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What Changed?

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A 2018 article in the Harvard Business Review titled “Ads that don’t overstep” articulated how the Internet changed marketing and, thus, changed how media is sold:

The Internet has dramatically expanded the modern marketer’s tool kit, in large part because of one simple but transformative development: digital data. With users regularly sharing personal data online and Web cookies tracking every click, marketers have been able to gain unprecedented insight into consumers and serve up solutions tailored to their individual needs. The results have been impressive. Research has shown that digital targeting meaningfully improves the response to advertisements and that ad performance declines when marketers’ access to consumer data is reduced.6

Mel Karmazin’s magic has been replaced by data, which some experts have called the new oil, and which has made buying and selling media infinitely more complicated than it was before the Internet allowed marketers to micro‐target consumers based on their Internet browsing and searching behavior and their intention to buy a product.

Complex digital‐era selling requires new assumptions and approaches to media buying and selling, which we will examine in this chapter.

Media Selling

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