#AdMad – the model is broken!

We know it is yet we find ourselves still shovelling offering up the same old marketing and advertising.

Now I’m not one to throw the baby out with the bath water… but I am one to call a spade a spade and the way we do marketing and advertising needs to change.

I don’t have all the answers (just yet) but I am fully ready to acknowledge that it’s time to start digging.

I was recently approached by company X to help deliver a proposal that would drive sales. I asked for a week to do some research. I circled back a week later with a proposal that suggested their focus should be on customer service and operations to plug the holes in their bucket not on driving sales. Their churn rate was 1 in 3. Why spend so much time and energy on finding 900 customers just for 300 to walk away with such a negative experience that they wouldn’t consider returning. They thanked me and moved on. They needed to tick the boxes and meet their targets. I get it.

Some trends worth noting:

• An increase in niche communities will only further splinter the customer base beyond what it is now
• Instantaneous sharing of customer experiences, good and bad – although bad news appears to travel a lot faster.
• A strong dislike for noise <broadcast advertising online>
• The world is going niche
• The Adv. Model is broken – #AdMad
• If 78% of customers trust the recommendation of their network then we have to ask ourselves, “How do we become part of the conversation being had by the 78%?” – it’s certainly not by broadcasting to them
• The adoption model is shortening although not as fast as we’d expect
• Businesses have to work hard at being relevant (to their customer… not to their shareholders, although ironically…)
• I think @EricQualman is right… you have to embrace Social Technology now to even be a player in this market five years from now. And it does not equal facebook!

I wonder about Affinity Marketing and if it’s yet to see it’s full success. I wonder if Loyalty Marketing and Affinity Marketing hooked up to recognize and reward the conversations being had about you and your brand that leads to a sale or referral.

The conversation fascinates me… if you share a similar mindset or have some insight that you feel proves me to be a little off centre – then connect with me – I’d love to hear your thoughts on this.

photo credit: Kevin Steele