7 decades of successful advertising has relied on this advertising model
It seems that the entire advertising ecosphere has become infected with the cheaper/better virus.
Startups think that agile marketing can introduce their idea/App/product exclusively through social media. Thinking that social media can be scaled and user comments controlled to reach and influence the intended target audience with enough impressions to influence the next round of investor backing is naive.
Small to mid-sized brands relying on Google Ad Words are settling for 1 percent click through conversion rates while the cost for keywords are increasing and quality scores are decreasing due to the integration of new web technologies.
Ad Tech platforms backed by investor money and their relentless PR machines want to convince us that behavioral profiling combined with the many forms of online advertising is the new holy grail for advertising accountability and efficiency. Not to mention, digital advertising is ripe with click fraud, fake websites and non-human viewers.
So what’s the answer?
Return to the advertising model with decades of proven results. Advertising’s main mission is to influence purchasing behavior. This is true for both B-to-B and B-to-C brands. What the digital world provides is new delivery channels and mechanisms that count completed transactions. Depending on where you reside in the product sphere — startups to established brands — certain digital platforms can be used at specific junctions to achieve the desired business result. However, we still live in a Pay-to-Play world.
Successful brands have relied on the following advertising model with recent contributions from digital channels and platforms to increase market share and sales:
Interest – I’ve heard of, read about, seen a video or, through some media channel, was exposed to the service/product offering.
Awareness – I’ve been exposed to the advertising messages enough times to remember the product, its brand promise, and how it may solve a problem I’m currently experiencing or may improve my life.
Trial – I’m reading customer reviews, researching this product and its competitors, and want a tactile experience with the product.
Purchase – The product/service satisfies a need I have, makes my life better, saves me time, and fulfills an aspirational goal.
Adoption – How did I ever live without this? I’m a better person for it.
Advocacy – I’m telling all my friends about how this product/service changed my life.
In the age of digital disruption, perhaps it’s prudent to review this tried and true advertising model and look at the process that influenced purchasing behavior and helped to build enduring brands.