In this week’s edition of New Thinking, that’s the question Gerry McGovern is asking. And it’s a good question. In fact, I’ve been a proponent of getting rid of advertising for two decades now. Without too much success, I might add.
Why? Because people still have a gut reaction about advertising. We all know newspapers and shrinking and that people aren’t reading them at the levels they did even five years ago. We all know that magazines are jettisoning subscribers and pages at an alarming rate. We all know that people are not reading online banner and display ads at anywhere near the levels the salespeople are telling us they are.
And yet, we’re not willing to bite the bullet and tightly target our outreach efforts because somehow we feel like a mass market tactic is better.
According to the Wall Street Journal, the top 10 US marketers reduced spending on traditional media and online display advertising by 4.2% in 2014.” According to AdAge, Nike reduced mass media spending in the U.S. by 40% in 2014.
In a social media-driven, marketing-savvy marketplace, why on earth would you advertise in the same way you did 10, 20 or 50 years ago? Everything else — EVERYTHING ELSE — has changed in that time period. Why do you think your customers are immune?
Slash your advertising and buy yourself a better human to connect to humans on the other side.