The Attention Economy Is Bankrupt – Are Trillions Of Digital Impressions Just An Illusion?

Digital advertising boasts jaw-dropping numbers, with trillions of impressions annually.

With about 5 billion internet users globally, trillions of impressions would mean each individual faces over 10,000 ads per day.
Yes, 10,000… which is not even possible, is it?
Break that down: Spending roughly six hours daily online, each person would have only two fleeting seconds per ad.

I’m thinking that the “golden age” of digital advertising is long gone.

I’d also make the argument that consumer intent has both shifted and is very different when laid against the models of advertising that we currently have.
Let’s not forget that users are constantly being inundated, some are being tricked and many are being misled (and even tracked) based on their usage.
There’s also a ton of fraud, bots, errors, pixel stuffing and more.
So, is digital advertising genuinely effective or is it no different than what we would define as “traditional advertising” from the days of yore?
In a world where marketers can do everything from content to advertising in text, images, audio, video, short-form, long-form, sponsorships, working with influencers, building their own lists/communities and on and on, shouldn’t the results, conversions and cost per acquisition be much better?

We were promised sophisticated algorithms, personalized content and relentless retargeting that might mean fewer, but more impactful, encounters… did that happen?

Maybe these trillion of views tells a bigger story: That advertising shifted from a scarcity model to one of abundance and… maybe… that simply doesn’t work for brands or consumers?

And here’s the kicker: Based on this new research, precise targeting is not statistically improbable.

Let that sink in.

So, what can businesses do to make this work for them (and it will be hard work):

1. Create your own metrics and meaning that are universal to your own business and don’t waver. 
2. Choose better publishers and platforms for your advertising needs. Work with those who have the audience that you are truly trying to get in front of. 
3. Audit what is happening frequently. Don’t do this quarterly and don’t do this post-campaign. Audit in real-time.
4. Smaller tests = bigger buys. Start small, pay attention and decide if it’s worth the bigger spend.
5. Account for shrinkage. All physical retail accounts for shoplifting and breakage. Do this as well. Fake traffic, bots and problems are real.

Final reminder: Your mileage may vary (as Seth Godin likes to say) and revenue speaks louder than impressions.

But there’s much more…

This, and other current marketing topics were discussed along with Lisa Laporte (TWiT.tv), Augie Ray (Gartner) and host Bob Knorpp (always a good human) on the very excellent BeanCast Podcast (which I’ve been fortunate to be a guest on in the past). I don’t know what it is about BeanCast, Bob Knorpp and these other panelists, but there is always “something in the water” when we record these conversations that brings out a lot of stimulating ideas and insights (and some friendly disagreements too!).

Are you ready for this deep dive into the world of media and marketing? Here is: BeanCast #773 – There’s Not Enough People.

For about an hour, we discussed and debated the following topics:

• Simple Digital Math.
• Creators Seeking Independence.
• Women’s Sports Delivers.
• AI Citing Bad Sources.

Take a listen and jump into the fray.

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