A funny-looking press release landed in my inbox this month which told me that the advertising of new technology should not occur. So many questions. So, so many.
The report, by a professor and three colleagues from the UCL School of Management, decided that actively advertising new products can ‘actually hurt sales revenue.’
Have I found a new form of dialetheism? Or are statements like these, proof that capitalism is on its last legs and we should just all give up trying to innovate, and instead all live on a wind and solar farm and grow vegetables together?
Shelve the marketing plan
That phrase in full: ‘actively advertising new products can actually hurt sales revenue.’
So that’s it then. If businesses shouldn’t advertise, all they can do is wait for customers to telepathically know that a new product is out. It then can wait for them to buy it without business doing anything. Easy.
The researcher’s main reason for coming to this conclusion is that consumers experience anxiety and nervousness before buying a new tech product because they have a fear of learning new technologies and/or don’t want their habits disrupted.
However, these nervous people, with all due respect, sound like conservatives who normally buy into a tech product once they see friends and family using it, its price has significantly dropped since launch and it’s been given a best buy from their bible Which?
Bin the billboards
Overall ad spend is on the rise, but cinema, magazine, out of home and TV ads are falling, with digital and internet spend soaring, according to the Advertising Association and Warc.
For my money, I really can’t see companies’ advertising to explain their product features and benefits anytime soon.