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Peering into the Crystal Ball: The Future of Advertising Project

Friday, Jun 5, 2009

Courtney Huckabay

 

Will it tell us what we all want to know? Is it what we’re all dreading? Should we all pack up our desks and look for new careers? Shake this Magic 8 Ball of a survey and your future looks bright!

With multiple studies and surveys covering various countries and thousands of respondents, the project that the Advertising Research Foundation commissioned in December should be your Advertising Bible for the next decade. In collaboration with the Wharton School, “The Future of Advertising Project” produced 21 papers that will be published later this month in the Journal of Advertising.

Thanks to Advertising Age, we have a sneak peek at key findings, and this is the section I want to cover today. Based on 880 entries for the U.K.’s Institute of Practitioners in Advertising Effectiveness Awards, these rules are what make ad campaigns work! The following strategies are most likely to increase sales or profit:

  • Focus on hard objectives, such as specific market-share gains, rather than soft ones, such as brand awareness
  • Focus on price, not volume
  • Focus on penetration (winning new consumers), rather than loyalty
  • Influence consumers emotionally rather than rationally
  • Create ads with “talk value”
  • Have a high share of voice relative to brand market share
  • Include TV in the mix
  • Include a small number of media channels with a concerted message

    • [Source: Les Binet & Peter Field, June issue, Journal of Advertising Research.]

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