As 2022 comes to a close and we start to consider how we can be stronger, more agile, and prepared for the next, we took this opportunity to look back and reflect on the advancements that exceeded what we thought possible, the areas that left us wanting more, and the moments that helped to establish why we love this business. Here’s what a few of our team members had to say…?
What did the industry do really well this year???
- I'm proud to see that the industry is continuing to prioritize initiatives that put people at the forefront of its strategy. Whether its ongoing commitments to DEI in everything from leadership teams to brand safety expectations, introducing new audiences and diverse backgrounds to our industry through new recruiting channels, or creating tools and means to reach even more diverse audiences on behalf of our clients, we're recognizing that the agency people proposition must be as dynamic as the industry itself. We still have our work cut out for us, but the commitment isn't wavering.?
- Jill Metcalf, Chief Business and Transformation Officer?
- Being a bit braver about leaning into newer technologies and concepts like decentralization, immersive experiences, putting consumer security at the center of an experience. Senior leaders learning and taking action to put live tests in market.?
- Sarah Stringer, EVP, Head of US Media Partnerships?
- In 2022 the industry witnessed visible growth in the prioritization of social responsibility. Consumers around the world have made their voices clear that social responsibility, ethics, and transparency, matter to them in a huge way and brands have been responding positively by pivoting social media strategies to focus more on inclusive initiatives, messaging, and offerings, while highlighting causes they support. Pfizer, for example, aided when disaster struck with their three-pronged approach; product donations, grants, and solutions to access. In 2022, Pfizer was named one of the most ethical companies in the world by Ethisphere. As the US ramps up for a 2024 election, it will be interesting to see if this positive trend continues and companies speak out against social injustice and policy changes that will negatively impact the environment and particular communities such as LGBTQ+ rights and gender inequality challenges.?
- Gareth Cleevely, SVP, dentsu Media?
- I was so inspired this year by dentsu as well as the broader media and advertising industries being loud to “tear the paper ceiling” and invite a diverse, untapped demographic, full of qualified, experienced, and ambitious people who didn’t finish college to join our industry.?
Where did the industry miss the mark???
- Delivering increased value simultaneous with cost efficiencies is a challenge for our industry at large. Those that successfully navigate away from the dated headcount-based pricing schematic to value and outcome-based models will win in this industry in the years to come. Leveraging technology to transform and automate is the cherry on top.?
- Jill Metcalf, Chief Business and Transformation Officer?
- Along with my positive comes the negative, sometimes blindly trying a new platform without a structured KPI’s or ongoing investment plans. PR and headlines seemed to drive decision making more than business growth or sustained learning.?
- Sarah Stringer, EVP, Head of US Media Partnerships?
- As we continue to challenge our approach to diversity and inclusion, we have to remain committed to loudly and actively supporting racial and ethnic diversity because it continues to be one of our industry’s biggest difficulties.?
- Kai Weidie, SVP, DE&I??
- Industry trends have been fluctuating at an unprecedented rate and it has been difficult for brands to establish a core media strategy and continue along its path, as they are constantly pulled in different directions by the environment around them. Many brands within the industry missed the mark in 3 summarized areas:?
- Preparation for the anticipated recession was delayed as we came hot off the heels of a phenomenal 2021. This resulted in mass job cuts later in the year across dominant tech partners which will inevitably have long-term effects. To name a few, Meta’s metaverse development will be dramatically slowed, Amazon’s voice activated devices could soon trail behind the pack, and Twitter’s brand safety is fast becoming a foreign concept wounding their revenue driving ad business?
- The focus on first party data architecture and growth has yet been given the needed attention by many brands. This is largely due to the ever-changing world of Privacy Policy updates leading to mass bewilderment and subsequent de-prioritization. Brands who prioritize first party data growth through proven strategies such as App Advertising and Social Community Building today, will reap huge rewards tomorrow.?
- Understanding the social and political environment of 2022 – Some brands embraced social responsibility, others remained neutral, but several missed the mark. For an example of social obliviousness, we can cast our minds back to February 2022 when Uber launched their “Uber Don’t Eats” campaign which saw a host of celebrities eating non-food items. A seemingly harmless campaign if launched in years gone by, but an example of what not to do when launched during a seemingly endless period of children consuming dangerous and deadly materials in exchange for social media views, leading to US authorities urging viewers to “not eat soap”.?
- Gareth Cleevely, SVP, dentsu Media?
What are some big bets for 2023 that will be the next path for growth for marketers???
- Beyond the obvious industry trends, we're prioritizing our agenda for Good (e.g., our DEI agenda, Givsly partnership), thought leadership, doubling down on training and our employee experience, and advancing automation to deliver operational excellence beyond brilliant basics. These have the opportunity every day to make the experience of our people, our clients, and their ends customers simpler, more rewarding and more human.?
- Jill Metcalf, Chief Business and Transformation Officer?
- With a downturn, expect to see brands being more stringent with where they spend their money and business outcomes allowing for testing a robust learning agendas AND doing things for the sake of getting in early?
- Sarah Stringer, EVP, Head of US Media Partnerships?
- 2023’s path for growth for marketers involves expertly establishing an “omni-channel” “data-driven” strategy while navigating tight budgets. Consumers are worried about the personal finances now more than ever, potentially leading to declining revenues for brands. A brand’s initial response to an anticipated recession is to shift all spend towards lower funnel marketing tactics that drove the highest KPI in 2022. While there is merit to such a strategy in a passive market, it’s unfortunately not the world we live in. Competition will be greater than ever as more companies shift investment from brick and mortar to online as they look towards cost cutting measures. Those who focus solely on the lower funnel will soon be swept up by omni-channel thinking competitors with allocated budget towards a robust CRO strategy, an innovative Direct Marketing and 1st Party Data acquisition strategy which includes Social Media Commerce and App Advertising, and a strategy which makes data-driven pivots part of the plan from the outset. Brands can no longer use a snapshot of data to inform a marketing strategy. They must constantly pivot and evolve based on live data, combining powerful tools like M1 with their own 1st party data framework.?
- Two honorary mentions are “Experiential Marketing” and “Continued humanization of brands”. Experimental marketing will become a high risk/high reward bet as it can ensure brands stand out amongst the crowd while competitors are shifting their marketing back to the fundamentals. Immersive experiences both online and offline, from AR & VR to Pop-Up Brick and Mortar, can spark great interest and positive sentiment amongst consumers. Continued humanization of brands is a big bet in 2023 as the political environment heats up and seemingly customary topics become a political statement. A successful strategy could result in greatness, but failure could become catastrophic.?
- Gareth Cleevely, SVP, dentsu Media?
One jargon word you are looking to leave behind in 2022???
- Jill Metcalf, Chief Business and Transformation Officer?
- The Metaverse, I LOVE gaming and the promise of more interactive and immersive experiences, but it’s become a lazy catch all phrase.?
- Sarah Stringer, EVP, Head of US Media Partnerships?
- New Normal – we work in one of the fastest changing industries. Rapid transformation is normal. There is nothing new about it.?
- Gareth Cleevely, SVP, dentsu Media?
Why do you love this business???
- I get to work with the smartest people - it inspires and motivates me.?
- Jill Metcalf, Chief Business and Transformation Officer?
- No two days are the same, I get to dive into different topics and categories from one day to the next and apply creative thinking on how to solve a problem.?
- Sarah Stringer, EVP, Head of US Media Partnerships?
- It’s ever changing and challenging nature forces you to be both creative and analytical, both strategic and agile, a fast-paced environment founded in repetitive tasks. The challenge is what I love.?
- Gareth Cleevely, SVP, dentsu Media?
- I love being surrounded by people who value creativity above all else. Sameness is gross!?
