Thursday, 27 March 2014

Have you tuned out to advertising as well?

In this blog I have written about changes and restructuring of the way business is being done globally. Nearly every industry is being challenged in some way.

I believe advertising is no different and think that people are tuning out to traditional forms of advertising no matter what channel is delivering it. It is literally overwhelming how much our senses get assaulted by advertising these days as corporations try to be heard more loudly than their competitors.

The internet has changed the landscape. Once the power in any sales transaction rested mainly with the seller. Now the pendulum has swung and with the help of the internet and smartphones the buyer now has the power to immediately price check globally and verify facts to see which companies are telling them the truth. 

This YouTube clip illustrates perfectly why we are tuning out to traditional advertising.



Authenticity, transparency and a fair price is what earns a buyers trust, attention and spend. By the way, you don't sell anything unless there is a transfer of trust!

I also believe there is a change in consciousness of buyers and what corporate messaging and advertising they choose to listen too. And YES...this is increasingly a CHOICE and therefore further undermines the power of advertisers and big corporate. Social media is impacting this massively where customers CHOOSE to follow certain companies and brands online. Word of mouth is everything and today word of mouth is mostly online.

Even a tiny one person start company can be heard above big corporate advertising campaigns these days and frequently smaller businesses are immediately trusted more. Particularly by the Millennials who live on social media and forums for nearly all their needs.

So how can big corporate keep our attention? 

I think they need to get fair dinkum about embracing social entrepreneurial-ism and work out how they can make a difference to our community and planet. +Pepsi  is one big corporate who has done a great job of this with their Pepsi Refresh Project. In essence they diverted $20m in marketing spend toward ideas that could have a positive impact on the community. 

This not only did a lot of good, but the publicity, trust and advocacy this earned them far outstripped the return on investment they would have otherwise received through spending this money directly on more advertising noise.

All for now,

+Brad Skelton