I remember the day in vivid detail. I was on a weekend trip visiting my girlfriend at the time in Arizona. She had decided that we should join her friends to go “cliff jumping.” We were early on in our dating and she obviously...Read More
by | Mar 1, 2016 | 0 |
Bob Hoffman is the former owner and CEO of ad firm Hoffman/Lewis. After 22 years of experience with his own ad firm, Hoffman is convinced that “the marketing and advertising industries are currently in state of great confusion.”
Hoffman has become known as the “Ad Contrarian.” He sold his firm in 2013 and since then the caustic, but funny ex-ad man has made a name for himself in critiquing the ad business.
Speaking at the Shift 2016 conference in London on Tuesday, he said that there are three major misconceptions clouding the industry: “All of these delusions have one thing in common: they take a little bit of truth and then they distort it and they exaggerate it and they torture it to the point at which it does our marketers more harm than good.”
1. The brand delusion
The first mistake advertisers make is thinking that other people actually care about their brands.
“Creating a strong brand should be every marketer’s primary objective and the highest role of advertising is to create a strong brand. But our industry has taken these truths and twisted them into silly fantasies,” Hoffman said. “There’s a widespread belief in our business that consumers are in love with brands. That consumers want to have brand experiences and brand relationships and be personally engaged with brands and read branded story telling.”
One consequence of “all this baloney” is that the industry has spent almost 10 years and “billions of dollars exhorting people to join the conversation of our brands.” But it’s still unclear what that conversation is.
Hoffman continued: “People have shaky jobs and unstable families, they have illnesses, they have debts, they have washing machines that don’t work, they have funny things growing on their backs, they have kids that are unhappy, they have a lot of things to care deeply about. It’s very unwise to believe that they care deeply about our batteries, our wet wipes and our chicken strips.”
2. The digital delusion
The next false belief that Hoffman says is damaging the ad industry is the over- exaggeration about the importance of digital.
He said: “As a result of all our reliance on digital technology, we have made a very incautious leap of logic. We have assumed that digital technology has made irrelevant everything that came before it. For over 10 years, we’ve been hearing about how a digital revolution was going to change everything. It was going to kill advertising, it was going to kill traditional marketing, it was going to kill everything in its path.”
He added: “Just walk outside, it’s everywhere. It’s on every burger, every bus, every t-shirt, every bench, every theater ticket, every square inch of the f—— planet is covered in advertising.”
Hoffman then talked about ad fraud — the issue of marketers’ money being wasted because online ads are being served to bots rather than people — and the other problems associated with display ads.
“Marketers are pouring more and more money into online advertising. They don’t know what they’re buying, they don’t know who they’re buying it from. They don’t know what they’re getting, they don’t know how much they’re paying. If there’s a better definition of being on Mars, I’d like to hear what it is,” he said.
3. The age delusion
The final problem Hoffman talked about was the “age delusion.” He thinks the advertising industry is far too concerned with grabbing young people’s attention, when, in reality, the most lucrative market is the over 50s.
“You know all the awesome millennials we see in car ads? In the US, people aged 75 to dead buy six times as many new cars as people aged 16 to 24.” He asked: “Do you really think it’s a good idea to avoid these people?”
While those over 50s tend to have much more spare money to spend than their sons and daughters, proportionally very little of ad firm’s budgets are targeted at the older generation.
Hoffman said: “According to [research company] Nielsen, people over 50 are the most valuable people in the history of marketing. In the US they are responsible for 50% of all consumer spending.” He added: “People over 50 control about 70% of the wealth of the US … And yet people over 50 are the target of 10% of marketing activity in the US.”
After selling his firm three years ago, Hoffman admits he started to have more time, so he looked into whether there was a good reason for the massive focus on young people.
After finishing this research, he explained his results: “I’ve come to believe that most marketers target young people because they see everyone else doing it. And they assume that somewhere someone must know why we are doing this.”
Hoffman ended his presentation with the message: “The marketing industry has been spending too much time on another planet. We need to get back down to earth.”Read More
by | Mar 1, 2016 | 0 |
The long and winding road to success is a life-long journey. On this path, we have many habits and actions that help move us toward our vision of success. However, we also have habits and actions that hinder and hurt our chances of reaching the destination that we have in our heart, mind, and soul. To help you on your journey make sure that these five traps are avoided or at least mitigated: 1. Consumer debt The more debt payments you have, the more you need a paycheck. The need for more money coming in can keep you running a business you hate or sticking with a job after you have lost your passion. Consumer debt can kill dreams before they even start because the more that you stress about the financial piece, the less creative energy you have to build your dream. Keep consumer debt low or nonexistent to reach success faster. “When you get in debt you become a slave.” -Andrew Jackson 2. Unhealthy relationships Relationships either add to your energy level or rob from you. There is nothing more draining than unhealthy relationships. As Jim Rohn states, “You are the average of the five people you spend the most time with.” Make sure that this average serves you well. Be honest about which people you need to distance yourself from or remove from your life to reach success. 3. Lack of boundaries Worrying about concerns instead of responsibilities will sidetrack your success. Responsibilities are the things that you are responsible for. Concerns are things that may way on you but are not up to you. Without boundaries, you will spend much of your time and energy on things that are not up to you. Return to a life of proper boundaries and success while be much more attainable. 4. Poor health Improper health steals your confidence, robs your energy, and shortens your life. It can be tempting not to prioritize health but in doing so, you are making everything harder. Poor health can be changed but the longer you don’t prioritize your health the more negative consequences will happen. Keep health as your focus to help you mentally and physically on your way to a life of success in all areas. “To keep the body in good health is a duty… otherwise we shall not be able to keep our mind strong and clear.” – Buddha 5. Doubt Doubt kills so much of our success and whispers into our ears to not even start. You can end up wasting so much time worrying about your doubts that you never reach for the stars. Frozen in fear is what makes doubt so negative it puts you in inaction sitting on the sidelines and out of the game. Some level of doubt will always be there, but you must get in the habit of moving in spite of how you feel. Move to silence doubt and achieve success for you. The journey of success will not come easy, but it can be easier if you work at removing or reducing these five success robbing traps. Focused energy in time will lead to a life that you could never have pictured. What habits or traps have you had to change to reach your success?Read More
by | Feb 20, 2016 | 0 |
Anybody can be successful. But most people will never be successful. There’s tons of advice out there on how to become successful, but some of this advice may actually hold you back from accomplishing great things. There are myths surrounding success. It’s hard to be successful until some of these myths are debunked. There are many misconceptions people have about success. These ways of thinking are holding you back from doing what’s necessary to do something that matters. Here are five myths that are holding you back: 1. Talent doesn’t matter Of course it does. We’ve all heard sayings like, “hard work beats talent when talent doesn’t work hard.” That’s not always the case. If you’re five foot three it doesn’t matter how hard you work, you’re probably not going to play in the NBA. It’s important to discover your strengths. Focus on what you’re good at. Hard work will push you past people who don’t work as hard as you do, but only if it’s in an area you’re suited for. 2. You have to be humble You’re told to be humble and modest. You’re told not to draw attention to yourself because it makes you look arrogant. This form of humility is called outward humility. Most people are humble on the outside but selfish on the inside. On the outside they appear modest but on the inside they are selfish because they think they deserve more than what they have but they aren’t willing to work for it. They will complain and wish their circumstances will change but they aren’t willing to change themselves. Real humility comes from within. Inner humility comes from doing work. It comes from taking the time to learn and develop yourself. It comes from putting in the necessary hours and paying the price. If you’ve taken the time to improve yourself then you should be confident in your abilities. “Success comes to those who dedicate everything to their passion in life. To be successful, it is also very important to be humble and never let fame or money travel to your head.” – A. R. Rahman 3. Positive thinking = success There’s a documentary called “The Secret,” and the premise of it is that all you have to do is visualize the things you want and the universe will find a way to deliver them to you. Want a new car? Place a picture of that car on your wall and visualize having it and then BOOM, you’ll have a new car. Positive thinking is necessary, but it’s only powerful when combined with actual effort. Don’t be fooled into thinking that simply wanting success will make it a reality. Everybody wants success, but few people are willing to do the work it takes to be successful. 4. Knowledge is power Learning opens new doors for you. The statement “knowledge is power,” is almost correct. The application of knowledge is power. It’s great to read dozens of business books, but they can’t substitute for building a business in real life. If you want to be successful, take the knowledge you’ve gained and put it to practice. 5. Fear can be conquered You’ve been told that you have nothing to fear but fear itself. You’ve been told that you can will your way into feeling no fear. Fear never goes away, but you can learn to take action in the face of fear. You don’t necessarily defeat fear, but you work alongside it, letting it push you and keep you on your toes. “I’m not saying that everyone should swim with sharks, but sometimes you have to jump over your own shadow in order to learn something that you will never forget for the rest of your life. Then you know you can conquer your fears.” – Heidi Klum What are you going to do today to inch your way closer to successes? Don’t let the myths surrounding success hold you back from living the life of your dreams. Feel the fear and take action. Use your knowledge to start taking the necessary steps to reach your goals. Build a life around your talents and strengths and have the confidence to shine brightly because you know who you are, what you want, and where you’re going. Which myth is holding you back? Please leave your thoughts in the comment section below!Read More
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