They should know how to invest money, right? Bank of America doubling advertising spending on digital platforms with goal to create stronger and more personal connection with consumers. In other words, they will use increase use of social media and move away from traditional advertising in TV and print.
Head of Marketing Claire Huang said "We're not abandoning any of those forms of media, but we're realizing that digital not only allows you to provide information, you can have real, live connections. It's not just a flat little square box you have two seconds to look at."
Focus of their digital campaign will be creating digital content, not only advertising in digital media. "Traditional advertising of digital like search and banner ads has shrunk a little bit," Ms. Huang continues. "We're actually making our own content because we have the content experts."
Bank of America already producing podcasts and it will continue to act as digital publisher, together with their partner AOL. Blogs, webcasts, twitter and other social media tool will give them quick and more engaging connection to targeted consumers.
As I always pointed out – traditional forms of advertising will fade, even in digital media. Advertisers will become publishers. And social media allow them to do publish content in previously unmatched manner – quickly and efficiently reaching thousands of consumers.
Great move from Bank of America. Can we now expect their iPad application?
I agree to what you said
I agree to what you said here, however, I still think traditional media won't die, like TV still gain traction in many different ways. just how to maximize the usage of media combination for the good of brands is the most crucial. spend the money wisely, it is.
David
Hi David TV won't die, but it
Hi David
TV won't die, but it will be transformed by the Internet too. Just as other industries. Average LCD TV today have access to internet. Most of laptops have TV card. Boxee and other internet TV services storming ahead. In the next couple of years we will see merging of TV with Internet. That's why Google have stake in T business. And when things merge, TV ads will change too. They will become more interactive and on the press of one button on our remote we will be able to add brands to our facebook account, like content or follow their tweets. Advertising on TV will become personal too. Currently online advertising is the best value, and reach consumer in more personal way. TV won't die, but it will change.
Pick up your iPad and read your favourite magazine on it. Add comments. Customise pages and your experience. Get involved in forums and polls. Add your notes and watch videos. Spin products in ads. Recommend some good product to your friends on Facebook. Decide to follow that awesome article author on tweeter. Than go back to paper version. Doesn't fit anymore with your life. Right?
Internet changed our needs and there is no way back. We need more. Advertisers need more. Watch for that those buttons on your remote - 'Like on Facebook', 'follow on Twitter', 'Share with friends'. They are coming...
Kind regards
Dean
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