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There’s something called the advertisers dilemma (akin to the prisoners dilemma) for a reason- game theory suggests advertising has become de facto necessary on
by treyfitty 7y ago
There’s something called the advertisers dilemma (akin to the prisoners dilemma) for a reason- game theory suggests advertising has become de facto necessary only because other parties do it. In other words, small businesses would choose NOT to advertise if they all cooperated and chose not to.
And I owned a restaurant. Restaurants, by and large, do not advertise on Google Search. If they do, it’s a small fraction of their ad spend. There are many ways to get the message across, like actually being good and having a connection with recurring customers.
- 3pt14159 7y agoSo many things in the economy have turned into arms races. Property prices, advertising spending, education spending, status symbols. If we could somehow get out of it we'd have fewer $100m pieces of artwork and a lot more housing and free time.
- summerlight 7y ago> There are many ways to get the message across, like actually being good and having a connection with recurring customers. The situation is pretty novel since there are significantly less options for offline interaction available this time. I don't think local businesses can cover most of the loss only with recurring customers this time.