Tuesday, March 3, 2009
Agencies Head To The Big Easy To Face Hard Topics
By Joe Marchese What is the future of the advertising agency model? The crisis that agencies face is coming to a climax, with an advertising industry beset by a global economic recession, combined with a sea change in the way media, and therefore marketing, reaches people. It is with this backdrop that industry executives head to New Orleans to discuss key issues and share ideas at the American Association of Advertising Agencies' Media Conference.
Even if you can't get to New Orleans, the topics discussed will likely hit close to home if you are reading this column. Panels at this year's 4A's include "Measuring the REAL Value of Internet Media" (1); "New Business Models and Monetization of Marketing Service Agency Ideas & Work" (2); and "Developing Ideas for the New Patterns of Media Consumption: The Creative View" (3); among many other key discussions. I will be participating on a panel near and dear to my heart on the final day, "Can Social Marketing Be Monetized Without Screwing Up the Consumer Experience?"(4) - which will be moderated by Josh Bernoff, of Forrester Research and "Groundswell" fame. The fact that I numbered each panel will be explained shortly, I promise.
It is important to consider how interdependent all of the major themes listed above are. For example, social marketing not "screwing up" people's social media experience (4), will be highly dependent on developing creative ideas that work for new media (3). Successful new business models for agencies (2) will be determined by agencies' ability to get marketers into the social media landscape, both through great creative and integrated social media efforts (3+4). And it will be impossible to monetize social marketing (4), allocate resources for new media creative (3) or build agency business models that work (2), if marketers can't effectively measure the REAL value of Internet media (1).
While it always helps to break challenges down to manageable chunks, it can sometimes help to think about how they fit into the bigger picture. When creatives know how their assets will impact media-buying efforts -- and both know how creative and media roles will evolve in the new media world to create sustainable business model -- it allows people to be proactive. No matter which area you operate in, understanding how things are changing overall will make you a better partner, client or employee.
I'll be keeping everyone up to date with the best insights from the 4As conference in New Orleans on Twitter www.twitter.com/joemarchese. Leave your thoughts and comments here, or @ me on twitter so I can ask about the issue you care about while at the conference.
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Joe Marchese is President of socialvibe.
Online Spin for Tuesday, March 3, 2009: