Digital metrics promise the ability to be accountable for everything we do in advertising, but the reality is that they are limited in what they can actually measure.
Let’s admit it. No one is perfect, although we may strive to be. Whether it is your personal or professional life, success is our ultimate goal.
The Wall Street Journal reported today that "Ad Buyers Sure Love Vice, But Are Torn About its Valuation." And I am the "ad buyer" they were talking about. I was asked for an opinion on what I thought of their billion-dollar-plus valuation and potential acquisition by Time Warner and I have to say, I was pretty enthusiastic about Vice as a content brand.
eMarketer released a report today showing how the $50 billion in digital ad spending in 2014 is being divided across branding and direct response. Unsurprisingly, direct response is winning. Marketers crave a clear ROI and direct response gives them one.
Let's take a quick look at the data and see how it breaks down...
Two weeks ago, I was asked to be part of "The Landscape Panel" at the iMedia Agency Summit in Austin. It was called the Landscape Panel because they had representatives from the brand side (Kristi Karens from Mondelez), publisher side (Nicki Purcell from Dallas Morning News), media side (Shenan Reed from MEC) and me, representing the creative side of our industry. The theme of this year's summit was "the future of data-driven creativity."
This morning I wrote a post in Ad Age on why the collapse of the merger between industry giants Omnicom and Publicis is great for small agencies. This was a follow up to another story I wrote nine months ago on why the merger itself was great for small agencies.
Clearly there's a trend here. No matter what the big guys do, it's good for us. Because they are clueless.
"Duh," you might say.
That the "Zen Master" Phil Jackson intuitively gets the principles of tai chi for business I've been discussing may seem like a no brainer. He's the zen guy after all, the man that taught Jordan, Shaq and Kobe to meditate. The guy who zenned his way to a mind-blowing eleven NBA championships.
Nonetheless, I just read Coach Jackson's book, Eleven Rings, and was struck by how closely the stories he told reinforced some of the ideas I've been trying to convey.
I was recently struck by a post in my Facebook feed from Sandra Lopez, who runs global marketing at Intel and has been a leader in Intel's push into fashion and wearables. Here's the post:
Sitting with 2,500 predominate female group trying to change females in corp America. Male friends - male dads with daughters and soon to be male dads of daughters - I CHALLENGE ALL OF YOU TO STEP UP AND DRIVE THE CONVERSATION!!!!!! I want a male to be the person driving the conversation. #men4womanequality
The Accountability Gap is the space between what clients think is possible and what agencies can deliver in terms of measurable digital marketing results. Can offline sales be directly linked to a given campaign? If so, how far can one break down the data? To the level of specific given impressions and engagements? If so, how actionable is that information?
All empires must end. And if living through the last 20 years has proved anything it's that the rise and fall of tech empires are escalating at an alarming rate. This is no more evident than in the world of social media and mobile applications.