Feb 7, 2023
Sometimes... A flower is just a weed
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Sometimes... A flower is just a weed
What Are the Hottest Trends in Digital Advertising? [CONVO]
Stephanie Grayson and I discuss some of our key takeaways from the Ad Age Digital conference in New York in April, 2012. We take a deep dive into storytelling; the ubiquitousness of branded content; the implications of ready access for advertising data; and how at least one big brand may have lost its way. http://seb.tl/JdvvPp #domainnames
Yesterday was my lucky day as I won a contest on Twitter to attend the AdAge Digital conference in NYC in early April. This is a very expensive contest with many excellent speakers so to win is a pretty big deal.
To win, one had to post a question to one of the many featured speakers, and include appropriate hashtag information - they're picking one winning entry each week until the conference.
My question was for Drew Panayiotou, Best Buy SVP: "I love the insight behind the 'buy back' idea. Has it been an effective strategy?"
I really do love the insight behind the Best Buy program. It builds on the frustration of waiting until the latest and greatest technology comes out only to learn that an even better version is coming out in a week (and you can't return the gadget you just bought.) Their heavily aired commercial is well done and truly captures the frustration. What I want to hear is Drew's take on the effectiveness of the idea which is billed as "future proofing" your investment...like insurance for new technology. Are people buying the $59.99 price tag to make sure you can trade in your "not so old" gadget for some money to buy the latest and greatest version of the same gadget? What feedback are they getting?
Harvard Business Review did an excellent blog entry that describes the Best Buy program in detail. The author, Joshua Gans, likes the idea, but does not come out positive based on the math of the program. Read it here yourself:http://blogs.hbr.org/cs/2011/03/in_june_2010_i_queued.html
Can't wait to hear Drew's response in April.