This week the Interactive Advertising Bureau is having its annual meeting. During his keynote, new IAB Chairman Vivek Shah came out with both guns blazing, telling media buyers to stop
devaluing digital media by allowing themselves to be defrauded because it looks good on paper. He went on to say: "We have taken a perfect product and by our own actions we have made it imperfect.
It's been a dirty secret we've been willing to keep. Bogus impressions won't infect the system if you don’t buy them, Mr. Agency Trading Desk ... You don’t go after drug dealers. You go
after people taking the drugs." Hmm. Looks like there may some housecleaning going on over the course of the next year or two.
Watch out, Boston ad agencies. Devito/Verdi is about to eat your lunch. The New York agency has quietly made significant inroads into the very insular Boston ad community. It scooped up Legal Sea Foods and then the Herb Chambers car dealer account because Chambers loved the Legal Sea Foods account so much. And just last fall, the agency nabbed a branding project for area health insurer Fallon Health. While Ellis Verdi says he didn't target Boston specifically, he is considering plans to open a Boston office. Watch your back, Boston.
There's something going on over at Ford's ad agency Team Detroit. According to COO Mark LaNeve, the agency is "becoming digital centric" but apparently, it's more than just a focus on digital media. LaNeve adds: "It's not an initiative or program, but an evolution bordering on a transformation of the agency." While that must sound like the usual fluff you hear from agency big wigs, in this case, the proof, as they say, is in the pudding. According to Advertising Age's 100 Leading National Advertisers, in 2011 Ford became the first automaker to spend more on unmeasured (search, online, social, digital, etc.) than it does on traditional media. Currently, the brand spends upwards of $1.2 billion on unmeasured media, and Team Detroit played a large part in that shift.
And so the NewFronts. That time when all things digital trot out their offerings to all things agency in hopes that the latter opens its wallet for the former. And any time you give a marketing
person a chance to get on stage and sell themselves, what you usually end up with is, well, something other than normal.
Today, it seems, DigitasLBi pulled out all the stops and went full on gospel. According to this tweet, it seems the agency has gone biblical.
So what was the epic craziness all about? The agency struck a deal with Vox Media that offers the agency a first look at Vox Media's native product, Chorus for Advertising. Ah ha! There's the gospel tie in. Now it all makes perfect sense.
Well, here's a newsflash. Production company Spotburner, which would rather you called it a full-service digital agency, has...wait for it...announced guaranteed turnaround time on premium content.
That's right. The production company...uh...digital agency will deliver its work to clients on time! Hold the phone! Stop the presses! A company promises to do what it says when it says it will do
This is unprecedented news in the advertising industry, let alone in any industry. I mean, this is unheard of! Never in all my years of selling crap to people who neither want it or need it have I ever come across a company that promised to deliver the goods by the promised due date.
Of the epic promise, Spotburner Founder Bob Bekain said, “I noticed a lot of unnecessary delays for the client while waiting for their content, so I created Spotburner as a means to provide premium content at a fair price, with a guaranteed turnaround time.”
My God! What's next? A company promising to buy clients lunch when they come to a midday presentation?
More than two-thirds, or 68%, of marketers and agency executives plan to increase their digital video ad budget spend over the next 12 months, according to the Digital Content NewFronts: Digital
Video Spend Study, a survey of 305 buy-side professionals conducted by Advertiser Perceptions and released today by the Interactive Advertising Bureau.
The buy-side expects greater digital video spend will come from increased ad budgets in 2015 and a shift away from broadcast and cable television. Two-thirds, or 67%, of survey respondents said that they anticipate their broadcast and cable TV ad budgets to stay the same or decrease in the next year.
The study also revealed that two-thirds of marketers and agency executives, or 67%, believe original digital video will become as important as original TV programming within the next 3 to 5 years.
In addition, 8 in 10 advertisers and agency executives who attended the 2014 NewFronts agree their participation resulted in more spending on original digital video content and motivated them to increase their 2015 budgets.
Of the study, IAB Senior VP of Research, Analytics and Measurement Sherill Mane said: “This study demonstrates unequivocally that digital video is a fierce competitor for advertising dollars. Brand advertisers and media buyers have been dramatically increasing their commitment to digital video, so all signs point up for this captivating form of storytelling as the industry rallies for the NewFronts.”
Ever since the advent of crowdsource-fueled creative entities like 99Designs, Freelancer and Fiver, design studios -- which previously buttered their bread with business from ad agencies -- are now
upping their game, cutting out the agency and going direct to the brand for business.
Of the trend, Design Business Council Head Greg Branson said: “A lot of the designers I work with have a strategy partner or a senior person in the business that does strategy. Many of them have been recruited by the designer out of the advertising industry, with the intention of taking their business to a higher level and offering a broader range of services."
While a design studio isn't going to take over the Coke account any time soon, shifts like this are on the rise. Interestingly, even before 99Designs and the like, Barbarian Group -- which prior to Subservient Chicken was a tech design studio of sorts -- transformed itself into a full-blown agency complete with all the usual agency services.
No, there won't be a weekly parade of design studios making it big like Barbarian did, but market conditions have changed significantly enough that we will continue to see more of this.