Engage! – What is the point of advertising?
Facebook’s recent IPO launch has had what Zeitgeist would describe kindly as a bumpy ride. There are multiple reasons for this, not least of which is the question of monetising mobile users of the platform – all 450m of them.
More broadly, another debate has been ongoing as to just what brands are getting out of having a presence on Zuckerberg’s walled garden. A great article on WARC points out, after much quantitative analysis of how people ‘engage’ with fan pages, and what the ‘People talking about this’ metric actually means,
“At the very core of the social media mantra is the premise that brands need to engage their customers in order to grow but there is only a tenuous link between the effects of engagement and subsequent sales. Even if these top 200 brands achieved ten times their current level of engagement, what that ultimately means for the brand is uncertain. The push for engagement fails to explain what return, in real terms, a brand achieves by having highly engaging ads, on highly engaging vehicles or media.”
Rather more worryingly for the advertising industry as a whole, the article also notes,
“[I]f advertising simply works by reminding people of the brand, leading to it “coming to mind, being familiar, safe, and satisficing (that is, being ‘good enough’)” (Ehrenberg et al, 2002), there may be little gain in doing anything more than reminding them of the brand. When focusing on achieving high levels of engagement we should question whether we are still trying to persuade consumers, even if our view of how advertising works is no longer aligned with this aim.”
With this uncomfortable diagnosis in mind, does this mean the likes of Nike and Louis Vuitton should be throwing in the towel with their wonderfully engaging, award-winning campaigns? If advertising’s only point to consumers is to act as a reminder, rather than to overtly influence, what are we wasting our time on?
What is Zeitgeist and stuff?
- @Variety charts how being nominated for best pic drives P2P filesharing. Drops again if they don't win on the night http://t.co/ID0bu84aEX 2 days ago
- "Blockbusterism often seems less like a strategy and more like a tendency" nyr.kr/1aPiPaU Why #blockbusters still rule @maegiFILMS 2 days ago
- @innovationanarc Hope you're going to attribute that quotation to its rightful source! 2 days ago
- RT @speculand: #Strategy is about making the right decisions; implementation is about taking the right actions. 2 days ago
- Great piece on #Weibo #IPO, how it differs from #Twitter's, censorship and #Alibaba's stake on.ft.com/1gZCM25 3 days ago