Advertising is Obsolete?

This article came through the New York Times this week and it states that advertising is dead and only word of mouth marketing is of any value.

I love blanket statements like this.

http://www.nytimes.com/2006/01/23/business/media/23adco.html?_r=1

This is absurd and true at the same time. Advertising in the traditional sense of the word has become less and less effective, which is why we are discussing a move towards engagement. Engaging a customer in a dialogue is effective; much more effective than any form of advertising.

Word of Mouth is ALWAYS the most effective because it is engagement from one consumer to another. User Generated Content is EFFECTIVE BECAUSE IT IS THE SAME THING.

If one user generates a statement about a brand, then another user of a similar mindset is bount to pay attention to it, hence it being more effective.

Read the article and form your own opinions, but know that the contradiction is what saves our industry in the first place.