What are challenges advertisers face today?
There has been significant growth in digital advertising industry with many rich media, interactive ad options. However, there must be challenges advertisers face today. Wondering if some experienced people could throw some light on the question.
The biggest challenge to bringing significant brand dollars online is pushing advertisers and agencies to stop thinking as online budget as an afterthought, where they simply repurpose offline strategies. Holding your online camapign captive to offline established metrics is like owning a Ferrari and then complaining that it doesn't get very good gas milage.
It's bad when you run out of money or goods. It's even worse when it happens unexpectedly. There is only one way to avoid such a disaster ” " build a system of budgets in the company that allows you to plan financial and product flows. You can find out more about it here https://mediaonemarketing.com.sg/singapore-digital-advertising-costs-investment/.The calculation and distribution of the advertising budget must be fully justified, otherwise you will simply "waste" money and aimlessly waste the limited resources of the company
With so many advertising media options available AND the sheer volume of ads in place, choosing the right media for your message and your target client is hard enough. Factor in actually capturering your target's attention among the mass of interactive and multimedia noise out there and doing it in a way that does not distort your point or, alter your brand image has to be the greatest challenge. Having the restraint to stick with what is an appropriate media and style of delivery for you, despite advice to the contrary, has to rank a very close second.
To name a few:
- The prolifieration of advertising options
- The proliferation of mobile devices (and having to support multiple platforms)
- The ubiquity of opportunities for customers to voice their opinions
- Immature success measures for digital channels
And as Tom notes, information overload and consumerization.
I do agree that it's much harder to grab peoples attention but I also believe that companies are forced to spend more time and/or resources building their brand in today's market. Instead of simply purchasing ads across various mediums, now companies need to create a voice and build relationships in order to establish customer trust. While I believe it's a positive change, it does present new challenges to many companies.
The real #1 challenge -- and objective -- in advertising is to DIFFERENTIATE your product/service from the competition.
You need to convey what makes you different, special, because that's what every potential buyer wants to know. But very few marketers know how to do differentiation marketing well. And that's the #1 reason most marketing fails to be effective.
There are lots of easy ways for advertisers to "get attention," or "be entertaining" -- but bottom line, if you don't differentiate yourself, you're dead. You won't convince anyone to prefer your product and you will waste a lot of ad dollars.
"Imagine how fun it must have been to be the first person to market aspirin. Here was a product that just about every person on earth needed and wanted. A product that was inexpensive, easy to try, and immediately beneficial.
Obviously, it was a big hit.
Today, a quick visit to the drugstore turns up: Advil, Aleve, Alka-Seltzer Morning Relief, Anacin, Ascriptin, Aspergum, Bayer, Bayer Children's, Bayer Regimen, Bayer Women's, BC, Bufferin, Cope, Ecotrin, Excedrin Extra Strength, Goody's, Motrin, Nuprin, St. Joseph, Tylenol, and of course, Vanquish. Within each of these brands, there are variations, sizes, and generics, adding up to more than a hundred products to choose from.
Think it's still easy to be an aspirin marketer?" - Seth Godin (The Purple Cow)
As the previous person answered it does have to do with getting a person's attention. If you are going to do high octane ads, you better do them really well OR really badly. By that I mean, that if your ad really sucks, people will still be talking about it and they will remember your name. As "they" say, "talk about me good or talk about me bad, just talk about me." So the name of the game in this aspect of advertising is to make a impression.
The other way that our business helps people make an impression in person is very similar. Everybody has a business card to give and they usually end up in the trash if they make it past the parking lot of your business. But, if you hand them a gift that is something they will use with your logo on it, they are more likely to remember your name and keep the item you give them.
It seems to me the biggest challenge in getting people's attention. It gets less possible all the time to blast information at people effectively. You have to offer something that inspires the receiver to let you in through their defenses. The most important aspect of media today is that the receiver is in control of what is received. I have 400 channels on my TV and only 40 on my favorites list; the others might as well not exist. I block anyone on social media who treats them like marketing tools. I read two dozen blogs a day through an app that removes commercial content. More or less, if I don't want to receive a message, I don't have to. In marketing attention is the ballgame, the threshold issue without which everything else is crap.