Thursday, October 6, 2011

Advertising in the 20th Century

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Since we are now following a Google Panda friendly SEO strategy we are  spending time troweling the internet for advertising topics.  The problem with the internet being so large is the number of contradictory articles.

The first one was doom and gloom discussing how advertising is dead and how a powerful group of ad execs were simply terrified of failing.  Whilst its true that certain media is less effective, other media has grown.

Another article discussed the merits of progressive advertising in a booming industry.

Success in any industry depends on consumer behaviour.  Clearly the reason for a demise in the more traditional marketing techniques such as printed media and TV is on the decrease because consumers have changed how they spend their time.  Newspapers no longer have the readership they used to.  Many of us now access the news via the internet which is kept up to date on a more regular basis.  Similarly entertainment has changed in more than one respect.  The internet provides a wealth of entertaining with gaming, socila networking and TV and film streaming.  Digital techniques now employed by Sky & Virgin means that it is no longer a requirement to sit through the commercial break when and if we watch TV.  Many of us record and playback our chosen channels fast forwarding through the ad break.

Advertisers have simply transferred much of their methods to where their targeted market is.  Consequently anyone still advertising on old media is getting it at bargain prices to compensate for the loss of  a captive audience.  Providing the advertising agents are progressive and are up to date with consumer behaviour then they can exist and grow.


Obviously corporate budgets are not the same in the current economy however the internet market can be specifically targeted to the consumer making it a more viable solution.   There is a wealth of data available for businesses wishing to take advantage of internet marketing.  We can, with some degree of accuracy check the popularity of the website as well as the demographic.  Alexa is often used as a marker for website publishing prices.

There are exceptions to this.  Facebook for example does provide affordable advertising space but they have a poor click through rate.  However of those who do click through the conversion rate is very high.

Every industry needs to view and adapt according to their market.  The high street was one of the first to suffer with the advent of ecommerce.  Independent retailers in particular had to adapt and change to make up for a lack of sales.  Savvy customers frequently window shop prior to an online purchase where heavy discounts can exist in a market with fewer overheads.

Even traditional industries such as the food industry demands evolution.  Restaurateurs have to be prepared to work with ingredients that they probably never heard of when they attended catering college.

Technology sectors lead rather than go with a changing market.

The writing was on the wall for failing ad agencies, many of whom did not read the signs.  To be controversial I think that they have had it easy in terms of relying on historic performance and being too lazy to implement the changes required in a ruthless industry which will leave them behind!

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