Herbert Alexander Simon was a Jewish-American researcher in psychology, economics and management, and a philosophy of science at Carnegie Mellon University . He anticipated the direction that we are facing these days:
“A wealth of Information would create a poverty of attention”
More and more companies and people I work with , determine that their advertising is ineffective. “It doesn’t work anymore” — they say. Which brought them results until two years ago, no longer delivers. It doesn’t matter how much money they spend . It doesn’t matter what platform they focus on. It doesn’t matter which professionals they work with. They just can’t get the expected response from potential customers.
This trend bothers quite a few companies and businesses but shouldn’t really surprise anyone — more and more people aren’t consuming linear TV and not listening to linear radio, a lot of digital people are using ad blockers, people don’t buy newspapers .
Customers level of attention to commercial messages is very low.
Some people in the Industry argue that most businesses based on advertising will have to change there business model — companies whose entire business is based on traditional and or digital advertising will be changed or disappear .
In my opinion, the more logical direction for those involved in advertising is to invest in a content-based marketing and a community-based marketing. There are some good examples for such change .
One way or another, you have to take into consideration that paid advertising will be more expensive and less efficient :
- More competition forcampaigns. Facebook has had more than 10 million active advertisers in the past year — compared to 7 million the previous year. a nice growth that points to strong demand and, of course, rising prices alongside a decline in consumer attention.
- Changes in social media targeting efficiency and rules put the field of personalized advertising at risk, which means reduced efficiency for each campaign, which will require advertisers to invest much more to get less.
What needs to be done?
- Investing in professional magazines , niche social platforms and existing customers and those of whom you have data.
- Omnichannel
The pursuit of new customers will be more difficult, so it’s worth preparing with maximum presence on as many platforms and channels as possible.
3.Community-based marketing
Spend money and energy on communities and social groups for the ecommerce industry. A community-based marketing is the best way for your ecommerce to get the needed attention from customers and potential partners.
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