TrinityP3 for FIVE: Media’s post-election existential crisis | Govt pitching season | The Election brand winners | Marketer job skills - Nov 10

Welcome to TrinityP3 for FIVE. A curated newsletter of the five things the TrinityP3 team thinks you need to read this week.?

Our goal with TrinityP3 for FIVE is that in five minutes of reading on a Sunday you can get up to speed, feel more informed or even get a head start on your week.?

And don’t forget you can sign up to the email version of the newsletter here or the LinkedIn version here. We have also launched an experimental AI audio edition here (the AI robots have views on adland, people!)?

This week’s curator is respected marketer John Thompson, GAICD

November 10, 2024

THE FIVE?

1. AFTER TRUMP VICTORY, TRADITIONAL MEDIA FACES ITS OWN EXISTENTIAL CRISIS

On Thursday, The New York Times noted Trump’s victory “changes the nation's sense of itself”, and the same might be said of the media ecosystem. The election result will launch a thousand media think-pieces on the role of the media and trust in the ecosystem.?

Brian Stelter on CNN notes that Trump’s return raises serious credibility questions for the media, while Evan Shapiro does a great job of tracking the decline in trust in the media. The Columbia Journalism Review looks at what a second Trump administration might mean for journalists and journalism in the US and Puck News also has a worthwhile take.

Why it matters (JT): Harris v Trump – the election has been run and won. Some will not like the result; others will love it. Either way, in coming weeks, I suspect we will all hear the following about the new Trump Administration from political commentators: “When America sneezes, the world catches a cold.”? And for marketers, we will all know in a few short months what is on the agenda for the US economy. Is the US going to apply tariffs to Australian exports? What impact will that have on Australian business? It is clear from the reporting that some inside the media in America blame the media for the result.? For consumers and marketers alike, apart from the concerns regarding the freedom of the press in the United States, the other space to watch is the regulation of social media. We may see a change in the appetite of Australian political leaders to tighten controls on social media.

2. THE BRANDS THAT WON THIS ELECTION – ELON, FOX NEWS, TRUMP MEDIA, BITCOIN

Every election has its winners and losers, and the 2024 US election was a big win for some notable brands. Elon Musk was a major winner. Tesla shares lifted more than 14% after Trump called him a “genius” in his victory speech, while the price of Bitcoin hit a new high (this might have something to do with all the pro-crypto politicians going to Congress), lifting from USD$68,734 to USD$75,434 in just over 24 hours. In the lead-up to the election,? September quarter revenue at Fox jumped 11% to $3.56 billion, mainly due to record political advertising. Interestingly, Trump Media shares spiked by 14%, before crashing back down to ultimately close 1.2% off.

Why it matters (JT): It’s not too hard to imagine executives at Fox saying, “Wouldn’t it be good if we had an election every year?” I have heard similar remarks in Australia at different times. It’s way too early to make a call, however. Some marketers in Australia, wanting to do business in the United States, may find themselves looking more seriously at advertising on Truth Social and X, and governments and their advisors may change their stance towards these platforms.

3. FED GOVT ASKS FOR FEEDBACK, AS STATES PREPARE TO PITCH

Last week AdNews reported the Federal Government had asked for feedback on its communications campaign panel. In 2021, a village model was set up as part of a restructure of the government's advertising and communications services and some looming state pitches.?

Why it matters (JT): It’s Government Season, with one state media tender in play and three state media tenders on the horizon in 2025. On top of that, the Australian Government has just launched this consultation paper seeking feedback on its creative panel.?

Agency heads will be talking about winning or retaining these accounts or getting on the panel.? It really does come down to agencies that can demonstrate they understand both the process and the needs of the government. Agency heads really must recognise the differences between the needs of the government and the public sector (they aren’t the same thing) if they expect to go deep into such a tender process and have any real chance of winning. Good luck to all who dare to dream, it's hard work if you are not prepared.

4. TRUMP ALSO WON THE MERCHANDISE WAR

Friendship bracelets, teddy bears, hats, flags, golden shoes – political merch was everywhere during this campaign period.?

Before Americans even made it to the polls they had voted with their wallets, with Trump merch outselling Harris merch on Amazon by more than 5-to-1. According to data from e-commerce marketing platform Omnisend, in April to September Amazon sellers made USD$140 million from Trump merch and USD$26 million from Harris merch.?

Flags were the most popular among Trump supporters, bringing in USD$40 million, as opposed to just USD$1 million from MAGA hats.?

Why it matters (JT): Can you imagine Australians parting with that kind of hard-earned cash for a Dutton T-shirt or Albanese-branded cap? I don’t think so. When you look at the value of such merchandise sales, you can see how invested were Trump voters especially.?

The Trump campaign, with a message that resonated with the people of America, developed merchandise they would want to wear or be proud of displaying outside their homes.? Google Trump merchandise v Harris merchandise and you notice that the Trump merchandise was focused positively on Trump and, broadly, on the MAGA message.? Whereas with Harris, there was a lot of negative merchandise, which may have reinforced the Trump messaging. As marketers know, there are pitfalls with comparative advertising; political campaigners are aware of these too.?

5. AS MORE NEW SKILLS BECOME NECESSARY, MARKETERS HAVE VARYING LEVELS OF CONFIDENCE

Marketing Week is reporting that its 2024 Career and Salary Survey showed that senior marketers are less confident in their skills. The survey showed 83% believed that they had the skills needed; however, one in 10 felt otherwise.?

This follows data from McKinsey showing that, while marketing leaders are taking on more duties – including those related to generative AI – only 27% feel their organisations are well-equipped to handle the wider remit.??

Why it matters (JT): This is great news for training providers and industry associations, such as the Australian Marketing Institute (AMI), which use the Certified Practising Marketer accreditation. Senior marketers need to be mindful that they need to stay up-to-date and relevant in the industry.?

When speaking to marketing professionals, I am constantly surprised that so many don’t undertake their own self-managed professional development, either by reading industry publications or attending conferences and seminars. In my opinion, they rely too heavily on their employer to provide the training and development – in doing so, putting their career development at risk. It is easy to connect to the industry through marketing associations, publications and events.? There are plenty of free marketing newsletters you can subscribe to – like this one.?

FOR THE DIARY IN NOVEMBER

(Or if you’re not invited look out for the headlines)

• November 6-20: Unmade Compass Series
• November 20: IAB Australia Leadership Summit 2024
• November 21: Debate Club: Modern Technology Makes People More Stupid?
• November 22: Mediaweek 100
• November 28: AdNews Live Brisbane

THINGS THAT CAUGHT OUR ATTENTION

Ellie Angell , Business Director ANZ, TrinityP3

The new social media ban for kids will be interesting, in the context of the user base of social media, marketing on social media – and how on earth will it all be policed.

Kylie Ridler-Dutton , Senior Global Consultant, TrinityP3?

In a similar vein to Ellie … The Guardian reported last week that social media platforms with a low risk of harm could escape a looming age ban. As with any good strategy, the proof will be in the implementation. We will need more information as to what kind of incentives are in store for businesses to support this ban.

Darren Woolley , Global CEO, TrinityP3?

Last week CommBank announced it would open up its owned media in the latest development of the retail media wars. The question is how will the bank leverage the media with advertisers? Owned media is an interesting and unexploited area for lots of brands that have the space but don’t use it. My question: at what point are there so many advertiser opportunities that no one cares anymore??

Anton Buchner , Business Director, TrinityP3?

Amazon’s third quarter results caught my eye. It is investing heavily in AI and, having expanded the offering to lower-margin everyday items to compete with the likes of Temu and Shein, Amazon has actually grown its operating margin. It is, however, still dwarfed by Meta and Alphabet.

Lydia Feely , General Manager, TrinityP3?

Who doesn't love to see what Bluey and Bingo are up to? This public transport initiative in Brisbane to help promote the brand experience of Bluey's World just makes you smile! It's also tapping into the expanding trend of consumers wanting to experience their favourite brands.

Nathan Hodges , Managing Director ANZ, TrinityP3?

This Mi3 piece on DDB Group Melbourne and Michael Napolitano caught my attention. I love a good success story. This is one of those.

Nic Christensen , Senior Consultant, TrinityP3?

You know it’s getting closer to Christmas as the John Lewis ads roll out. I rather like this year’s theme of “Give Knowingly”.

WHAT WE’VE BEEN UP TO

We announced some exciting appointments and promotions with Anton Buchner getting a promotion and Kate Gunby and Adrian Treahy joining the team! The news went far and wide with AdNews, B&T, LLB, Mediaweek, Mi3 and Mumbrella all covering the news of the expansion.

WHAT MADE US LAUGH?

There’s a lesson here… one about not counting your chickens before they hatch. It appears this political consultant may have gone for the victory champagne a little early…

AND FINALLY?

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