Wednesday, January 02, 2008

A Nod to Gaping Void

OK - I've been really bad in updating the blog over the past month. I wish I could say that my new years resolution was to update the blog more frequently but let's be honest, I'll get it done when time permits.

I wanted to draw your attention to an article over on Gaping Void called "why the "social object" is the future of marketing". I suggest you read it if you're in any doubt as to why the face of media is changing. As always, Hugh is on the ball with his comments - i love the quote "The bad news is, most products are boring. The good news is, most word-of-mouth is boring".

The one thing that I think Hugh has missed is the economics of advertising - in other words, one thread of the argument is that media became too expensive to execute whereas the opposite should be (and probably is) happening. Media costs are falling - especially in real terms. Furthermore production costs (the real barrier to entry) can be almost negligible. With Google on the horizon for mass media, the barriers to entry are falling further and further so that "mom and pop" shops aren't that far away from being able to advertise on TV or in National Press titles (but only the local edition).

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