On Techcrunch, guest contributor Eric Clemons of the Wharton School at University of Pennsylvania has the kind of posting that feels every bit as threatening/breathtaking/frightening for advertising as one of those throw-out-the-presses posts would have for journalism.
Clemons believes the Internet is shattering the world of advertising, and that it will fail because it is not trusted, welcome or needed. He views the ad as passe and believes other models will emerge to monetize the Internet --- selling virtual things or selling access, for instance.
But he believes the liberation that comes from using the Internet for other services is applicable to advertising.
"The Internet is about freedom, and I suspect that a truly free population will not be held captive and forced to watch ads. We always knew that freedom comes at a price; perhaps the price of Internet freedom and the failure of ads will be paying a fair price for the content and the experience and the recommendations that we value."
Print and broadcast get away with selling on "impressions" because there is no concrete way to measure impact - unless a commission contract is created like in the selling of Time Life books and the greatest hits of Slim Whitman on cd.
Internet ads are built upon pay per click. Impressions are not considered as important.
The middle is appropriate.
Virgin Radio's website is covered in ads for Axe body spray. I have awareness for the brand and the ad despite never once having clicked on the banner.
That, truly, must be worth something to the advertiser. Yet, in the web model, that value is discounted and ignored.
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