, I attach particular significance to them as they represent the chorus of vocals with a direct line to the senior decision makers in the organizations that ultimately hold the future of new media.
A popular belief in the interactive circles is that the popular dailies and trades have done a lousy job at accurately representing the interactive opportunity and potential thereof. In fact in some cases, the reporting has been borderline neglectful in a capacity that has vilified the Internet second to none.
I may be committing some kind of unspoken cardinal sin by commenting on others’ commentary (I haven’t been part of this society long enough to completely familiarize myself with the secret handshakes, rituals and accepted behavior), however, I’m going to do it all the same.
In this particular case, the article was written about the top five rules (or predictions) in advertising for 2003.
Rule 1: THE TUBE IS STILL KING
The explanation given here is that despite its imperfections, “TV will continue to sell.”
The article remarks on the paradoxical relationship between falling network ratings and rising rates. Two explanations given are tightening inventory based on poor ratings, as well as inventory set aside for makegoods due to aforementioned poor ratings.
The article also echoes and validates several thoughts I’ve touched on recently in previous Jaffe Juices, such as the water cooler challenge, reliance on the status quo (never getting fired for putting television on the plan) and the importance of being able to see one’s advertising (please sir can I see my ads).
The section ends with the bottom line: “Network TV is dead. Long live network TV.”
The Juice: You might be surprised by my reaction, but I actually agree with this prediction, albeit with a few sprinklings of Tabasco for that much needed kick.
The tube is and probably will be king for a long time to come. I said tube though and not network television or 30-second commercials for that matter. I think the television will continue to draw the eyeballs of America; however, the fragmentation between network and cable will be the least of marketers’ worries. Try factoring in interactive television, VOD, TiVo and gaming into the mix, not to mention the split-screen future of hybrid Web and television viewing or the implications arising out of the new networked home environment.
The relationship between waning viewership and increasing rates makes no sense, but then again, nor does so much associated with traditional media methodologies.
Multi-million dollar television campaigns just don’t carry the weight or impact they used to. American families do not crowd around one tube in the living room anymore (they stopped doing that long before the Internet even came about). Rather, they disperse around the multi-tubed home, prolifically multi-tasking on, among other devices, the Web.
Sure TV will continue to sell, but never like it used to. Smart marketers will figure out new ways to leverage the diverse uses of King Tube.
Rule 2: THE NET: NO AD BOOM AT HAND
The explanation lauds the Web as a powerful branding and marketing tool, but not as an advertising medium.
It chastises banners and pop-ups and casts skeptical doubt upon the promise of broadband as a means of much needed salvation.
It affirms the importance of CRM and alludes to some of Kraft’s best practice of utilizing recipes to involve consumers, with the visible payoff of value and utility. It continues to cite the usual suspects of marketing success stories like BMWFilms, gaming tips on the PlayStation site and even Dannon Yoghurt driving traffic to its Website.
The bottom line is that the Internet's day as a marketing medium may arrive, but that this won't translate into substantial ad sales.
The Juice: Even more surprising is that I – partly – agree with this assertion. I don’t believe the revival will come any time soon; however, this is perhaps more influenced by the greater economic and political climate then by any reasons endemic to the internal workings of the Web.
Of course I’m going to validate the contention that the Web holds more promise in the marketing camp than the advertising corner. This is due to two simple reasons: 1) Marketing is bigger than advertising and 2) So much of what we do is bigger than just media (original content, content integration, advergaming, search, e-mail/CRM, sweepstakes, promotions, webisodes…the list continues).
The above statement may hold, however, this does not mean in any way that the Web won’t represent a growing piece of the integrated advertising pie. In this regard, I have to take issue with the reporting, which quite clearly reflects someone not vaguely au fait with the Web as a legitimate medium.
This medium is not all about banners and pop-ups. We all know this, but unfortunately every relative of mine, every consumer of yours and every traditional marketing and media professional perceive this to be true. Sadly, perception is reality in this high-stakes world of marketing.
There are enough examples of breakthrough creative, innovative solutions and unique distributed paid advertising to suggest that we might be eventual masters of this prediction, but only if we stay high-road, continue to create work like you see every week in the iMedia Creative Showcase and appropriately monetize our hard work.
In addition, there is new research that directly addresses the dangers of over reliance on a client’s Website as the online be all and end all. Steven Heyer romanced the entire marketing world with his rendition of how the old model was broken. In his speech, he positioned his brand as the World’s largest media network, capable of dwarfing all the major media outlets combined. And yet, I wonder how much success Coke-TV will ultimately have as a destination (see rule number 1).
Next week, I’ll bring this baby home with rules three through five: SHOW US THE NUMBERS, IS BIGGER REALLY BETTER? and AIMING FOR THE BULLS-EYE.
