Your new post is loading...
In the old world, there was no effective way to target individuals searching for niche products, so the companies that succeeded — the household names, so to speak — offered products that appealed to broad swaths of people, and advertised by reaching thousands, and in many cases, millions of people at once (see: Super Bowl and radio ads). The companies who ran successful advertising campaigns through these mediums, then, tended to be of a certain ilk, whether restaurant chains, car brands, department stores, insurance agencies, or brands under the umbrella of a larger consumer goods company.
Enter the modern era, and the internet has flipped the traditional retail model — one characterized by massive investment into retail locations and brand advertising — on its head. Distance between buyer and seller no longer constrains sales — a consumer in Japan could just as easily obtain a watch manufactured in Detroit as a consumer in Detroit could obtain a Sake produced in Japan.
The internet has given buyers and sellers unprecedented access to one another; it has never been easier for a buyer to find a seller who has what they need, just as it has never been easier for a seller to find a user who needs what they have.Google and Facebook ads are a microcosm of this effect. No longer is the cost of individual consumer acquisition so high that reaching a million consumers at once is the only effective way to advertise. Now, through Google and Facebook, niche businesses can target specific individuals whose data determines that they are prime candidates for said niche product or service. ...
Does advertising still matter? And, does it still work? Recommended reading. 9/10