(1:06) A few months ago I wrote a Minute entitled "Embrace Failure" - you can find it on my blog:
(1:02) My point was that true innovators are not afraid to face failure on their way to success. But there is a difference between failing, learning, and trying again, and simply failing. Much of what I write about in the Minute is the new order brought about by technology, the internet, and the new ways we interact and seek information. If you've followed the Minute for some time then you should know I am not a fan of online banner ads. I don't believe they work because your customers just ignore them.
(0:50) Well, it seems that banner ads are even more destructive than I thought. Last week the University of Michigan released its annual American Customer Satisfaction Index (ACSI) E-Business Report which stated customer satisfaction with social media sites and search engines has fallen to its lowest level since 2003. They placed part of the blame on online advertising.
(0:42) Data was compiled from interviews with 70,000 consumers to determine their satisfaction with 230 companies across 43 different industries. 22% sited online ads as what they least liked about the sites. 3 out of 5 stated they do not pay attention to online ads and 1 in 5 said the ads actually interfere with their experience. Ask yourself how you like banner ads jumping out on the websites you visit. How many have you clicked on? Have you ever made a purchase decision based on them?
(0:32) If you are still spending your valuable marketing dollars on online banner ads, now is the time to reconsider those actions. Stop being merely ignored or, worse yet, viewed as an irritating distraction. Think back to the series on ZMOT I began last July. Become part of the content as a resource and give boaters what they are looking for - the information they need to make sound decisions. This will gain a boater's attention.
(0:19) I think it was said best by Kim Kadlec, worldwide vice president of Global Marketing Group for Johnson & Johnson:
(0:15) "We're entering an era of reciprocity. We now have to engage people in a way that's useful or helpful to their lives. The consumer is looking to satisfy their needs, and we have to be there to help them with that. To put it another way: How can we exchange value instead of just sending a message?"
(0:06) It's clear that online banners ads are not fulfilling that need. Think about how you can add value instead and win customers.
(0:02) And that's the marina minute.