• by January 27, 2005

J. WALTER MAKEOVER - There are two kinds of people in this world. Those that use "Thompson" and those that use "JWT" when referring to the world's oldest, still operating advertising agency. Given the inescapable trend on Madison Avenue these days, it was inevitable that that too would be consolidated, especially if you happen to be one of Sir Martin Sorrell's shops. So effective today, you can scrap the formal "J. Walter Thompson," or even the more colloquial "Thompson" and simply use "JWT."

Aside from making the life of ad trade headline writers that much easier, Thompson, er JWT chief Bob Jeffrey said there is compelling logic behind the 140-year-old agency's identify makeover: it was the most succinct and recognized choice. And just to prove that the change isn't simply a cosmetic one, Jeffrey also unveiled a complete overhaul of the agency's approach to advertising. "Time is the new currency," he explained. "Our job is to ensure that more people spend more time with our clients' brands. We need to create ideas that people want to spend more time with. The better the idea the more time people will spend with it."

Interesting approach. And interesting choice for rebranding its own corporate identity: choosing a name that's quicker to pronounce and therefore requires people to spend less time with. Two less syllables of time to be precise.

But what do we know? These JWTers were stewarding brands when we were still in diapers. Heck, they were stewarding brands when our grandparents were still in diapers. Hence, from today onward, Real Media Riffs will formally be known as RMR. But you can still call us the Riff.

Meanwhile, we're intrigued by JWT's new manifesto, but we're not sure exactly what it is. We get the time as "currency" thing - heck Jeffrey's colleagues at MindShare could've told him that one - but we're not sure what he means when he says, "The ultimate goal of these efforts is to transform JWT from a service-driven organization that is ruled by the rational to a creative organism that is inspired by the visceral." Yuck! Does he really speak that way?

Actually, the really interesting part of JWT's corporate epiphany came not from CEO Jeffrey by from JWT New York President Rosemarie Ryan, who helped unveil the new vision to the agency's management team during a meeting today in Miami.

Asserting that the JWT troops need to "abandon an outdated, imposition-based model in today's consumer-controlled, attention-deficit world," Ryan noted that the shop's new thinking would represent "a shift from quantity time to quality time."

And how exactly will JWT pull that one off? By creating "participatory advertising that engages consumers rather than interrupts them, the result will be consumers who spend more time with our clients' brands and our ideas." Okay, you've got our attention. Now show us what you can do.