Advertising has always had a murky side, as well as a lame mystique. P.T. From P.T. Madison Avenue’s wit and wisdom may be a plus, but the economic cycle had a far greater impact on ad spending. It was remarkable that companies accepted the medium. The Atlantic, an American magazine, stated that 75% of ads did not pay. However, 25% paid so well that “there is scarcely any businessman who is willing to stand by idly.”
The digital age should make guesswork obsolete. The targeting of individuals has become a more sophisticated and precise task thanks to the use of user ids, device tracking technology, and electronic marketplaces that process billions of transactions per day. Online businesses have transformed digital ads into the Yellow Pages of steroids, as they have cut down on costs. Advertisers have more options to seduce people who spend more time staring at screens. It has led to a remarkable growth. MoffettNathanson research says that digital ads have increased from 27% to 52% of all American advertising dollars in 2015 to 52%. Television, which is the second largest category, has fallen from 42% down to 33%. The main question on Wall Street wasn’t whether or not the feast would continue, but when the digital share would reach 80 percent.
The website was launched four years after Abbott’s untimely death. It brings Abbott’s thoughts, insights and thoughts back to life. In each clip, he’s charming and articulate–reminding us of the power of great advertising. He shares his favorite pieces of work with us and how he sold them. He discusses the agencies he created and explains why he believes awards are important. Abbott’s work is full of them. So I thought I would share some of my favorites.
Abbott created a simple poster inspired by the magazine’s red masthead. It was charming, amusing, and intelligent. The poster summarized The Economist brand without visuals, a tagline, or body copy. Abbott explained that the slogan’read this and succeed’, which is potentially a boring positioning line, was made more appealing and convincing through wit and charm. Things that you cannot say in a literal way can often be stated laterally.” This campaign’s tone was set by the simplicity, wit and charm of the campaign.
In the late 1980s, smartphones were known as Filofaxes. A British advertising agency was awarded an account for a weekly business-focused current affairs magazine. The agency was Abbott Mead Vickers BBDO. The magazine was The Economist. The ads that came from the agency were part of a campaign called ‘White out of Red. They became the watchwords of witty advertising in a matter of years: playful, sophisticated, arch. They were also very effective. Between 1988 and 2001, the magazine’s circulation grew 64% against a 20% decline in the market, and subscriptions nearly doubled. They not only helped propel the magazine to greater heights, but they also made the ads famous: they are still widely reproduced in books and blogs to this day.