the epic disruption of the ad business (and everything else)

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authored-by Ken Auletta on 6/10/2019, 3:36:52 PM

references The Creation of the Media on 6/10/2019, 4:02:06 PM

references The Attention Merchants on 6/10/2019, 4:02:51 PM

references N. W. Ayer & Son on 6/10/2019, 4:04:10 PM

references Where the Suckers Moon on 6/10/2019, 4:07:01 PM

quote What you say in advertising is more important than how you say it on 6/10/2019, 4:08:30 PM

references Madison Avenue Manslaughter on 6/10/2019, 4:10:13 PM

cites Blood, Brains & Beer on 6/10/2019, 4:11:44 PM

references Confessions of an Advertising Man on 6/10/2019, 4:12:12 PM

references Michael Kassan on 6/10/2019, 4:13:39 PM

note Top advertising agencies WPP, Omnicom, Publicis, IPG on 6/10/2019, 4:25:19 PM

excerpt Paranoia about Facebook’s advertising intentions are ignited by several factors: by its size, by the walled garden it maintains when refusing to share much of its data, by the immense volume of data it gathers, and by fear that it aims to displace agencies. on 6/10/2019, 4:34:39 PM

excerpt Agencies were agitated that neither Facebook nor Google shared data with measurement umpires like comScore or Nielsen, which would have enabled an independent assessment of an ad’s effectiveness. on 6/10/2019, 4:36:21 PM

excerpt When Carolyn Everson joined Facebook in 2011, the company had about half a million advertisers. By March 2016, Sheryl Sandberg told an Advertising Week audience, three million “advertisers flocked to Facebook, a number that six months later zoomed to four million and soon, five million. Part of this extraordinary growth is a reflection of the expansion of the Facebook platform—the average Facebook user clicked on the site 150 times a day. And part is attributable to the company’s ceaseless efforts to develop new tools for advertisers to target clients, resources unavailable to an advertiser who spent $5 million in 2016 for a thirty-second Super Bowl ad and had to guess who watched it. on 6/10/2019, 4:40:46 PM

references GroupM on 6/10/2019, 4:50:36 PM

quote “The game,” Zuboff wrote, “is no longer about sending you a mail-order catalogue or even about targeting online advertising. The game is selling access to the real-time flow of your daily life—your reality—in order to directly influence and modify your behavior for profit. This is the gateway to a new universe of monetization opportunities: Restaurants who want to be your destination. Service vendors who want to fix your brake pads. Shops who will lure you like the fabled Sirens. on 6/10/2019, 4:56:11 PM

references Advertising, the Uneasy Persuasion on 6/10/2019, 5:04:49 PM

references Elliot Schrage on 6/10/2019, 5:04:57 PM

quote “We risk being the first people in history to have been able to make their illusions so vivid, so persuasive, so ‘realistic’ that they can live in them.” on 6/10/2019, 5:24:53 PM

excerpt “Unlike television, which has Nielsen to grade it, Hasker pointed out that Google and Facebook did not allow “independent third-party measurement.” on 6/10/2019, 5:30:29 PM

references T Brand Studio on 6/10/2019, 5:36:30 PM

excerpt The company they lusted after took time to attain altitude. Eric Roza, the CEO of Datalogix, started out by sweeping up sales data from catalogue companies. He says he assumed “that what people purchased in the past was an indicator of what they would purchase in the future.” He next went to grocery chains and their discount loyalty programs, collecting their data on what groceries their customers purchased. His big breakthrough came when Facebook contracted with Datalogix to learn whether ads on Facebook drove in-store sales. He induced Facebook to share what they would not with agencies—the names and e-mail addresses and information about its users—so he could match these individuals with those in the Datalogix database. “We could then say, these ten million people saw this ad and spent x dollars before the ad campaign and y dollars after the campaign. For the first time, the media impact on sales in terms of millions of people was done.” Facebook told advertisers they could prove what drove sales, and publicly praised Datalogix. The company, Roza says, demonstrated that what products people purchased before was a much more valuable predictor of future purchases than clicks, page views, time spent watching or reading an ad, or search data. on 6/10/2019, 5:41:09 PM

references Datalogix on 6/10/2019, 5:41:49 PM

excerpt Whittaker has argued that traditional advertising will become less relevant because when data is assembled the machines will “determine someone’s intent, not their interest,” as a search merely does. on 6/10/2019, 6:01:36 PM

quote “James Whittaker at Microsoft says, “In a world of data, you may not need ads.” Machines will determine the cheapest prices and take the guessing out of deciphering what the consumer wants. “Once you know the consumer’s intent, why do you need a creative ad?” on 6/10/2019, 6:10:45 PM

references Kevin P. Ryan on 6/10/2019, 6:15:39 PM

quote “Since “there are only two places an advertiser might want to buy ads, the fees paid to agencies . . . become a lot harder to justify." on 6/10/2019, 6:21:55 PM

cites The sponsor on 6/10/2019, 6:29:06 PM

cites Tube of plenty on 6/10/2019, 6:29:50 PM

cites The Visible Hand on 6/10/2019, 6:30:38 PM

cites Advertising in America on 6/10/2019, 6:31:27 PM

cites The History of an Advertising Agency on 6/10/2019, 6:31:50 PM

cites Whatever Happened to Madison Avenue? on 6/10/2019, 6:32:22 PM

cites The making of modern advertising on 6/10/2019, 6:32:57 PM

cites Technopoly on 6/10/2019, 6:33:28 PM

cites Strategy in advertising on 6/10/2019, 6:36:53 PM

review This book follows the wrong people. I could care less about Michael Kassan and MediaLink (which in my estimation, having read the book, is glorified a party planning service). Where is the meat? Where is the arc? The prose goes nowhere... slowly. I suppose this book deserves some credit for introducing some names and companies that I should look into further, but everytime I was interested by something in this book, it moved on without hesitation. There was no depth of understanding behind the quotations. on 6/10/2019, 6:45:30 PM