eMarketer’s recently released report, Advertising in the Moment: Real-Time Strategies for Paid Social Media, does a great job of examining the status quo for traditional media buying, the shortcomings of existing ad buying models, and the reasons behind the current shift to a real-time advertising environment.
Much of the benefit of real-time marketing results from the ability to know what your customer wants, right now. At the speed in which consumers are moving, this is a necessity for the modern marketer.
Traditionally, weeks (or even months) pass from the time a brand decides to initiate a campaign to the time a consumer ever lays eyes on it. Jason Kapler, director of marketing at Networked Insights, (and resource for this eMarketer report) echoes this sentiment, noting: “We’re coming from a world where we used to think in calendar years. We used to think in quarters, and we used to think in campaigns. Now we live in this always-on, real-time world, and the processes that we have to make decisions or to support decision-making just don’t fit.”
Advertising in the Moment touches on how one aspect of the marketing process can suffer because of time lapse from idea to execution: paid advertising.
Making a paid advertising commitment so far in advance is often difficult for brands for one simple reason: there’s no guarantee what will resonate with consumers today will be as effective tomorrow. It’s the same message Networked Insights conveyed during our Outsmart the Upfronts campaign (which is mentioned in this report).
From the report:
“…The idea of pledging large sums of money in advance, rather than making decisions on the fly, seems antiquated at best, and antithetical to success at worst.”
Drafting TV commercial scripts, designing artwork for paid ads, developing slogans, choosing celebrity spokespeople, and choosing the exact outlets in which to buy ads are all most effective when marketers are able to keep pace with consumers.
Consumer conversations on the social web are the marketer’s best weapon to do so. Every second, hundreds of millions of consumers are speaking up. The only necessity is a platform that can turn the mountain of real-time conversations into insights that marketers can act on.
Learn more about how Networked Insights analyzes social data to improve brand advertising – both message and media decisions – and start putting social data to work for you.