Taking a granular approach to all elements of digital advertising, from calculating user values to testing ad effectiveness, can help all of us unleash the potential of the app economy.
It has long been accepted that we create stories to cognitively process and order our experiences, gain perspective and to structure the world. People use stories to understand who they are as individuals and as members of society. The importance of narrative as a communication tool is undisputed.
Consumers also interpret their exposure and experience with brands via narrative thought processes. For example, if you ask someone ‘why did you buy a Volkswagon?’ you might get a personal story of how the purchase fits with their needs or prior experiences “I had a Civic before, but with two kids now, I did some research and feel a VW is the safest car in its class; it’s the smart choice.”
Advertising has long been (implicitly) aware of the power of storytelling. Some adverts tell complete stories, some continuing stories, like the famous 1980’s Nescafe Gold Blend couple (voted most romantic advert of all time in the UK), while others encourage self-generated narratives by evoking simulations of product use. Consumers then overlay these stories onto existing narrative structures and connections are made.
But as we shift to the new model of digital media, are we losing the opportunity to tell stories?
In Matt Spangler’s series ‘The... Read more
Almost 21 Questions for Jeff Ma, of MIT card counting, Bringing Down the House, 21, and Citizen Sports Infamy
My good friend, Jeff Ma is co-founder of Citizen Sports and part of the famed MIT card counting group whose story was told in the book "Bringing Down the House" and the movie 21. He has been the technology lead for two internet startups and was an options trader on the Chicago Board of Options Exchange. I grabbed the opportunity to pick his brain on sports, consumer behavior, marketing, and more...
1) Now that everyone’s in March Madness mode – first things first, we’ve already seen W. Kentucky upset Illinois – tell us your next two upsets! There aren’t many upsets left to be had out there but I think Gonzaga could beat UNC. They have almost as much talent as the Heels and with Lawson less than 100% who knows. I actually think Arizona could give Louisville some trouble. They have NBA talent at three positions and Louisville has been prone to some lapses.
2) I’m all about mobile, you’re all about sports – what do you see as the big opportunity for sports brands in the mobile universe? Brands need to go where people are spending their time and clearly sports fans are all over mobile. Reaching the consumer when... Read more