Advertising Industry Upheaval

Jeff Jarvis writes:

Advertising is the next big industry to suffer huge upheaval thanks to the internet. They may think theyre already there, but theyre not, not by a long shot. In fact, it is the ad industry that is holding up the progress of other industries newspapers, TV, radio, cable that are already getting tromped on by that elephant. Advertisers can get away with moving slowly for now because they are the ones with the money. Funny how that works. But this wont last for long, as one client and then one agency discovers that the lazy, traditional, one-stop-shopping of TV upfront and the big-media lunch circuit is inefficient, wasteful, untargeted, irrelevant, and ultimately damned irritating to your customers. Once that tipping point comes, dollars will start flowing to the upstarts online not as many dollars concentrated in a few places as before, but spread out far and wide. As Bob Garfield pointed out in Ad Age and on On the Media, the upstarts arent quite ready for it, but once they see money sitting on the table, theyll get ready fast. The day of reckoning nears.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.