Brands everywhere are frantically trying to reach people by spending billions on digital ads towards consumers. We now live in a world where brands have created a large social presence where people are eager to participate with brands. However, brands are still talking AT their audience and not WITH them.
- Advertising/social media platforms control the brands' digital ad spending
- Social media platforms know the amounts brands are willing to spend to reach their target audience and capitalize on it
- The increasing cost of reach to the audience
- Difficult to value engagement, are people actually interested in the brand?
- Brands want to connect with their communities but 96% of people do not trust ads. Meanwhile, social ad spending has grown by 12% per year to US$229.50 billion in 2022.
- While 80% of companies believe they deliver “super customer experiences,” only 8% of people agree.
- People feel disconnected from brands and disconnection can impact their willingness to support a brand in the short/long term.
Lack of transparency
- Platforms' objectives conflict with the users' objectives
- Platforms' objectives conflict with the brands' objectives