Media Malfeasance: Observations From the Front Lines: Still Wondering…Why Is There So Little Online Media Advertising? - Matthew Greene - MediaBizBloggers

I feel so strongly about the boneheaded math that agencies and advertisers insist on perpetuating in the digital arena I39m compelled to elaborate on my last blog Wondering All the Way to My Grave For those who haven39t read it I painted a brutal but accurate picture of this 39boneheaded math39 Here39s the CliffsNotes versionamp183 Over 93 of all consumer sales and transactions occur at retail that39s a 4Trillion annual retail marketplace vs 156 Billion in ecommerce marketplaceamp183 Over 40 of all consumer media consumption occurs on the Webamp183 Yet only 69 of all advertising media as measured by TNS went to online media channelsI clearly struck a 39digital39 nerve since this article generated an impressive amount of comments on MediaBizBloggerscom At the same time I received many email responses from industry leaders across all media channelsEveryone completely agreed with my assessment about how misguided most marketers and agencies are when it comes to allocating their media budgetsamp183 Everyone thanked me for pointingout the insane math that still guides the advertising and media businessamp183 Everyone also agreed that my tone and manner may have been a tad too provocative I thanked those who offered their opinions and replied quotwhen I want your opinion I39ll give it to youquotActually I truly believe my being a provocateur is well intentioned and appropriate to the mission The mission To shareshift at least 30 of all ad dollars to digital channelsOne of the main problems and a large hurdle is the way brands and retailers have set up their businesses Since the web39s very beginning the ecommerce divisions of these companies have been relegated to the 39back room39 with a sole missionamp8212use the internet to drive online sales and drive everincreasing ROI These folks have the deepest knowledge of the online space in their respective companies but are not encouraged or in some cases even allowed to share this knowledge with their retail or brand partners This creates a huge disconnectamp8230it is boneheaded thinkingI read a great article on this very topic httptinyurlcomykbml6j Briefly in an online study by Forrester they have found that many eCom execs recognize this trend and want to change it In fact the article states that quotRoughly 32 of business executives responsible for ecommerce andor channel strategy say their company lacks a vision for providing consumers a consistent multichannel experiencequotThese companies are all still stuck in the mindset that online marketing drives online sales and traditional marketing drives offline salesTrue cross channel marketing is the only way to break this cycle and allow consumers to decide how they want to make a purchase recognizing that there is rarely ever one point of contact in any marketing strategy that causes that saleBy embracing the cross channel experience marketers will truly be able to take advantage of not just the web39s potential but all media It will also get us closer to the goal of 30 shareshift to onlineAnd much like we were able to predict back in the 399039s that the ebusiness owners within major manufacturer companies and retailers were destined to become 39heroes39 within the company by virtue of the accountability and profits that ecommerce generates we predict that whoever owns and champions crosschannel marketing within these same organizations will become superheroesMatthew Greene has over twentyfive years of strategic advertising and marketing experience working with bluechip companies Matt can be reached at matthewgreeneblueribbondigitalcomRead all Matthew39s MediaBizBloggers commentaries at Media Malfeasance Observations From the Front Lines MediaBizBloggersFollow our Twitter updates MediaBizBlogger

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Media Malfeasance: Observations From the Front Lines: Still Wondering…Why Is There So Little Online Media Advertising? - Matthew Greene - MediaBizBloggers

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