Online Marketing

P&G’s Last Stand.

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Last January at the IAB Annual Leadership Meeting, I followed Procter & Gamble CMO Marc Pritchard on stage after his speech about all that was wrong with the digital supply chain – the first of his ultimatums to the digital advertising channel.  It was a very impressive speech, and he said a lot that needed to be said.  Ten years ago we used to joke that P&G shouldn’t get to make any public pronouncements about digital advertising until it actually spent money on it; and here was the P&G CMO – who’d spent a lot in recent years – having his say.

But then came the Ides of March.  In an instant P&G cut $100 million in digital ad spend, with the implied threat that until we got our collective act together on fraud, viewability, standardization and more, that money wasn’t coming back.  I know many sales reps who did land office P&G business in 2016 and who are now seeing a big fat zero in that column.

But I wonder….

The Drift is proudly underwritten this week by Digital Remedy, a digital marketing and technology solutions partner to publishers, advertisers, and influencers. Digital Remedy delivers performance-based and cross-channel solutions to increase monetization and operations potential of any organization while exceeding standard KPIs. Visit Digital Remedy to learn more.

I wonder if this is all as clear as it’s meant to look.  All that money went away:  will it really all come back once MRC accreditation kicks in?  I’m starting to think that it won’t.  And even if it does, I’m not sure it’s going to flow through the same pipes or look anything like the spending we all got used to in recent years.

I wonder if P&G cutting $100 million from digital wasn’t just the least painful, most justifiable way they could make a significant move away from above-the-line brand advertising.  The world has changed dramatically for P&G and other packaged goods giants in recent years, and the change doesn’t have all that much to do with viewability standards on digital banners.  The simple truth is that the distribution chain has been completely upended.  Amazon has become a dominant channel for the sale of packaged goods, household and personal care products, and they will continue to press the P&Gs of the world for deeper and deeper discounts.  That money has to come from someplace.

I wonder if those working so hard to win P&G’s digital advertising money back might be fighting the last war….as if we all just assumed that the biggest TV advertisers would morph into the biggest digital spenders.  I wonder if advertising isn’t being seen now as a cost center to be managed and if the goal might be to buy less and less of it.

I wonder if we all need to think less about how we’ll help P&G spend its shrinking pile of advertising cash and how – instead – we might help them sell more product in a world where there’s a new normal for distribution and consumer behavior.

I wonder if we’re not all missing the story line here.

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True North.

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True NorthThinking about how to navigate your career during these murky times?  Maybe what you need is a North Star…and some timeless rules about how and where to focus.  This January 2015 post may be just the thing.

It’s a dirty little secret that this is the time of year that a lot of things start to shake loose. The end of the year means that year end compensation checks come through, and those who’ve been thinking about making a job change are likely to start moving in the next 4-6 weeks. While this is by no means the only period of intensive recruiting, interviewing and hiring – it’s a year-round phenomenon – it’s certainly peak season.

While I have an iron-clad rule against ever sourcing talent (recruiters: sorry, don’t even ask), I do get a lot of calls from sellers and sales leaders thinking about their next career move. Since I end up giving the same advice, I’m putting it out into the public sphere via this post.

This week’s Drift is proudly underwritten by AppNexus. With AppNexus Mobile Solutions, you can access more demand partners than ever, gain precision insight into your inventory’s pricing and attract the ad spend of the world’s largest advertisers.

Rule #1: Find Your North Star. Job candidates often find themselves in full response mode, and end up comparing one potential offer to another. Instead, write out the specs for your perfect job, right down to how much you want to travel, what kind of meetings you want to be having, and what kind of brands and agencies you want to call on. Now start measuring your options based on their distance from your ideal.

Rule #2: Stand in the Rain. If you want to get wet… First ask whether the space you’ll be entering is growing or contracting. Will this be bigger and wealthier in three years than it is now? A growing market forgives a lot of sins. No matter how good you are, musical chairs has lousy odds.

Rule #3: Don’t Bet on the Business Plan. Like battle plans, business plans get torn up as soon as the shooting starts. While you’re interviewing, subtly probe on how the company developed the assumptions in the plan. You should be looking at the quality of their processes, as you’ll end up living with them from this point on.

Rule #4: Look Past ‘Smart.’  Everyone loves to tell me how smart the people running the company are. Paraphrasing the late James Gandolfini in Zero Dark Thirty, “It’s the internet. We’re all smart. What else?” Are they wise? Generous? Patient? Will they make the right decisions when things go sideways? Remember that you are interviewing them, not just the other way around. Management and leadership are not going to suddenly get better and more virtuous after you’re hired. Take a clear eyed look now.

Above all, start thinking of your career as a narrative… a story of someone who’s getting wiser and more valuable as time passes. Will this next move be a chapter that fits?

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Moderators: Suck No More!

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Moderators Suck No MoreTo celebrate Advertising Week and its scores of panel discussions, I’m reposting this Drift from 2011.  If you’re moderating, speaking on, or just watching a panel this week, this one’s for you.

Industry conference season now seems to stretch roughly from Martin Luther King’s Birthday to Winter Solstice, and there seems to be a new entrant (or four) vying for our time and attention every month.  And the attendees who move from summit to summit like migrant farm workers trooping from field to field all share one central opinion:  Boy, there are an awful lot of crappy panel discussions!

Indeed there are.  Some conference organizers have gone so far as to impose an outright ban on panels.  But blaming the panel is like blaming the chicken and carrots and rice for being a bad meal.  Somebody was in charge (or, too often, not in charge) of its preparation.  Having moderated scores of them over the years, I’ll take a stand:  there are no bad panels, only bad moderators. As a service to the industry, I’m offering free advice to both conference producers and would be moderators.  Please accept it.  Then go forward and suck no more.

This week’s Drift is proudly underwritten by AppNexus. Join AppNexus at this year’s Yield Executive Summit, taking place TOMORROW Wednesday, September 28, in New York City.  We look forward to an exclusive day of discussions and presentations with top influencers in digital advertising as we examine the essential tools that every publisher must have for successful monetization and digital acceleration.

Rule #1:  Being on Stage is a Privilege. If you’re running a conference, you are doing the moderator a favor by allowing him or her to run the panel.   Establish clear expectations and hold the moderator responsible along the way.  (Side note: If you’re choosing moderators or panelists based on who’s sponsoring your conference, you’ve painted yourself into a corner.)  Talk to your moderators about the level of preparation and scripting you expect.

Rule #2:  The Moderator Works for the Audience. You’re not up there to make the panelists feel good.  (See Rule #1: it’s a privilege for them to be on stage too.)  Be an advocate for audience rights:  the right not to be bored, not to have their time wasted.  If you think a panelist is opaque, confusing or off topic, fix it.  As the follow up question; challenge; redirect.

Rule #3:  The Opening Always Sucks.  Skip it. Those brief two-minute self introductions you let the panelists do are the beginning of a bad panel.  Either introduce them and their companies yourself in 20 seconds or less (and of course NEVER read anybody’s bio!) or just put their names and companies up on a slide.  The audience you work for (Rule #2) only cares if the panelists are insightful, useful or entertaining.  Get on with it.

Rule #4:  Do the Work. Individual pre-conference conversations – or at very least an email exchange – with the panelists should be mandatory.  These exchanges are followed by an email to the group outlining the themes and questions you’ll be including.  The best panels are the continuation of a conversation, not the initiation of one.

Rule #5:  Have a Point of View. Who says the moderator has to be moderate?  Be a flash point instead.  Bring your own views to the panel.  Lay them out and ask the panelists for reactions.  You’re not a potted plant.

Rule #6: Don’t be fair.  Be good. Too many moderators go “down the line” and give every panelist a say in every question. Nobody wants to hear hair-splitting nuance and incremental improvements on points.  Direct questions to specific panelists then move on.

Rule #7:  Look, Listen, Interrupt. Good moderators don’t look at their panelists all the time; they’re constantly looking out into the audience.  This forces their panelists to do the same and keeps eye contact between the panel and the crowd.  Also truly listen to the answers – then probe, challenge and expand on them.  When a comment is sharp, reinforce it.  When it’s lame or meandering, interrupt and redirect.  (See rules 2 & 6)

With all the scary smart people in our business, it’s a tragedy that our primary vehicle for learning from them is so terribly broken.  Next time you’re seeking refuge on your iPhone or Droid during some panel that’s going nowhere, use the time to forward this post….to the moderator.

If you want to see if I practice what I preach, come by the Liberty Theater on Wednesday afternoon at 4:30.  I’ll be moderating “Breaking Through: Media Strategies that Impact and Reach Millennials.”

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The Millennial Reach.

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The Millennial ReachI’m moderating an Advertising Week panel next Wednesday called “Breaking Through:  Media Strategies that Impact and Reach Millennials.”  I didn’t name the panel:  If I had, I’d probably have left the word reach out of the description.

As I’ve told many customer groups over the last few years, reaching millennials is not the problem.  There are a hundred programmatic strategies to put an ad message in front of a critical mass of millennials. Heck, a reasonably well-designed cable buy will get you the reach, if that’s what you care about.  But reach is not the point.  In fact, for publishers and media companies it can be a fatal distraction.

This week’s Drift is proudly underwritten by AppNexus. Join AppNexus at this year’s Yield Executive Summit, taking place on Wednesday, September 28, in New York City.  We look forward to an exclusive day of discussions and presentations with top influencers in digital advertising as we examine the essential tools that every publisher must have for successful monetization and digital acceleration.

When reduced to the concept of reach, millennials are the new adults/25-39. It’s just math. When it comes to impact, however, there’s a lot of good work to be done.  Most of what we think we know about millennials is made up of stereotypes and bland generalities.  But one thing is true:  they are the first generation to grow up in a world of constant connection and unlimited media and communication choice.  And that fact informs the ways in which we can truly help marketers.  We need to give them solid guidance on three factors:  distribution, form and tone.

Distribution:  To the cable programmer, the connection has to be made on its own channels; to the web publisher, it’s all about who comes to my site or spends time with my app.  But that’s becoming a fool’s errand.  We must understand and offer strategies based on how young consumers will really experience, participate in and share the conversation.

Form:  Is the banner ad a dead issue in persuading millennials to do anything?  Pretty much.  And the canned 15 or 30 second pre-roll ad is not far behind.  And the kind of typical social posts executed by many marketers today are also headed for the boneyard.  The question we need to help marketers answer is, “when it comes to millennials, what will replace the ad unit?”    In the short run, we can advise them on things like ad size and video length, but that’s really just kicking the can.  Millennial consumers reject ads.  We need something else.

Tone:  Perhaps the best way for publishers and media companies to make a difference for marketers is to become their millennial translators.  Too often, the marketer’s attempts and native content, social participation or influencer marketing have the same effect as your dad showing up at the bar where you and your friends hang out.  And if he’s grown a hipster beard and tosses out cliché buzzwords, all the worse.  Finding an authentic and legitimate voice in the millennial conversation is what is most imperative to the marketer.  You can help with that.

Care to join the conversation?  Post your comments below and plan to join us on Wednesday, September 28th at 4:30 at the Liberty Theater on 42nd Street.  Walker Jacobs (Fandom), Kathy Kayse (Yahoo!), Andrew Capone (NCC) and Ben Dietz (VICE) will help us unpack the issues.  If you’re not registered, go here. See you next week.

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Authenticity…Again

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Authenticity AgainAs content and influencer marketing continue to spiral up, this post from 2015 may be even more relevant today.

Over the last decade the digital marketing business has lived through a personality crisis. On the one hand there’s the relentless march of programmatic automation. On the other, native advertising — or sponsored content or branded entertainment or whatever else we’re calling the opposite of commoditization. Throughout this whole tedious game of semantic Twister, we’ve ignored the quality we should all be striving to embody; a quality that strengthens customer commitment, forges employee loyalty and gets us all closer to purpose-driven business marketing.

The quality – and the word – we’ve been grasping for is authenticity.

This week’s Drift is proudly underwritten by AppNexus. Join AppNexus at this year’s Yield Executive Summit, taking place on Wednesday, September 28, in New York City.  We look forward to an exclusive day of discussions and presentations with top influencers in digital advertising as we examine the essential tools that every publisher must have for successful monetization and digital acceleration.

What we all do for a living may remain ridiculously complicated, but the answer may be just this simple. What consumers want from their bourbon, their coffee houses, their granola and their politicians – authenticity – may be exactly what marketers and agencies and publishers desperately crave in our world.

Whether you make blue jeans or offer DMP services, being authentic doesn’t mean that you’re the only one who makes what you make or does what you do. It means being clear and open about your process, your motivations, your beliefs. No matter how right or left brain your company is, there is something authentic and genuine about how you build your product or deliver your service; why you’re in business at all; and in what you believe as a company. Or at least there should be.

Look at two of the world’s most powerful technology companies – Apple and Google. Despite hugely complicated technology stacks and a sometimes confusing morass of products (most of which, in the case of Apple, are mass produced overseas), both companies still seem authentic to the customer. “Don’t’ Be Evil.” “Think Different.” “Designed by Apple in California.” Should any of our companies aim for less?

The thing about authenticity is that you can’t outsource it. Too often the world-class engineers who invented your product or the visionary CEO who got the company funded simply hand off the job to the marketing professionals, the copywriters or the ad agency. Too often those who sell to and service our customers are given talking points or white papers and left to fend for themselves.

Authentic isn’t what you say. It’s who you are. So who are you, then?

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