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Do radio and TV still make sense vs digital advertising? Only if you remember this basic principle

Buy on rumor. Sell on news. That’s the first investment principle my parents taught me a half-century ago—it still applies today. If you buy based on what’s happening, you’re already late. That’s what seems to be happening in the lemming-like rush to digital advertising.

The Wall Street Journal this morning reports “For the first time, more than half of U.S. advertising spending is set to go to digital platforms such as Google and Facebook as the sector continues its growth amid the upheaval of the pandemic, GroupM said in a new forecast.”

Digital Advertising vs Broadcast

Yes, digital appears cheaper. Yes, digital can “target” better than broadcast. Yes, it appears digital measures better. But, these three points obscure the benefits of investing budget in broadcast media—or, as digital converts oft refer to it, “traditional media.”

Digital advertising is cheaper because it cannot do what broadcast can

Digital advertising populates across networks of sites. That means its reach is inherently limited contrasted with broadcast. Yes, you’ll speak to specific prospects, but you lose the benefit of reaching influencers or potential buyers who may not yet be in a purchase cycle. Comparing digital to broadcast is akin to comparing cable with broadcast television: spots are cheaper; reach? Not so much.

Digital targeting misses more than it hits

Targeting by its very nature doesn’t reach a mass audience. The more one to one your targeting becomes the more ones you’re missing. Digital targeting’s efficiency costs you the benefits of collateral reach. Targeting leads to an ever-tightening focus deeper in the buying funnel. Brands, on the contrary, are built by attracting new and potential buyers into the funnel. Trying that with digital is like saving every starfish on the beach; there are many and you have only two hands.

Digital measurement’s inherent limitation: humans

It’s hard to argue the science of clicks. Understanding what prompts one, on the other hand, is still art. Clicks are the trigger moment, the climax of a longer drama. It’s High Noon and you hope to be Gary Cooper. (Sadly, some may need to Google that—it’s worth the trouble.)

Your message, digital or broadcast, exists in the wild fighting for attention, appealing to the customer’s self-interest enough to prompt action. It’s that funnel thing again: don’t let counting what comes out distract from how much goes in. Humans are messy, emotional, unpredictable things. That’s why you can’t believe everything a click seems to tell you. Clicks are an indication, not a measurement. Understanding behavior at emotional moments like a buying decision remains more art than science.

Broadcast’s sucker punch makes it a savvy investment

During the onslaught of the pandemic, many a business slashed and burned advertising schedules based on news reports. Not one of my clients followed that rush. In fact, we snapped up bargains and benefitted from an increased share of voice: fewer competitors vying for audience attention. Suckers panicked and took the punch. Could this latest rush to digital create a similar opportunity now? Rumor has it…

Digital is one tool, not THE tool

For the record, I recommend digital advertising for clients—as one of many tools. Just as I love Cherry Pie at Thanksgiving, I don’t make it dinner. (Though, it’s tempting.)

The hype of this latest digital tipping point will probably mislead many into cutting budgets because finally, as they’re led to believe, there’s a way to eliminate the so-called “waste” of broadcast. Baloney. Building a brand without mass reach is a risky and ultimately more expensive strategy that’s like chasing yesterday’s news.

PPC Is Not Advertising

Remember when we called the internet an “Information Superhighway?” Let’s roll with that analogy for insights into how you could do better getting traffic to your site.

When you have a store along any highway, it’s smart to know how much traffic rolls by. You also want at least a count of competitors. Net Craft (Jan/2016) estimates there are 906,616,188 websites along the information superhighway; the average person visits less than 96 of them a month.

Not Great Odds

But, hey, you can beat those odds with PPC Ads, right? The idea behind PPC is that when people search on what you sell, you can get ‘em off the highway and onto your website for a few dollars a click.

What you need to understand is that PPC is NOT advertising at all. It is, therefore, not a great choice as a primary source of traffic for your website.Continue Reading

CitiBank shows how to fail at failing in the Costco Visa-Amex conversion 

In preparing for battle I have always found that plans are useless, but planning is indispensable.”

Dwight D. Eisenhower

It seems so simple: All CitiBank needed to do was convert an estimated 11 million card members to their new credit cards—all on the same day.

What could possibly go wrong?

It seems CitiBank failed to plan. So, they planned to fail.Continue Reading

Six ways to supercharge personal endorsement ads

EndorsersEndorsement ads are easily separated into two categories: live reads and true personal endorsements. One is more effective than the other. Which are you getting? Are you sure?Continue Reading

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Your intrepid correspondent

I head both MogerMedia, Inc. and Wizard of Ads Gulf Coast, based in Houston, Texas. We develop winning advertising strategies and creative for the best clients on earth.

Grooveyard of posts past

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