What's the future of the ad exchange model? It's clear that ad exchanges and DMPs are the future of the media business, as media has become more and more of a commodity and data has become a requirement to add value -- but where are things headed?
We are all familiar with the old adage "less is more." Yet there is only a half-truth in that statement. The consumer journey has become more complex. The strategies that drive how we reach, engage, and influence the consumer are becoming more complex. The methods and systems that we use to plan, buy and optimize media are becoming more complex. Cross-functional collaborative dependencies have become more complex. We must embrace complexity -- but this complexity must be interpreted, prioritized and presented as simple ideas that inform cross-functional teams within the organization.
Most people in media advertising are aware that the buy side of the industry receives "perks" from sellers. This may come in the form of a complimentary lunch or dinner, thanks to the expense budgets of the media sellers. Recently, though, some agencies have begun to put guidelines around the perks that an employee may receive. This is a good idea, especially for younger buyers who may not yet know how to comport themselves. However, it's important that we not go too far when it comes to regulating the perks of media. Here's why:
Last week, CNET revealed that nomophobia, the fear of being out of mobile phone contact, is on the rise. Apparently, two in three adults suffer from anxiety when not reachable, up from one in two a year ago. The growing prevalence of nomophobia is unsurprising in light of our ever-increasing obsession with our handheld devices. It is now a documented phenomenon that people experience phantom mobile phone vibrations. Another study has revealed that three quarters of Americans use their mobile phone in the bathroom -- and it's a safe bet that the phone isn't getting washed afterwards. So I have ...
ROI is either a flag you wave in every meeting you enter, or it's a curse that follows you around daily, depending on your point of view and level of comfort with data. I would like to propose a different definition of the model for ROI, one I think is more relevant for this day and age of social media: the return-on-interest model.
As social media budgets continue to rise, demands from the C-suite to prove the value of these investments are intensifying. Executives do intuitively understand that direct consumer relationships are valuable, and they are patiently, albeit eagerly, awaiting the ability of their marketing departments and agencies to correlate the economic impact of ongoing social media investments.
Throughout my professional life, I've had the privilege of riding hundreds of steep learning curves, getting thrown into the deep end in a huge variety of industries, disciplines, and markets. My relish of these moments is perhaps unusual; after all, not everyone likes being completely ignorant when tasked with something new. As such, I thought it might be useful to share what I've learned this past year in one particular area: television advertising and, particularly, media buying.
As our industry becomes increasingly disrupted by digital technology and fundamental changes in consumer behavior, our lives get harder and much more complex. Whose job today is simpler than it was five years ago? Not mine; not yours either, I suspect. Unfortunately, all too often the strategies we choose to simplify our jobs and lives only make them more complicated. How many times have we seen folks trying to solve fundamental market problems by chasing what everyone else says is hot at the moment?
The last month has been amazing in terms of showing the influence of social media. Three events unfurled to tell a story of the scope of social media and the virtual hype machine that it feeds, and you are insane if you're not paying attention. If you're a brand marketer, there are some interesting concepts to take away as well.
Every company promotes innovation and progress within its marketing organization. Yet, culturally and structurally many organizations have hurdles in place that stifle the very process that yields innovative and effective new ideas.
So what’s holding your team back?
The answer is simple: fear.
Fear of Failure: If the corporate culture doesn’t support a little risk, exploration, trial and error, and failure, then it doesn’t support innovation and progress. If you’re stepping outside your comfort zone and developing creative approaches to reaching, influencing and engaging consumers, then you’re bound to have some flops. But these failures are necessary to hit the ...