Posted: under Digital Migration, monetizing mobile content, New Marketing, new media, Newspaper Deathwatch, Webconomics.
Tags: ad age, ad spending, Digital Hollywood, omma, Online Video, print, recession, the big three
Another quick hit, this one courtesy of an article in AdAge about how the free-fall in the ad industry has at least stopped, but what’s emerging out of the wreckage is that things will never go back to the way they were.
“This current economy has stimulated a new marketing consciousness,” said Laurence Boschetto, president-CEO, DraftFCB. “Clients are saying they want accountability for every dollar they spend, and they want cause and effect. Clients will continue to rally behind ideas that build business, and we as an industry have to accept that things will never revert back to the pre-recession mind-set that wasn’t totally focused on accountability.”
At every conference I’ve attended this year, especially OMMA and Digital Hollywood, I’ve sat in the room with media planners and ad buyers (AKA the guys in expensive suits who write the multi-million dollar checks to buy 30-second spots on American Idol), and listened to them piss & moan about their jobs.
“The goddam clients are calling me every day and screaming in my ear,” groused a Tums-chomping buyer for a major food company. “All they talk about is ‘The Board,’ and how everyone is shit-scared of winding up on the front page of the New York Times for blowing millions while we’re in a Depression.
“The orders have come down from on high that every nickel they spend has to be tracked, assessed, spreadsheeted and connected to a dollar in sales. Well, it all rolls downhill to me. I have to show results for everything, and when it comes to print and broadcast, that’s getting harder and harder to justify.
“Even if the scale and the reach aren’t there yet, when I’ve got a Google Analytics spreadsheet tracking the ad buy, at least I can walk into the client meeting with more than my dick in my hand.
“I’ve got a $300 million budget for the next year. Zero point zero zero is going to print. Nada. Nothing. I can’t justify it anymore. And broadcast TV is next.”