Is it ego or efficiency that drives corporate advertising?
- 22nd March 2020
- Anyone who has recently been through an airport may have noticed the very expensive B2B ads being displayed. And you may wonder what do the advertisers get out of it?
- I believe many business travellers are like me – you optimize your time at the airport and arrives at the gate as close to boarding time as possible.
- So how much of all that expensive advertising do you see, recognize and remember? Probably not a lot, and I would argue that most corporate advertising both in airports and in business magazines have a very high wastage. So whether the advertising can be justified for other reasons like internal marketing, recruitment or egos I can’t tell, but I do know that there is an alternative.
- With account based advertising (ABA) you can direct your spend at the companies that are on your target list (be it customers or prospects). If you do it intelligently you can even target senior decision makers and influencers working for these companies. In this way, corporate advertising will have a direct effect on your company’s pipeline.
- One of the most famous quotes from Lord Leverhulme, the founder of Unilever, is “Half the money I spend on advertising is wasted, and the trouble is I don’t know which half”.
- With most money going into digital, accountability and insights have improved a lot since the days of Leverhulme. And now it’s possible to be even more precise in targeting the right accounts. With Intent Based Advertising (IBA) it is possible to advertise to individuals actively reading media articles around specific topics or keywords that are relevant for your company. It effectively targets only individuals within key accounts with very specific content consumption behaviour. Here it is not about the reach of a large group of decision makers (which you may hope for at the airport) but about precision in targeting people actively interested in topics of your choice.
- If you don’t want to waste money on airport advertising there is even a third way: programmatic look-a-like targeting. Basically, you take the digital DNA of your current customers and through our DMP you are able to target the right persons working for the right companies. A great way to expand your target audience.
- So what will drive the future of corporate advertising; ego or efficiency? I believe the latter. The platforms are certainly available and the results are great. See you at the airport.
Is there a more fitting description for Account-Based Marketing?