Friday, May 12, 2006
Esther Dyson on the Evolution of Advertising
In a May 5 Wall Street Journal Online pundit discussion, CNET Networks editor at large Esther Dyson offered an intriguing look at how the internet might affect the evolution of advertising. (You know -- the basis of the business model for most media organizations.)
Dyson said: "I think you'll see a fundamental shift in the balance of power towards individuals. Individuals will declare what kinds of vendors they want sponsoring their content, and then those vendors will have the privilege of appearing, discreetly, around the user's content. There will be much less 'advertising' and much more communication to interested customers. Advertisers will have to learn to listen, not just to track and segment customers.
"So the message to marketers is: If you can't sell your product (assuming it's already in the market), fix the product! Don't try to change the situation by advertising.
"Consumers will publish wish lists for marketers to scan. Also, their choices will be influenced by their friends' comments much more than by marketers' messages.
"On the other hand, it will be much harder for consumers to get free content anonymously, because advertisers will want to know more about the people they are paying to reach. In many cases, whether e-mail or ads, users may even get a share of the marketer's payments. (See AttentionTrust.org or my NYT op-ed on Goodmail or my post on Release 1.0.)
"This makes sense from advertisers' point of view, but it has a social downside: People who buy Porsches can earn more from marketers than people who buy used cars. People without money will find it harder and harder to get free content -- which means a role for nonprofits in funding access to content for all."
...Food for thought. And speaking of thoughts, how does Dyson's vision strike you? What could it mean for news organizations? Please comment below.
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