Who would have guessed the downfall of old media would be social media? There was a time when people thought it would be the banner ad. When I worked at Yahoo! at the turn of the century and a small advertising company after that, we just took if for granite that advertisers would eventually migrate to the Web. It offered superior analytics and was where all the eyeballs were going, but the reality is people just didn’t click. I saw the eye tracking studies at Yahoo!, it was amazing how we could block out all advertising on the Web. When I worked at Experian I was convinced that it was only the older and novice users who clicked – that is outside of search marketing but Google pretty much has a lock on that.
Today traditional media is tanking, even CBS is on the brink. The economic meltdown certainly didn’t help but probably only accelerated a trend toward social media. Companies are taking money out of online marketing campaigns and transitioning that into their own websites, into social media. Funny how years ago we thought it would be the banner that silence old media.
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