In the eighties and nineties there was no bigger star in the advertising field than Nike, and no more successful spokesperson for sports apparel, than Michael Jordan. But despite experiencing immense success from their "Just Do It" slogan that they have utilized over the past 20 years, Nike is constantly changing the way that they advertise, and what outlets they use to reach the end consumer. Nike, much like other companies has begun to transition more and more of their advertising from traditional media outlets such as television and radio, to the internet. The reason for this? With the internet, companies like Nike can reach millions of consumers instantaneously through mediums like YouTube and Twitter, and do so very in a very cost effective manner. This generation of consumers is more active on the online and alternative media outlets than traditional ones, forcing marketers to adapt to better reach them.
In addition to changing the way that they gather information and interact, consumers today are not focusing more on finding the newest and best product on the market, but instead they are seeking experiences instead. This change is causing companies to create experiences rather than simply products alone, Nike for example, has created an online community where fellow runners can share their results and experiences with other Nike running shoe owners. Creating "experiences" like this online not only intrigue the shoe owner, but create massive amounts of user-generated advertising that will continue to promote the brand and raise awareness without any additional funding from the company that created it.
The increase in internet usage has created unforeseen complications for television advertising. As consumers' appetite for media increases astronomically over the years, the amount of channels available increase as well, fragmenting the concentration of viewers per channel. This as a result has caused advertisers to show advertisements across different channels and media platforms, ensuring that they can reach their target market wherever they are.
Tuesday, September 23, 2014
Tuesday, September 16, 2014
The New Age of Advertising: Facebook & Google
Google and Facebook have both altered the the advertising industry by changing how we reach our target audience, and how we can do this in a very cost-effective manner. Google's major contribution to the advertising field came with the unleashing of a product called AdWords, which allowed marketers to bypass traditional advertising mediums and directly target consumers who were searching for something related to a specific product or service the marketer was selling. Google has served as the advertising platform for even rival company, Microsoft, who rely on Google's AdWords to successfully target consumers. Google has even forced other advertising outlets such as the television industry to be much more accountable and transparent in how they measure the price of advertisements, according to their actual effectiveness.
Facebook has been the other main driver of change in the advertising industry since its launch in 2004 by Mark Zuckerberg, a Harvard University student. Perhaps Facebook's most significant attribute is that it provides a rich amount of data on users that can be accessed by marketers Everything from their current interests, to a genre of movie that they are into would be accessible to a paying marketer. The growing accessibility of social media sites like Facebook raise notions that these social media websites may one day replace email all together. Users can access their profile from any smartphone, laptop, or tablet, and can reply instantaneously just like they were using email. The only difference: most young adults spend more time on Facebook than their email. Facebook also allows companies to build an online community and generate massive amounts of user-generated content, whether it be reviews about their products, or ideas for a new one.
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