I sat in on the “IAB Internet Advertising Revenue Year End 2008” briefing this AM. It was a good high-level check-in on the state of the market and I particularly enjoyed the commentary by Professor Peter Fader of Wharton. To paraphrase some of his comments:
Because you can see immediate payoffs from performance-based advertising, it gives you comfort. But that doesn’t mean you’re not getting good payoffs on brand-building or other less direct forms of marketing. Companies should not overly focus on the short-term. The impact of advertising is slow and cumulative, with brand effects show up over the long term. Even attaching electrodes to peoples brains isn’t going to change this, so marketers need to be patient and incorporate longer-term thinking.
Similar to my comments in this byline and good advice for sure.