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Advertisement. A dreaded word for many companies that don’t want to spend the time and money creating, approving and buying ad space, especially when ads are not working on people today like they used to.
The first TV advert was the notorious and groundbreaking 10-second Bulova commercial which aired before a Brooklyn Dodgers and the Philadelphia Phillies game in 1941. Bulova paid a mere $9, or around $180 in today’s value, for the placement of their advert.
In 2020, the average cost of a 30-second commercial during the Superbowl was $5,600,000.
The power of advertising was to get into magazines, in between popular shows and games during commercial breaks, or to plaster your business on a billboard along the highway. Bright, flashy signs, the perfect model to match your brand, and a bottomless wallet to spend on advertising was the right way to reach customers, or so brands thought.
Today, companies are seeing that is not the case. Millions of dollars are spent on advertising to little to no effect. The rise of social media created a new brand of customer. Now, companies scramble to pay for influencers to promote their products or services on social media platforms like TikTok or Instagram.
This is evidence that the people of today are not responding to the historical, tried and true ad experience of the 20th century. No longer are people getting sucked into infomercials or loud and flashy commercials. Social media influencers are even facing problems getting people to actually support their sponsored content.
Why?
Because people want authenticity. People want reliable, dependable reviews.
If you are a company owner, a founder, or if you work in advertising or marketing, you know that the best advertisement is a genuine, satisfied customer.
The way to succeed in today’s era of consumerism is to produce great products or services, maintain customer relationships and reward customer loyalty. You can spend millions of dollars on ads, or you can dedicate your company’s resources to creating products that people want to recommend to their friends, family members, and followers.
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