According to the former CEO and president of the Interactive Advertising Bureau Greg Stuart, $112 billion of U.S. ad spending is wasted. Stuart made the comment at the two-day Future of Online Advertising conference in New York: “This is a problem. Here’s what needs to happen.”
Stuart said the major thing advertisers need to know is “Online advertising must pass the glance test—I must be able to look at something and get it within two seconds. It’s not that different from advertising in any other medium. But it’s more crucial when it comes to online, because of all the choices available to users, immediacy is a must.”
He added that even when a strong response comes from a campaign, many don't know what the increased Web traffic means; there is a lack of understanding on what constitutes success or is being achieved.
The three things Stuart recommended to combat this were:
* Everyone must agree on goals. Stuart gives an example of an advertising campaign for the IAB where everyone got together and nothing could be agreed upon concerning what the campaign was supposed to accomplish.
* Have a backup plan. We've got to assume something will wrong somewhere within a campaign and a backup plan must be ready to implement if or when it does.
* Understanding Value. We must know the value of the dollars we spend across the variety of mediums we market across.
Stuart has written a book on the subject called, What Sticks: Why Most Advertising Fails And How To Guarantee Yours Succeeds
» Former IAB CEO Greg Stuart Says U.S. Advertisers Wasting Billions from BizzBites.com
According to the former CEO and president of the Interactive Advertising Bureau Greg Stuart, $112 billion of U.S. ad spending is wasted. [Read More]
Tracked on: June 7, 2007 3:41 PM | Permalink to Trackback