For Bob Hoffman, believing that consumers want deep relationships with brands is simply fantasy.
During his talk at the Festival of Marketing, Bob Hoffman spoke loud and clear again on the advertising and marketing industry, always with the critical point of view that characterizes his reflections.
The mythical The Ad Contrarian assured that skepticism is one of the qualities that must be overlapped with professionals in the industry. The expert is clear: being skeptical makes you a better marketer, as stated in this presentation collected by MarketingWeek.
For Hoffman, believing that consumers want deep relationships with brands is simply fantasy. “Most people are perfectly satisfied with having the most superficial of connections with us.”he pointed out, calling brand loyalty a myth born of consumer habits and convenience.
The industry therefore needs a good dose of reality. And, he recalled, despite the fact that a decade ago the opportunities offered by social networks and the digital universe to connect with the consumer augured a bright future, advertising is now “less effective”, in Hoffman’s words. So much so, that marketers have half the trust that is placed in lawyers, a figure to which countless numbers have contributed. controversies around data security and advertising fraud, which increased by 50% in 2020.
During his speech at this meeting, the expert spoke openly about the repercussions that this disconnection of the marketing industry with reality has had.
According to Hoffman, there is a clear line connecting ad technology and political radicalization and destabilization. “While the role of social media in generating unrest has been widely reported, there is a deeper gap that has been driven in part by the data and information collected by technology companies and the algorithms used to sell ad space. The content hooks more visitors and the recommendation tools go a long way to unite the extremists within one platform, “he explained.
The industry must be honest and acknowledge its responsibility, without hiding behind online platforms as the most responsible. “While these companies have been coming under pressure, the public has largely failed to recognize that it is for the sole benefit of the advertising and marketing industry that Facebook and others do their miserable work. We are the hidden hand that guides and finances these dangerous practices ”, he warned.
Likewise, he also criticized the industry obsession with younger audiences, leaving aside consumers over 50 who tend to spend more. “Walk into any media or marketing agency in the world and something immediately becomes obvious. Everybody is young. It is nothing more than narcissism disguised as strategy. We have allowed and sometimes forced talented people to leave, while replacing them with inexperienced people, “he said.
Finally, he addressed another big problem: the excessive focus on the data and the consequent loss of confidence in the creative process. “We prefer to invest in activities that produce charts and graphs that our clients can understand. Ideas and creativity are too ethereal. We can’t measure them, so we’ve devalued them, ”said Bob Hoffman.
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