It’s not that I’m not interested in being advertised to, it’s that the ads I do see are not for me because the product or service isn’t for me and the ad is usually annoying. After years of this, I’ve slowly built up my many barriers and even changed my behaviors to avoid ads; I do not even follow any sports.
I would be fine with seeing more commercials if I was actively interested (and it wasn’t an obnoxious presentation).
I came across this study performed last year by researchers from the London School of Business and MIT’s Sloan School [my safety choice] that painstakingly proves and articulates what many of us might have already suspected: when buyers are in an early consideration stage, ads with general product info and/or ads about brands are effective; and, when the buyer moves to an active evaluation stage, ads containing more specific features and benefits are effective. If the timing of these ads is off or transposed (i.e., detailed ads at early consideration stage, and broad ads at a late stage), they fail.
My questions are:
1. Facebook will continue to evolve into a more and more effective advertising platform and will become more effective at knowing when you’re interested in a product/service so that it then delivers a right related ad to you. But could it ever get the timing right?; could it know where you are in the buying process in order to deliver the right type of ad at the right time?
2. If companies and websites could work together by sharing information about you in order to know what you want and when you want it, would it be a win-win situation??
3. What other organizations could be in a position to deliver the right ads at the right time? Can any one organization do this without partnering with others?
Kurt,
ReplyDeleteGreat article and interesting to think about. It is much easier to target consumers at various stages because you can keep track of when they come back to a site and also track how long they stay and what pages they look at. Much more difficult in an off-line environment when no one is paying attention in a store, for instance, to our visit as we investigate a product we want to purchase.
Regarding Q3, I can already see partnerships with others, as I was recently looking at watches on Nordstrom.com and then went to sign up to supply a meal for a neighbor at mealtrain.com and on the side was an ad for watches at nordstrom.com--the same ones I had been looking at.
ReplyDeleteBased on this article, timing and effectiveness of digital marketing depends on how well the firm and the online marketing agency can predict consumer's decision-making stage to determine and tailor more personalized online ad content.
ReplyDeleteCollecting, analyzing and evaluating consumer’s browsing behavior; whether is done by the brand or the advertising agency; will be essential and valuable, as it will be to share it.
1. Knowing what customers are really interested is the key for online ads. For example, if FB knows that I love to play ping pong, then I may click on those ads to see any new products or sales. But for those who are not interested in, it may become annoy.
ReplyDelete2. It will be a win-win solution if they can know what you really want. But the challenge is how they can read your mind.
3. The traditional way to gain customers is to spend time with your customers and find out what they want. Social media provides a new way to reach your potential customers. But the challenge is how to put relevant ads for the right customers rather than annoy them.
I wonder if a business couldn't be created where consumers register their interest, along with some parameters, in purchasing a product or service then have suppliers bid on it....like a consumer rfp site.
ReplyDeleteEssentially all the rfp responses could be considered ads. Then so as not to attempt to burden advertisers with the potentially daunting task of attempting 1:1 ad to consumer ratio; other consumers could read the ads and accept the offer too.
This idea would really improve the timing and targeting problems that vex advertisers.