The Future of Advertising
Advertising Age recently ran two very interesting and insightful articles about the current and future state of advertising. It’s that time of the year.
In Part One, I offer my take on what I think are the most salient points in The Industry Speaks: 2016’s Top Priorities that delivered a range of industry leader perspectives on issues and opportunities. I’ve edited the original copy and briefly discuss what it means for you Ms. Advertising Agency CEO.
Part Two comes later this week. I’m feeling too cluttered right now.
One big takeaway… clutter. Advertising clutter, technology clutter, social clutter, content clutter, SEM clutter, even personal blog clutter and on.
Article 1: The Industry Speaks: 2016’s Top Priorities
“What’s the No. 1 issue that the overall marketing and advertising industry needs to deal with in 2016? Advertising Age surveyed executives from throughout the business, and heard a surprising range of answers.
Jeff Charney, CMO, Progressive
Everyone’s so concerned about ad blocking and time shifting, but we see a very different threat. Everybody is flooding the web with their own content, hour-by-hour, minute-by-minute. We’re not just competing with our top competitors, or even other brands outside of our category, we’re competing with people’s friends, mothers and self-made celebrities on YouTube, Facebook, Twitter, etc. And it’s just getting started.
PL: Yes!!! So much stuff. So much competition for your eyeball and ear. I am currently advising an L.A. based fashion agency and have been digging into fashion and luxury marketing trends. The fashion and cosmetics marketing world has shifted. For example, Revlon’s mindshare competition is now coming from personal tastemaker sites like The Blonde Salad — not L’Oreal and it’s Vogue ads. That was Revlon’s old school competition. But, cosmetics buyers attention is now whipped snapped by dozens of new eyeball options.
Martin Sorrell, CEO, WPP
So number one on the agenda is encouraging companies to take a longer-term, less risk-averse view of the world, predicated on the fundamental truth that marketing is an investment not a cost.
It’s clear from BrandZ analysis that investing in brands works. In the last 10 years, a measurement of the strongest brands from the BrandZ Top 100 as a stock portfolio shows their share price has risen over three times more than the MSCI World Index and almost two thirds more than the S&P500.
PL: Ah, the old argument. Advertising spend is a long term “investment.” OK, yeah, we’ve heard this before. But, Sir Martin backs it up with some facts.
Lori Senecal, global CEO, CP&B
Convention won’t challenge itself. As an industry, we need to help marketers really take control of the technology solutions that unlock opportunities to offer consumers truly inventive, additive, and welcome experiences. But clients, agencies, and consumers will only benefit – and our industry will only thrive – if together with CMOs we can control the necessary technology from start to finish.
PL: A nice wish. Will agencies control the technology food chain? No. Will some savvy agencies build their own technology? Sure. but, the agency world will not be in control.
Maurice Levy, chairman and CEO, Publicis Groupe
Mobile and data.
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