Google Print Ads closed down – the only surprise? It isn’t a surprise.
Inside Google reports on the failure this week of the potentially exciting Goole Print Advertising scheme.
Google bought up ad space in a variety of publications at bulk prices, then auctioned them off to the highest bidders.
In one instance, $177,000 of ad space sold for $4,000…how can that ad up?!!
In principle, it is a great idea…limit supply by buying up space, then force prices higher by actioning it all off to the highest bidder(s).
IG suggests that they should wait until the marklet is more comfortable with buying this way, but to be honest I am not sure if it ever will.
Here is why:
1) Schedule – Planners have a responsibility to their clients to know when an ad is going to be published. To find out you have not bid enough is too late to then fuind other vital space.
2) Price – with so much pressure from online media, print spend needs to be more carefully accounted for. To find out you have paid more for your spot on auction than you would have over the phone is criminal.
3) Tradition – rates are spots are improved over time with the development of the relationship between the agency (typically) and publication staff. Google does not allow for this and as a result, meaning flexible negotiations do not exist.
4) Creative limits – Your ad may be best run across a series of high-profile publications over several weeks, which involves a sequence of carefully planned creative executions as well as the knowledge that you will be in those publications. Budget changes, outbidding means much more than lost space.
It is without doubt a meritous scheme for one-off campaigns but I think the advertising industry is so (read: too) comfortable with the way it works at the moment that it is going to have to take an almighty leap of faith or improvement in the system for it to take off.