If you’ve ever visited a major indoor shopping mall, you’ve probably seen a store called, As Seen on TV. It’s a phrase that has often been a part of some print ads and suggests that, because a product has been advertised on television, it must be good.
But if philosophers are fond of hypothesizing that we are in the postmodern era of thought, mass marketers might mention that we may be nearing the post-television age of advertising.
It’s not that TV is still not a major player as an advertising venue; it’s just that the Internet is growing in influence at a much faster rate of speed.
Low cost, long reach
Here’s how Ad Age describes it:
“The theory is that wary financial investors will applaud spending on social media because of its lower cost and growing reach.”
The leading magazine on the advertising industry is quick to point out that the single largest share of advertising bucks still go to television, but that more and more advertisers are pulling dollars from print and radio to pursue social media marketing.
Not an equal playing field
But only the big players in that world are deriving the greatest benefit of the shift to social media.
Ad Age continues, “Online advertising appears vigorous but look under the hood and you’ll find it’s running largely on Google and Facebook.
‘The rich are getting richer,’ said one digital-media executive, referring to the two giants, which continue to put distance between themselves and the pack. ‘All our clients call me and ask, ‘What is our Facebook strategy?’ — despite a wide lack of agreement on the effectiveness of social-media advertising, the exec said. ‘We are seeing increases in spending motivated less by financial evidence than a belief that “they have to be there.’
“Facebook, of course, is only too happy to foster that belief, as marketers described an aggressive push by the social network as it looks to ring up ad sales before its initial public offering. Brian Weiser, analyst at Pivotal Research, estimates that Facebook grew 46% and Google 22% in online display in the first quarter.”
The Age of Google
Google outruns all other search engines in popularity. Every second, so many people visit Google that advertisers willingly pay large sums for on-screen advertising space on pages with search results. This is targeted marketing at its best.
Someone who is looking for information on vegetarian diets, for example, is a more likely customer for a store like Trader Joe’s than someone who is a meat-and potatoes customer.
The algorithms that Google’s search engine uses provide an unrivaled linkage of products and potential customers. And that is a dream come true for advertisers. It’s not a bad dream come true for Google, either, which sees much of its $23 billion income originate from advertising.
Slicing and dicing
Says media scholar John Vivian, “In effect, Google slices and dices the mass audience in ways that give advertisers unusual efficiency in reaching the people they seek. In advertising lingo, there is less wastage. Why, for example, should a marinara company buy space in a food magazine whose readers include people with tomato allergies when Google offers a targeted audience of people looking for spaghetti sauce recipes with nary a one among them who’s allergic to tomatoes?”
If Google is king or queen of the search engines, then Facebook leads all social media sites in advertising lure, according to Vivian and Ad Age.
Facebook focuses more on behavioral targeting, collecting personal information on its users who are, coincidentally, the potential buyers of advertised products. The personal data of Facebook users is organized and catalogued in ways that offer a mother lode of targeted consumer data for mass marketers.
Vivian points out in The Media of Mass Communication, that each month the 200 million+ users holding Facebook accounts post some 4 billion bits of information, 850 million photos and 8 million videos, all of which says a great deal about the behavior, likes and dislikes of these individuals.
Members offer it up
“Facebook has incredible potential to deliver customers to advertisers based on information that members submit themselves … when they communicate with friends, identify their ‘likes’ … and share their interests,” Vivian notes.
“The ‘Likebutton’ introduced in 2010, allows advertisers to shower anyone who clicks it,
as well as their Facebook friends, with messages. Within a year the button was on 2 million websites. The button is a vehicle for what’s called “referral traffic.” Advertisers and other sites report huge increase in traffic.”
Of course, many worry about the further erosion of privacy that comes from simply clicking a “Like” button, because it sends an instant message to advertisers that here is a potential target. As a result, many Facebook users are more judicious in deciding when to hit that button.
For its part, Facebook says it doesn’t pass on information to other parties without the user’s permission, although it does use the aggregated data. Few of us actually read the legal agreement which we agree to on Facebook but, if we did, we would find this: “We serve the ad to people who meet the criteria the advertiser selected but we do not tell the advertiser who any of those people are.”
Like so many other aspects of the Internet, the social media seem destined to be here for a long time to come. And anytime a couple hundred million people decide to flock to a media site, you just know the advertisers are going to be there in the midst of them.