Review of Watch This, Listen Up, Click HerePresentation Transcript
Watch This, Listen Up, Click Here Inside the $300 Billion Dollar Business Behind the Media You Constantly Consume Written by David Verklin and Bernice Kanner Ronald Ruslim – MKTG 6900 A – Fall 2009
Advertising exists to influence buyers views and does this by affecting what is seen on television, heard on radio and read in print and online. With the saturation of current advertising methods in existing mediums, the public is forcing advertisers to tailor their messages to suit consumers which have lead to new and innovative ways of advertising.
Traditional media and its business models have been ‘compromised’ by the invention of other media devices which give greater control to the viewer.
Digital Video Recorders (DVRs) allow users to record the content they want and to skip commercials
Summary – Key Points (Continued)
Marketing and advertising are combating changes to the media landscape, utilizing new and innovative ways to put their products and services in front of buyers.
Product Placement – In shows and movies to counter DVRs
“ Why Oprah Gave Away Pontiacs” chapter discusses how GM used a 276 car giveaway to spark $20 million worth of awareness and created emotional connection
Technology has allowed for a greater ability to ‘narrowcast’ their message which is more applicable as the ‘medium’ carrying the message becomes more interactive.
Brand Immersion - America’s Army created video game and used it as a recruitment tool
Summary – Key Points (Continued)
Technology will play a large role in not only delivering advertisements but also evolving it
Technologies will allow for greater profiling of individuals which in turn allow advertising to become more efficient
Advertising is moving from one advertisement for many people to one-to-one
Consumers will have much more control of the media they consume
Efficiency in industry will come from advertisements only being shown to people interested
Move towards “intent-based” marketing, where a marketer can target intent of consumers based on past behaviours (where consumer data, consumer intent and advertising meet)
Written by credible people:
David Verklin – Chief Executive of the largest independent media buying operation in the world, Carat ($5.5 Billion in annual billings)
Bernice Kanner – Marketing expert and author of weekly “On Madison Avenue” column for New York Magazine for 13 years
Book is divided into 3 sections:
The Lay of Medialand
Discusses the current state of traditional media and its struggle to remain relevant
A Whole New Ball Game
Discusses how companies are adapting and innovating in the new landscape
Discusses where advertising industry is going
Book gives a in-depth look at how the media industry works, demonstrates how traditional advertising is becoming obsolete, and the new ways advertising is connecting and influencing consumers.
The “Tomorrow” chapter is only 12 pages long – Could have gone into more examples of experimental advertising done at that time (2007).
The book gives an in-depth look at how the advertising industry works using specific examples, facts and figures which reinforce observations about this evolving industry.
Social Media Takeaways
Overall: Book shows how advertising business is affected by social media and how it is utilizing or combating it
“ Why Wikipedia Ticks Off the Other Media”
Discusses how ordinary people contribute and maintain this online encyclopedia
Model spills into other areas (CNN iReport)
“ Why You Won’t Have a Clue That GM is Behind That Blog”
Businesses are combating this by paying users (or doing themselves) to write about supporting product – known as Stealth Marketing
Keller Fay Group found that positive mentions outnumber negative six to one
Social Media Takeaways - Example
Online Community Scenario
Online communities – People who share a common interest and creates a network that discusses that interest
Shill – Person who pretends no association to seller / group and endorses it
Connector – People in a community who knows large number of people
P&G has sometimes recruited people from online communities to talk about a brand. They are rewarded with products: samples, coupons, etc. P&G has come under scrutiny for having connectors not reveal they are shills. (Consumer Alert wants FTC to regulate WOM advertising)
“ Marketers who believe that, and media that continue to treat (consumers) as eaters, watchers, players, and viewers instead of producers, distributors, and even marketers, are toast.”