June 16, 2015
The 25 Billion Dollar Delusion
How can it be that $25 billion in media billings has gone into review this year? It is astounding and unprecedented. But I have a theory...
What if there was a new type of gasoline? And what if this gasoline suddenly allowed a car to go 70 miles per gallon instead of 26 miles per gallon?
Everyone would want to try this gasoline.
But what if, when people tried it, their cars still got 26 mpg, or even worse, they went down to 24 mpg?
What would people do?
I think I know what they'd do. They'd assume there was something wrong with the variant of the miraculous new gasoline they were getting at their gas station, and they'd try a new gas station to get the proper version of the new gas.
But what if the new gas was not a miracle at all? What if all the talk was wrong and the gas was not only not magic, it was actually no better or even worse than the old-fashioned gas?
I have a feeling that's what's going on in the advertising business.
Clients have been reading and hearing for years about the miracle of online advertising. But the miracle is not paying off for them. From all the idle chit-chat they hear and read, they think it's paying off for everyone but them.
"How come it's not working for us?"
"We need to find a new gas station and get the proper version of this gasoline."
And, just maybe, that's how we wind up with an astonishing $25 billion in media billings currently in review.