There was an great interview in AFR last Monday 7th of September 2009. Five top industry leaders spoke their truths. I Thought I would highlight the most interesting points about the rise of digital media, pressure on fees and the sluggish state of the marketing world.
The key changes over the past year were: Well established trends have been accelerated by the GFC, particularly the rise of digital media and he blurring of different marketing disciplines into totally integrated offers. Social Media is an increasingly important part of the mix. We are in a journey of change and the ad world is shifting from traditional media to online. Digital has become mainstream.
What are the key issues facing agencies: staff members are multi-skilled and ensure that "digital" is a natural, integrated part of the agency. Agency will no longer "do ads" they will "do ideas". Creating ads that resonate rather than interrupt. The key issue is the ever-increasing consumer control over the communications process. People not consumers as I like to call them, will engage only when they want to.
How are the needs of clients changing: Proven track records and clients want fewer partners. Clients' want true insights driven by quantifiable data. It's the ability to marry customer behaviour and transaction data into insights.
What do consumers want to see in advertising: People are screaming out to marketers to recognize exactly how they have changed their opinions, attitudes and behaviours. We all want to belong!