Does Marketing Have a Heart of Darkness?
The orthodox advertising model takes no account of reality, hopefully the Financial Crisis should bring back some sanity One of the few benign consequences of last years financial crisis was the exposure of modern marketing as an emperor with no clothes. Now it is a fact that modern marketing/advertising has to be urgently reinvented.
This could lead to a flowering of original thinking in a profession whose creativity has been stifled by the intellectual monopoly of orthodox advertising and marketing bodies. The dirty little secret of modern advertising is that the models created by media and advertising agencies said almost nothing about accountability.
The defunct advertising and marketing bodies today are the people who took control of the subject in the 1960s, with theories about the effectiveness of advertising.
These theories, never really tested with reality, had a major flaw, if reality contradicts these theories it was reality that marketing & advertising professionals wanted to change. It is not surprising that the whole marketing edifice has come crashing down. To-days approach prevented marketing professionals from thinking about a world that is, by its very nature, unpredictable and inconsistent.
Why did Marketing fail to predict the crisis. It is said they failed because they all had a flawed view about markets! To gain some genuine understanding of unpredictable communications marketing and advertising people will, first of all, have to understand the real meaning of the word "communications." Perhaps they don't really want to!
The formula of reach and frequency is a thoroughly dishonest formula, based upon the need to rip as much money off Clients with complete disregard to accountability. There have been far more effective methods of marketing, however because these achieved startling results with a substantial reduction in advertising budgets they were dammed by faint praise and shuffled off out of sight before Clients could be woken up to the fact that they were being, simply put, ripped off!
Advertising has encouraged the growth of the sick & degrading culture of celebrity in the quite erroneous understanding that circulation is one of the key elements within the charade called advertising. In an article "Admen to tackle mistrust" the Advertising Association is to urge members to fight back against waning consumer trust in advertising, which is another example of the complete lack of understanding on the part of the Advertising Industry of the communications process and individuals complete lack of interest in advertising.
In a survey it was established that only 15% of adults "generally trust advertising" Frankly I am surprised that it is so high.
Consider this, the strength of newspapers to markedly affect the outcome of elections is severely doubted, if editorial strength support cannot markedly affect political outcome just how can we expect advertising to have any effect! Especially if adults "don't trust advertising", add to that fact that right now they also don't trust politicians and surely we could find a better way to spent the vast sums invested in political advertising!The fact is that in all walks of life the "system", despite the original intention and rules, always becomes corrupted by its users and lazy administrators, advertising has become so corrupted and is in the process of corrupting the New Media as they have corrupted the Old Media!
Of course there is a tacit agreement to keep the current inefficient system going for as long as possible. The vast sums of money spent on advertising go towards making a few people very rich indeed, in the past, Media Barons created media to gain power, nowadays the reason for creating new media, in whatever form, is no longer a route to power, it has become a route to vast riches and never mind the quality of media hence the "dumbing down of all media" in recent years.
Don't agree with what I'm saying? Well then consider this little shard of information. As much as 60% of all tracked advertising expenditure world-wide during 2008 failed to deliver results expected by marketers and can be considered wasted. $70bn alone is spent in the USA on advertising extrapolate that out to world-wide and that becomes a hell of a huge waste of money.