$25 billion worth of media reviews has been announced in the last few months. So is this a statistical anomaly, or a sign that after 20 years of endless talk about change, clients are finally
making demands that agencies do so?
I think it’s a welcome sign that clients are demanding more. Internet anthropologist Clay Shirky famously observed that “Most institutions will
preserve problems to which they are the solution.” I think for years, while media agencies have talked endlessly of change, they have done as little changing as possible. The status quo &
dragging of feet served them too well.
Buying media is way too profitable to give up, while solving client problems is way harder.
I believe we’ve never faced a greater disconnect
between the scale and complexity of the problems that our clients face and advertising agencies’ ambition, thirst and willingness to change.
Cannes will soon celebrate our
industry’s love of one-off vending machines, drone deliveries, hashtags, 3D printed junkets, and experiential gimmicks. We will showcase agencies having fun with the toys, while our clients
worry about so much — from totally transformed consumer behavior to a bewildering array of new channels to, perhaps, their whole business being disintermediated or eaten by a startup.
Here are some of the themes and issues I hear most commonly:
A move to digital and mobile. Pretty much every client is aware that while we may watch more TV than ever and
consume more news, we’re doing it on more-connected, more-mobile devices. This gives rise to massive challenges. Common questions include, should I move my money totally online? How do I make
the most of mobile? How can I build my brand online? All questions many media agencies and strategists just don’t have good answers to. The rise of programmatic also raises interesting questions
about structure: How do we place buying teams at the heart of, not separate from, media planning teams?
The pace of change. The trends we used to see on the far horizon
— a shift to mobile viewing, the decline of TV, emerging platforms — are happening faster than we ever predicted. It’s a time when SnapChat can double user numbers in the same time
that apps like Ello can go from Facebook killer to distant memory. Clients want to know what’s next, what is dead, what is changing, what isn’t, and how can they try and learn?
Agencies need to keep their finger on the pulse and be extra-agile and ready to change.
Measurement. We’re all aware of Big Data, but we’re not quite sure how
it’s different from what we used to simply call “data.” Clients more than ever need to find actionable insights from data — and to do this, they need better data
analysis, but above all else, they need to know what to measure and what metrics actually matter. Clients need help beyond what most agencies are designed to provide.
Fragmentation and
attention. Attention spans are dwindling, second- and third-screening is rife, media consumption becomes glances while multitasking. Is the solution more interruption or more engagement? Can
hashtags ever take off? Is native the solution? What can content marketing really do for me? Faced with fragmentation and dwindling attention, we know that content can be a solution. We need
media agencies that are more adept at content and aligned to video distribution, not just TV buying.
What’s next? Clients need media agencies to move their focal point
further into the future, to go from being agile to anticipatory, to blend media, creative and technology together — to move from the act of buying media to solving business problems. They need
people who can understand wearables, put mobile coupons in place, understand a whole new world of platforms — and how addressable TV will change things.
Change. The
change to digital media has caused structure issues in the entire world of advertising. We’re arranged around channels in a world where the Internet makes them irrelevant. We’re spending
more and more time in places demonstrably harder to connect.
Now I’d like to think that the agency where I work has made the changes, and is agile, future-thinking, and entrepreneurial,
working as a village to bring media and creative together, placing digital and programmatic at the head and bringing mobile, technology and ideas together.
So the question becomes, what has
your agency done to solve the problems of today and tomorrow?