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
Now “it’s time to invest our brainpower into an ecosystem that builds in quality, civility, transparency, privacy and control from the very start, P&G will steer dollars toward players that moderate comments, and link opinions to identities" -Marc Pritchard Proctor and Gamble CMO