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How's that tesla 3-Volt working out for Consumer products?And the shock of the insurance? going from avg $800 to $2800why............????? because the damage the battery can do or the replacement cost.Chevy Volt replacement batteries are $7300 to $10k.? I can buy 4500 gallons of gas for that kinda money AND............I only need to stop long enough to fill the tank,NOT Charge it.? 4500 gallons should take most cars 90,000 miles.............the life of a Volt Battery.???
Dave, Great points. And while we wish that executives in the ad business fully understood just how things work, I fear that they simply never will. Even the basics of viewership measurement. Ask a president of a programming service how Nielsen’s sample is drawn, or how potential panelists are recruited, installed and then incentivized. What in-tab rates are for various demos? How the people meter actually works or how do the editing rules work to produce viewership? In my job, over the past many years, I have been asked to explain these types of things to senior executives hundreds of times. But very few actually took much interest in this information. My honest assessment (and I’m a consultant, so I am always honest) is that fewer and fewer people care about this stuff.
Hey Steve. Absolutely. Let me know next time you get around Big D.?
Great article Dr. G.? Really understanding your customers is the heart of any succesful marketing program.? Current data out there does a pretty poor job of understanding the "why" behind the buy.? Where trying to change that at Jebbit....We should connect soon
That's the truth! Seen many inappropriate uses of technology. People get caught up in buzz that is out of sync with user needs and desires.?Little user validation.?Saw a frantic client with a smart phone experience that was taking 15+ seconds to load in browsers. What were they thinking? Must have been "this is soooo cool".? Couldn't have beeen UX!
Hi Henry - Not a departure at all. Our platform is built to trade any complex asset class, not just online ads. In addition to trading other media types such as DOOH and OTT, our technology can easily be adapted for other industries, such as (hypothetically, of course) shipping and logistics or real estate, for example.?We'd be happy to go into more detail with you outside of the comments at your convenience.?
George---hic----I always take your columns---hic---seriously---hic.
Ed: I have probably written close to a thousand columns for MP. This was the most bizarre (yet). If you think there is anything even suggestive of seriousness in here, you need to sit down and drink heavily.
George, surely you don't believe that anyone is measuring the viewing habits of babies accurately---do you?
Great points and perspective Ed. I totally agree that there are a bunch of issues, both structural and cultural that prevent the leaders in our industry from learning how the blocking and tackling is conducted. I believe that it is critical that we find ways to reverse this, or we will continue to see too much energy, time and resources in our industry chasing wrong-headed strategies.
Cory, while I'm not in total agreement with your notions, I do share your data orientation and the view that risk-taking and a long-term investment mindset are necessary but not sufficient. Most of us have talked with a broad range of brands and clients.? Some of them "get it," many don't.?? What’s unnerving is who in the organization controls the purse.? All too often that’s in finance and accounting.? Those folks are usually conditioned to say “no” and are unduly impacted by short term versus long term expectations and outcomes.? Investing in good “art” pays off in the long run.? Investing in good science also pays off in the long run.
Dave, many kudos on addressing the pervasive black box issue. It does point to a critical transparency issue in our business. It also highlights, per Ed's comment about infusing C-suite/agency leadership with a sense of a how tech works as a lost cause, the tremendous disconnect or even apathy at higher levels.? No, senior execs don't need to bathe in algorithm granularity, but they are responsible for knowing what they are paying for.? And sometimes that bill is pretty high. To justify lack of knowledge with an "at least X performed better than Y" mentality shows lack of fiduciary responsibility to brands and clients. At some shops the adtech/martech budgets are higher than the base IT budgets. How is all that money being held accountable? When you start digging into how many intermediaries are taking % cuts along the path, it prompts brands to bring processes in-house.? Can you blame them?? When it's in-house, at least it's their own black box and they know what's inside and how it works.
Super interesting (how come I didnt think of it...after all, they were horn with us saying "organic" all the time Vs other generations)!!"Generally speaking, consumers who shop organic can’t be put into a stereotypical box, according to the survey." - Why generally speaking..., bc its philosophical?
The problem, Dave, is that most higher-ups, especially on the advertiser side don't see a need to immerse themselves in what they regard as tech or research trivia. They like to believe that the agencies are on top of that---which often, these days, isn't the case. This is not because the agencies are derelict in their duty. Rather, it's because they are squeezed so tightly on their fees and person-power assigned to each account that their expert, generalists, such as the media research folks, are expected to do this kind of thing without charging the client for their time. And, to be fair, unlike TV's early days, when advertisers developed and sponsored their own shows and subscribed to Nielsen, the agencies know that their clients, despite what they say in public, don't really care---so long as the agency isn't totally screwing up the media buys. I should note that my comments refer primarily to traditional media, not digital, where there is much greater pressure by clients and lots of them are going in-house to save money ( questionable ) and/or as a result of agencies who specialize in digital, not being "transparent" as has been revealed so many times recently. Here, there is a need to know but, though not to learn all of the intricate details but, mainly, the concepts and what benefits they mey bestow on the advertisers' sales promotion activities which are the main thrust of the in-house movement.I think that trying to make senior advertiser and agency management types well versed in the subjects you raised as well as others, is a lost cause. However, making them understand that they need to fund and support those in their organizations who not only should know this stuff but would find much of the learning process very interesting might gain support---if you can find a way to connect with the big shots and convince them to pay real attention to the media function.
All criminal activities.
Users are already letting Alexa make decisions for them.? You snooze, you lose...http://pjlehrer.blogspot.com/2018/11/are-you-letting-alexa-make-buying.html
Doug is right (or perhaps left??).? That Jeff Zucker would appoint "a known right-wing operative" is beyond appalling especially in country where the center is already significantly right of most other western democracies and where Fox is now openly referred to as Trump TV.? In a recent New York Times Op Ed Dr. Paul Krugman reminded readers that in his opinion America is an "idocracy".? With the "vile" (Steve Schmidt) "moron" (Rex Tillerson) calling The New York Times "the enemy of the people", Mr. Zucker's pandering to the right at this critical time becomes part of that "idiocracy" which is surely going to damage a brand that has made such gains with its forthright and truthful reporting.? Anyone formally reporting to Jeff Sessions should have been automatically disqualified from taking any position, notably as political editor, at the "evolving" CNN!? Maybe Mr. Sorkin should be appointed to head CNN effective immediately??
Never worked before and given how awful this product is, can't imagine that will change
Hi Josh.? I agree FB is a fantastic platform and can drive meaningful ROAS.? If your using basic KPI's such as impressions, CPC and others, your tactic might work.? However, if you're looking at financial KPI's such as CPA, AOV, CLTV, etc. and unwilling to rely 100% on FB pixel attribution, advertisers are far better off with controlled tests and independent analysis of placements, creative, ad type, audience, etc. I just can't get my head around using FB's black box for audience selection, placement optimization, media buying, campaign reporting and attribution. Way too much trust without verification.
Very good points, Lauren. All to often we place far too much faith in data without learning what it means. A case in point was the inclination some years back to evaluate TV commercial impact bsed on the proportion of viewers who "liked" the ad. That made it very simple---indeed, too simple. Why? Because, even if "liking" corelated with other metrics----message registration, intent to buy, etc.----it told us nothing about why the viewer liked the commercial. So even if you had a winner---based on liking---you had litle to go on regarding how to fashion your next ad or what to say in it.
Fighting polarization with polarization?
So it seems Lara Logan is correct about 85 percent of journalists. In post-truth news media,? viewers get the news that soothes them.