EMOTION-TECH: Preparing for the Future of Big Data
In 1759, British essayist Samuel Johnson wrote "The trade of advertising is now so near to perfection that it is not easy to propose any improvement." More than 100 years later, in 1890, advertising was far from perfect, as Philadelphia retailer John Wanamaker noted when he commented "Half the money I spend on advertising is wasted." Another 100 years later, I noted in my first bookAdbashing: Surviving the Attacks on Advertising , "Marketers may be facing shifts in consumer and communications patterns for which there are no precedents and for which they are ill prepared. It is time to take a hard look at our approaches to marketing."
They didn't, and in 2015 the advertising business is in chaos. Marketers, agencies and media content owners and distributors are confronting historic transformation as:
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traditional advertising metrics and currencies lose relevance and value;
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technology requires that you commit to new business and organizational models;
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new data and performance-based metrics battle for relevance;
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marketing and agency executives spend inordinate amounts of their time and resources on never-ending business reviews;
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consumer behavior and media consumption patterns are radically shifting;
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creativity is being redefined;
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management copes with talent development requirements and diversity;
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no one seems to have real answers about how future changes will further disrupt their businesses
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