Archives for posts with tag: dinosaurs

445599bb189e54c71f605bd87d6f0f4b1cd6efcc_m

Yahoo!, the last traditional media company, is in deep trouble. Just like AOL, MSN and Forbes.com – dinosaurs founded in a time where media agencies had to manage scarcity. The Yahoo! Homepage used to be part of a digital media plan just like buying commercials during the NFL season for beer brands. Two things changed: ad networks, DSP’s and ad exchanges changed the focus of media agencies from placement buying to audience buying. And, more importantly, people are less interested in reading professional content and pay more attention to content created by their friends.

What is Yahoo’s response to a changed marketplace and customer behavior?

More content, more video, more, more, more. I wonder if Albert Einstein’s “Doing the same thing over and over again and expecting different results” has become Yahoo’s mission statement. More is not the answer. Traditional media companies will never be able to compete with the amount of content created on Social Networks, Twitter, Foursquare, YouTube, Facebook, Google+, Blogs, sites, Tumblr, etc. I’m not predicting the death of Yahoo!, nothing ever dies. VCR’s are still flashing “12:00” in millions of households, papers are being delivered to millions of door steps each morning and millions of faxes are being delivered each week. It took decades after the telegraph

was invented until the last telegraph was sent. (January 27, 2006, to be exact.) Yahoo! will be around for a long time to come. More irrelevant and less valuable by the day.

The demise of Yahoo! points to an important development

Online advertising is in the middle of a radical evolution but the majority of agencies/brands are acting as if it was still 2005. During that period, the majority of digital marketers were complaining about silos and the fact that they were cut off from the traditional campaign. Digital advertising had no place at the table and was not more than an afterthought: “Make sure the banner ad looks like the commercial.”

The disconnect is now between display advertising and social media

I see more integration between TV/Print campaigns and Social Media compared to Display Advertising and Social Media. The challenge is that Display Advertising continues to be deeply anchored in the world of Direct Marketing, creating a massive disconnect between that display advertising and Social Media. When your goal is to convert prospects into leads, a Social Media integration seems nothing than a silly distraction. Or, is it?

We’re reliving 2005 in the display advertising space: SEM/SEO is always at the table, Social Media the hot new toy and display advertising was relegated to the basement and algorithms.

What is the remaining value of media buying agencies?

The agency role in this new ecosystem will be re-evaluated by brands. The main challenge for media buying agencies will be their unique value proposition. It used to be access, buying power and custom tools. That competitive advantage is slowly disappearing because content created outside of traditional media properties gains importance and relevance over time.

The secondary challenge is the lack of trusted measurements. Ask 100,000 marketers about trusted and reliable measurements and you will get 150,000 answers. Is it impressions, clicks, conversions, engagement, connections – what the hell is it? It’s a lack of industry leadership but also a lack of confidence by agencies based on the fickle brands. “Oh, you focus on conversions? Sure, we can do that.”

Sorry, I don’t know the answer. I just have a lot of questions.

The marketing landscape continues to evolve rapidly. We’re still trying to answer the questions of 2005, while our clients expect us to answer the questions of 2012. As a industry, we need to find better ways to measure, to attribute and to communicate our value proposition to clients.

The conference season is upon us. I hope we can spend less time talking about case studies and acting as if we knew the answers. Instead, let’s ask more questions.

ce140b7d582be6daaed6022ae6b6d7d62885e07c_m

The dinosaurs disappeared because they could not adapt to a changing world.

Their failure to diversify as ecosystems were changing doomed them to extinction.

Your brand, major institutions and our whole economy will disappear if you do not adapt to a changing world.

The human species has dominated the blue planet for thousands of years.

We dominated and controlled other species in our ongoing fight over land and resources.

This ongoing fight hasn’t changed over the millenniums.

Just have a look at all the institutions we created, all the organizations that dominate our lives.

With a few exceptions, all of them compete aggressively to grow as big as they can.

For years we believed the dinosaurs disappeared because of a massive event.

Meteor Strike.

Climate Change.

Aliens.

We just couldn’t fathom these massive, powerful creatures could disappear from the face of the earth because they weren’t able to adapt.

It’s part of human nature: We tend to look  at things in ways that makes us feel good about ourselves.

Or we just want to find ways that support our point of view.

It’s easier than digging deep to find the real truth.

Especially when it doesn’t support our belief system.

Just look at the way brands analyze social data.

They spend millions of dollars to develop sophisticated dashboards that just look at mentions of their brand and competitors.

Nothing else.

What a limited universe that is.

So self-indulgent.

Let’s just analyze anything that has to do with us.

And our world.

Completely ignoring the real human insights.

People only talk about your brand 0.0001% of their time.

What insights can you gather when you ignore 99.9999% of people’s world?

So, you really don’t care about their lives?

What people are really about?

Looking at research through your unicorn-enhanced glasses feels good, doesn’t it?

You can claim to be listening.

You’re not really listening.

You’re listening through unicorn filters.

But it makes you blind to things that really matter.

The things that are changing our world.

The things that make a brand disappear.

And it doesn’t help us see what we need to do to adapt.

I guess that’s what we call creative destruction.

The organizations that continue to live in a unicorn world and see the world through their filters will disappear.

The rest of us?

We just build a better future.