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Little Brother
Sep 11th 2014 | The Economist | Alexandra Suich.

In 1963 David Ogilvy, the father of Madison Avenue and author of a classic business book, “Confessions of an Advertising Man”, wrote: “An advertisement is like a radar sweep, constantly hunting new prospects as they come into the market. Get a good radar, and keep it sweeping.”.....Behavioural profiling has gone viral across the internet, enabling firms to reach users with specific messages based on their location, interests, browsing history and demographic group......Extreme personalisation in advertising has been slow to come... online advertising space is unlimited and prices are low, so making money is not as easy as it was in the offline world,.....Digital advertising is being buoyed by three important trends. The first is the rise of mobile devices, such as smartphones....The second, related trend is the rise of social networks such as Facebook, Twitter and Pinterest, which have become an important navigation system for people looking for content across the web. ......The third big development has been the rise of real-time bidding, or “programmatic buying”, a new system for targeting consumers precisely and swiftly with online adverts. Publishers, advertisers and intermediaries can now bid for digital ads electronically and direct them to specific consumers at lightning speed.....The lines between established media businesses are becoming blurred. Richard Edelman, the boss of Edelman, a public-relations firm, describes the media and advertising business as a “mosh pit”. .... clients’ biggest question is whether people will even notice their ads. ...This special report will show that technology is profoundly changing the dynamics of advertising. Building on the vast amount of data produced by consumers’ digital lives, it is giving more power to media companies that have a direct relationship with their customers and can track them across different devices. ....Consumers may gain from advertising tailored to their particular needs, and so far most of them seem content to accept the ensuing loss of privacy. But companies are sensitive to the potential costs of overstepping the mark. As the head of one British advertising firm puts it: “Once people realise what’s happening, I can’t imagine there won’t be pushback.”
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february 2017 by jerryking

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