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Business English Exercise: Internet Advertising

Level C1 - Advanced - American English

Jeffrey Cole talks about the importance of advertising on the internet. Practise and improve your business on the internet vocabulary by listening to Jeffrey and filling in the missing words.

 

Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble.
Every generation since the Greeks have felt that things have never changed so fast. They've never witnessed such blinding . The difference is this time it may be true. And we anticipate even more powerful changes in the next ten years up to 2020. To really understand how the Internet is going to change our lives in the future, we can look briefly at what it's done to this point. The Internet, even though it's technically forty years old, for the way most of us are using the Internet it's about fifteen. And the majority of the billion users around the world have been on less than that. And already what we've seen is on a level never anticipated. What caught us off guard are the things we never could have anticipated. User content, that literally everyone of the billion and more people who are online could become publishers. To paraphrase Andy Warhol, Internet users don't care anymore about fifteen minutes of fame, what they're interested in is fifteen megabytes of fame.
We think advertising is really essential to the support of digital . There's only three ways to acquire content: you can steal it, and even those who steal it acknowledge that it's not a very good business ; you can pay fees or ; or you can get it accompanied by advertising. And we believe that most digital , at least in the next five to eight years, if it's going to survive, it's going to be through advertising.
You know, one of the things we've seen since the early days of television, is people talk about how much they don't like advertising. And yet when you ask them if they're willing to pay fees or to avoid that advertising, they're not. So we really believe with all of the digital that's out there, that people will prefer advertising to fees. And then when you add to that the ability of digital to advertising, to know, within the constraints and appropriateness of privacy, a little bit about you. And to be able to direct to you that are relevant, that are based on things that you're interested in, makes advertising potentially even more appealing.
You can actually, literally direct, if there's four sets in the house and four different people watching it, a different to each set in the house based on who's watching it. The most famous quote in the history of advertising, it's almost a cliche now, is the quote from John Wanamaker who said that we know that half our advertising is wasted, we just don't know which half. What targetability allows is for you to know which half and to only target your , not to the half but to the five percent, ten percent, twenty percent who are really interested in what you have to say.
I don't think everything is going to be free. I think a lot of things are going to be free with advertisers' support. But I think there's going to be some content that is so uniquely valuable that people will be willing to pay for it. So I...and what we're looking at is what is that content? Highly proprietary financial information seems to be one thing people will pay for. Intelligence, information that's not available to the general public people will pay for. Lots of things will be free. Free is a good business . But ultimately, I don't think everything is free.