Is the advertising industry totally off it's rocker?" This provocation 👇 from Eric has kept on re-surfacing in my mind. (TL:DR - what the **** is going on when so much advertising is failing to deliver and yet the industry is acting like everything's rosy?) Part of me feels like it's just the law of the jungle. Most football teams will never win a title. Most food is average. Most gains are marginal. So yeah, most advertising is poor. ...but I think that dismisses the issue too easily: 1/3rd of the world use ad blockers. The biggest televisual channel in the world is run by a guy called Jimmy who makes videos featuring himself. We carry around more computer power in our pockets than it took to put a man on the moon. The world customer's are living in is changing and I'm not sure that the business world - or at least the advertising part of it - has kept up. I think in the end it gives me a lot of confidence; if you know what you're doing then the opportunity is massive. If you know how to: Find real customer insight Build a simple strategy around it Power it with creativity Get it in front of enough people Land messages in the right ways... ...then you can build killer brands that power businesses. Glass half full? Maybe, but I'm built to roll in that direction. Onwards.
Co-Founder & CEO of Rival, ex CMO of 11:FS and MD of VaynerMedia - helping challengers grow
Sometimes I feel like the ad industry is all one big joke that everyone else is in on… 41% of ad spending is wasted 75% of brands could disappear tomorrow and nobody would care. 89% of advertising goes unnoticed And yet, for the most part, everyone’s walking around like everything is fine? Sure, it makes the headlines every once in a while. And I know there are some brands, agencies, and vendors pushing to solve these problems (or saying they are). But how is this not a “HOLY SHIT THE HOUSE IS ON FIRE” situation? If any other industry woke up one day and realized that most of what they did DID NOT WORK AT ALL, I just can’t imagine people would put up with it. What am I missing? Or am I just not in on the joke?
Growth & Commercialization Strategy. Consulting CCO/CMO/CRO/CGO. Champagne aficionado
2moThen why are company executives still funding it? And the answer to that question is an interesting one