Back in April, I'd written about the really slow movement of brand ad dollars online. Advertising Age just ran an article diving into some of the points I'd raised, and they're worth exploring again. There are a few choice quotes from Ad Age that I felt compelled to mention here:
The inconvenient truth is that for all its new-media spin, display advertising is "old" media -- a commercial message to be placed next to editorial or entertainment content.
part of why large companies such as P&G spend so little on the web is because of the feedback they get from the marketing-mix models they still use to determine media outlays: TV and other old media still work. (P&G increased its magazine budget by 7% last year.)
For all its glory, the internet still has not proven itself capable of being a primary branding medium. Most ads online are response-based and work best for brand marketers when they complement a branding campaign in other media.
"The biggest gating factor to internet ad growth is the obsession of the players, the [venture capitalists] and the press with 'bottom of the funnel' marketing in a world where the big money is spent at the top," said Rob Norman, CEO of Group M Interaction. [OUCH!]