This article in Advertising Age really demonstrates one of my favorite terms – corporate inertia. Nothing new in the concept of corporate inertia – just lots of people with a slow rate of change. Organizations that can adapt quickly to change, win.
This article shows the corporate inertia in the advertising industry. As a podcaster, I “know” there is an incredible relationship that is fostered between the podcaster and the consumer. The strength of this relationship is real, but hasn’t be measured, yet. Advertisers are using the metrics they know. Exposure, Eyeballs,… Advertisers are buying “exposure to” consumers not the “relationship with” the consumer. I do think this will change as the strength of the new media – podcasting relationship will be measured and fed back to the advertisers. The ADM – Association of Downloadable Media is working on this. I’m also sure PodShow, Podango, and Wizzard Media are all gathering their facts and figures to change the opinions of the advertising world.
If a conventional advertising conversion rate of 2% could be upped to 5% through the relationship strength of a podcast, I see huge advertising money moving into the new media arena. That’s why I’m playing in this sandbox.