What's wrong with the advertising biz…

…and how StepRep is going to fix it.

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You might have noticed that things haven’t been going too wonderfully lately for what we call the “traditional media”. Newspapers are shuttering. Phone books are struggling to sell ad space. Revenues are down for radio and TV stations too.

It’s not just the economy. Technology has also altered advertisers’ expectations. The internet has trained us to expect space-age service – one-click purchase! Free delivery! Track your package from a factory in Shenzhen right to your doorstep! Is it any wonder advertisers are abandoning the traditional media for online platforms that promise to emulate the ease and sexiness of Amazon or eBay?

But despite the superficial allure, online media present many of the same drawbacks as traditional media – plus they add new challenges, such as bad reviews from anonymous grouches that can pop up again and again when people search for your business.

Traditional Advertising Online Advertising
Publishing Cycle If you want to revise your ad, you’re out of luck until the next issue comes out. You can change your promotional messaging on the fly.
Price You’re paying not just for the ad, but for the guy who sold you the ad, and all the infrastructure to support it. Infrastructure costs are low, which keeps prices down.
Credibility There’s no way for customers to distinguish reputable businesses. If anything, the credibility of online ads is even lower.
Financial Risk You pay upfront. Maybe the ad brings in extra business, maybe not. Pay-per-click – but does a click equal a sale?
Measurable Results No way to tell how many people have looked at your ad. Generate more statistics than you can possibly use.
Customer Engagement Well, you can always put a toll-free number at the bottom of your ad… People can vent about your services, for good or bad.

So how do we make it better?

By bringing in social context. We trust our friends to steer us toward reliable services and away from frauds. Only, until now there has been no way to see at a glance which services our friends trust.

By allowing interaction. By engaging in back-and-forth communication with potential customers, experts can build up a record of trustworthiness.

By creating a transparent reward system. Instead of paying upfront for an ad, businesses pay only when they make a sale. The reward is split between the customer and the person who recommended or endorsed the expert. This dual reward gives customers an incentive to try out new businesses, and to refer their friends to businesses that they trust.

It’s totally free and there’s nothing to lose. Give StepRep a try!

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