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Digital Transformation keeps marketers up-to-date on the latest industry trends, news, and insights in a constantly evolving landscape. If you haven’t subscribed yet, click the “Subscribe” button in the upper right corner above.
Okay, people keep asking, so, I'm starting to open up about my motivations and history, and more importantly, I'm talking about people who are good at doing good work. (This is my first newsletter via LinkedIn, will get better over time.
Every week a podcast revolving around Media, Advertising and Business. Spotify: https://spoti.fi/30bktXB Sticher: https://bit.ly/2WhxZYB Deezer: https://bit.ly/3gR8VQ6 Podcast Addict: https://bit.ly/3epy7M8
As WPP refuses to participate in pitches run by Accenture, have they inadvertently anointed them as a legitimate competitor in the advertising industry? For years WPP were considered to be the Goliath, prepared to squash or acquire smaller agency businesses that threatened their dominance. But times have changed and WPP now has a waning fortune. The company’s share price has almost halved since the highs of 2016 and it now finds itself on the defense and under pressure to carve out a bright future for its twitchy shareholders. But Accenture seems to be blocking the sun.
3. Creative is the biggest differentiator a brand is looking for in a partnership. The one thing you can’t build, buy or own and can’t be commoditised is the creative idea. And ok, maybe love. Brands have a constant and never-ending lust to inspire, delight … and be loved! There are a myriad of delivery mechanisms now - too many - so the single biggest thing a partner can bring to the table is creative ideas, insights and reporting on how they are resonating and the impact they are having. Authentic, localised and personalised marketing matters. Moment marketing matters. Making people ’feel’ matters. Partners and solutions that enable and help understand this are in demand. 4. The oldest rule in the book still applies - the brands follow the eyeballs. Facebook & Google still monopolise attention and eyeballs across their various platforms. Working with them to weave a brand story authentically is still what brands are spending a hell of a lot of their time and money on.
October 6, 2018: Alberto Brea posted on LinkedIn
"When agencies decided to move away from the commission system and adopt the same time-based billing system used by law firms, they unhooked this alignment of economic incentives. Today, instead of obsessing about a brand’s success metrics, most agencies are preoccupied with recording, tracking, and billing their time." "Instead of having conversations about how to increase marketing effectiveness, brands and agencies are discussing how to decrease agency hours." "With pressure to do the same work for less money, agencies replace senior talent with junior talent, resulting in a workforce that is significantly younger and less experienced than 10 years ago." Read more: https://www.linkedin.com/pulse/how-time-based-billing-destroying-agency-business-tim-williams/
This guest post was contributed by Kevin Mallon, Partnership Manager at AdParlor. It’s February. For most of us, by this time of the year, our resolutions have gone out the window, and we have reverted to the old habits we swore we would move away from. It's the same in digital advertising. Like clockwork, companies are falling over themselves to splash out on big, expensive ad campaigns that will likely not improve sales or awareness for their brand. Even worse – these campaigns may run the risk of offending their target customer when they launch them. So why keep doing it? Here we are, 100 years after John Wanamaker famously said that half of advertising dollars are wasted on ads that just don’t work, and marketers are still wasting money by showing the same ad to their entire audience. We know what successful ads look like now, because we can quantitatively measure their success. What is the secret to a successful ad? It’s that a great ad looks different for everyone. Mass personalization in advertising works more effectively than mass marketing. Period. You heard me correctly. That $10 million ad you just commissioned? It’s not going to work for most of your target audience! But you’ve read Wanamaker, so you already knew that, right? So you are probably already focusing on mass personalization in your advertising campaigns. If not, then it’s time to change the terrible habits from mass marketing in your digital advertising campaigns. Still need proof? Last year, AdParlor performed deep dive analysis on more than 50 large digital media advertisers. The results were astonishing: Most of these companies had wasted between 20 percent and 50 percent of their 2017 social media spend. One of the main culprits behind this waste was ineffective creative. After some digging into why, we found that most of these advertisers are still signing off on creative by consensus, rather than by data.
Everyone is a Media Company If you are a source of news, advice or entertainment, you are a media company. If you are selling ads or services against your content, you are a media company. If you are commissioning original content, you are a media company. If you are moderating content, you are a media company. If you are not a media company, you are invisible. Facebook is a media company, powered by the biggest social platform. Nearly half of all US adults get news from Facebook. Google is a media company, powered by the biggest search platform. About 18% of US adults get their news from YouTube LinkedIn is a media company, powered by the biggest career platform. LI is the preferred source for job hunting. Amazon is a media company, powered by the biggest commerce platform. Amazon is the main source of customer reviews for products. Tesla is a media company, powered by Elon Musk. Musk’s 17 million-strong follower base on Twitter sheds light on his global appeal. You "the individual" are a media company, powered by your posts, videos, and comments. Today companies need to unleash their employees as a media. If employees don't advocate for their companies, why should customers do it?
What, oh what, is happening to the large advertising agency holding companies? The likes of WPP, Publicis, Omnicom and others. Revenues are declining, and being blamed on spending cuts by large CPG companies such as P&G and Unilever. Few believe this. There is a chance that this is the beginning of the end for the large agency holding companies. Certainly, it is the beginning of a long, tough fight for survival. Why is this? Click to read more ... https://www.linkedin.com/pulse/2018-bruising-year-agency-holding-companies-ben-legg/
"You're going to LAUGH at me when I tell you what MARKETING CATEGORY I think will EXPLODE next." Am I kidding myself?
Creative Agencies are Failing to Deliver People-Based Marketing The traditional agency model has encouraged the separation of Creative and Media - different processes, different cultures, different P&Ls. And over the years, they’ve never really shown much love for each other. Creative has often looked at Media as the boring afterthought of advertising, and Media has usually seen Creative as the spoiled child who always needs to get their own way. Over the past decade, Media agencies and their business models have been blown up by digital marketing complexity, auction pricing, technology and powerful new arrivals such as Google and Facebook. Meanwhile, Creative agencies have hardly changed at all. That was Don Draper’s suicide.
About ten years ago, I was working at a small data company in the offline predictive analytics and data management industry at a time when offline data, segmentation, predictive analytics, algorithms and machine learning were largely the domain of database marketers and CRM teams. Though many of my colleagues were excited about the potential future of online customer acquisition, real-time segmentation and bridging the gap between offline data and online data, the data management industry and the respective companies all slowly realized the opportunity. The most aggressive shifted employees to exciting new roles and opportunities that drove further growth. The least aggressive continued with business as usual and missed the outsized opportunities and outcomes created by companies like LiveRamp, DataLogix, BlueKai, Krux and others. More than anything else, the most successful firms were the ones who saw this convergence and opportunity as something to be seized – one that would allow them to leverage their offline expertise with new technologies, faster and at a fraction of the cost. I believe that we can achieve the same sort of transformation here in the advertising and marketing space.
The concept of brands will fade over time under the influence of bots, the sharing economy and the very recent ‛unbranding’ movement. Brands are Big Business. A lot of cold hard cash is invested in keeping the names of Nike, Coca Cola, Louis Vuitton or Harley Davidson resonating in our heads. Successful brands make sure they embody as much a ‛lifestyle’ as they are representative of products and services. That’s the way they ease themselves into the minds and hearts of the consumer. But that’s about to change. There are several forces at work that will make the concept of a brand increasingly irrelevant and will have a huge impact on how we will market our companies, products and services. Here’s what you need to know.
One could argue, as I’m about to, that when the agency compensation system moved from commission to fees the equivalent of a slow moving meteorite was launched toward the advertising business. But because it was so slow at the time, real calamity felt like it was a zillion miles away so there wasn’t a sense of urgency to change things much. Staffing adjustments were made and things moved on as usual. In the years that followed, the meteor began to pick up steam. The media environment began to evolve making things harder to measure. Digital exploded on the scene. Pitches based on price wars began. Some clients went to zero-based budgeting. Consultancies decided the agency business was fair game. Tech companies like Google and Facebook have grown increasingly powerful. P&G pulled $100MM of digital spend and nothing happened. And most recently, WPP’s stock price plunged when they reported a slowdown in global ad spending. Slow no more, the meteor is now breaking earth’s atmosphere.
With some of the biggest AdTech shows fast approaching (Exchange Wire #ATSL17, Dmexco & Programmatic IO), I thought it would be a good time to compile a quick guide as to the key events & areas currently shaping programmatic advertising from my own personal viewpoint. Click to read more.
This business is going to kill me one day. The autopsy will show that the cause of death was a high speed, head on collision with banal bean counters masquerading as experienced marketers. My remains will be impossible to identify as a result of the crushing weight of countless spreadsheets. Once I’m six feet under, a 20-something digital media expert will gleefully frolick on my grave because a display banner featuring a dancing alien touting low mortgage rates garnered an industry average .02% click-through rate. Click to read more
