It’s not just Internet Advertising that is Failing – the World has Fundamentally Changed

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Why Advertising Is Failing On The Internet – by Eric Clemons on March 22, 2009

Couldn’t agree more Eric. This is my theory.

Advertising is the creation of the 20th century Mass economy – Mass Production – Mass Media – Mass Marketing.

In this economy:

  1. Content was scarce
  2. Distribution was controlled
  3. Consumer attention was abundant

Advertising works great in this economy because consumers lacked choice.

Flash forward to the 21st century where the Mass economy doesn’t exist any more. It’s more like the fragmentation or social economy.

In this economy:

  1. Content is abundant and free
  2. Distribution is totally open
  3. Consumer attention is scarce (severely overloaded)
  4. Social engagement is the new Content

Advertising doesn’t work in this economy because consumers have limitless choice. Who’s going to choose advertising? Give a user a TiVo and what do they do? Consumers are also spending proportionally more time (attention) in social engagement rather than content consumption.

Eric is right we need to start exploring some new models. I think those models will be based on consumer intent, social influence and community engagement.

We’ve written extensively about this is years past.

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Obscenities on Facebook Brand Page Status Comments – YIKES

Apparently their is no obscenity filter on the new Facebook Page Status feature. Users can post profanity that hits both the Page and the Fan’s Newsfeeds.

We were testing this out today with Microsoft. We sent out a link to a “win and Xbox promotion” and look what came back.

Here’s the page:
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Here’s the Fan Newsfeed.

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Don’t think companies or brands will be too happy with this. Imagine trying to manually moderate comments made to every status update.

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5th Annual Jon Henderson Beating Cancer Benefit

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The New Facebook LOOK

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Ok, who really thinks this looks better?

Give us back the old look… pretty please!

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Lijit Closes $7.1 Million Series C Round

Lijit Closes $7.1 Million Series C Round – Readies Advertising Network – ReadWriteWeb

Written by Frederic Lardinois / August 12, 2008 11:13 AM / 1 Comments

lijit_logo.jpgLijit, which provides search services to bloggers and blog networks, announced today that it has closed a $7.1 Million series C round led by Foundry Group. Lijit had raised a small Series A round in January of 2007 and a larger $3.3 million Series B in July 2007. With this new round, Lijit is planning to use this new influx of money to finance the launch of its search-powered ad network.

Congrats to Todd Vernon and all our friends at Lijit!

Where’s the party? :-)

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Want to get up to speed on Social Media

Going Offline: 5 Books on Corporate Social Media

Groundswell

Here Comes Everybody

Web Analytics: An Hour a Day

The New Influencers

The Art of Strategic Listening

and one more….

Marketing to the Social Web

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Media is actually a triathlon – consume, produce, share – My TV has no Mouse

Gin, Television, and Social Surplus

This is something that people in the media world don’t understand. Media in the 20th century was run as a single race–consumption. How much can we produce? How much can you consume? Can we produce more and you’ll consume more? And the answer to that question has generally been yes. But media is actually a triathlon, it ‘s three different events. People like to consume, but they also like to produce, and they like to share.

Although experiencing this via a liner video is somewhat ironic, you must stop what you’re doing right now and watch this video.

From now on, that’s what I’m going to tell them: We’re looking for the mouse. We’re going to look at every place that a reader or a listener or a viewer or a user has been locked out, has been served up passive or a fixed or a canned experience, and ask ourselves, “If we carve out a little bit of the cognitive surplus and deploy it here, could we make a good thing happen?” And I’m betting the answer is yes.

Wow, I’ve been writing about consumer attention scarcity up here the past few years. Clay talks about this concept of cognitive surplus which at the end of the day is reallocated attention from pure consumption to a consume, produce, and share model.

Just like in the Matrix where there is no spoon, in the mass media matrix there is no mouse.

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Social Feed Overloaded

Stream Overload

Dude, I’m plugged into all my lifestreams. ;-)

Help!

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Now that’s Targeting! How did they know?

Twitterific

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Authentic Influence

This is the new New Media… Social Media = Authentic Social Engagement = Authentic Influence.

Marketers and brands wanna market here? Well Advertising campaigns need to shift to Socializing campaigns. Advertising Agencies need to evolve to Socializing Agencies. Marketing mix needs to shift from content sponsored broadcast channels to implicit/ explicit social streams. Time with media has already shifted for 70 million Gen Yers. Billions of marking dollars will follow this behavioral shift over the next 10 years. We’ve seen this shift happen before!

Here’s where we’re heading…..

Sweet!

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