There’s a lot of talk about Advertising 2.0. What’s right, what’s wrong and what’s possible.
The advertising industry has experienced considerable change and is predicting slow growth again this year. This is in large part due to the disruptive impact of social media and ad-tech but also attributable to the low-growth, low inflation economic environment affecting many of the industries that previously invested heavily in advertising: big advertisers have reacted with aggressive cost-cutting and also brought some services in-house.
Whereas the accepted wisdom is that the captive in-house agency idea is a proven non-starter (exemplified recently by Pepsi’s fiasco), cost-cutting is a natural and often well-advised reaction but it needs to be in pursuit of value and not simply short-term bottom line performance.
So how to unlock value in the 2.0 world in which we operate?
It takes focus and discipline. Focus on the goals — brand or direct response — of the initiative; focus on the identity and needs of the audience; focus on the core brand position and value proposition of the client and discipline on execution so that it truly resonates and reflects back on the campaign goals.
Sound old-school? That’s because it is! The trick is applying this prism to the tools, platforms, attitudes and audiences of the 2.0. New markets can be reached more efficiently, effectively and speedily.
