I recently attended Advertising Week in New York City and had a lot to hear from some very eloquent speakers. Here are the top 10 moments that I found to be inspiring, provocative or at least original.
(10) Changing Roles: It seemed to me that change was a prevalent theme at the conference and that all participants expressed a willingness to reconsider what roles their companies should be playing.
- Given the freedom of digital distribution, marketers are beginning to produce their own content.
- Given commercial skipping and other market pressures, media companies are beginning to integrate marketing messages into their programming.
- Given the economic demands and their talented personnel, agencies are beginning to develop their own products or services, similar to “private labels” at department stores.
Everywhere the status quo is being questioned and resources are being redirected. Still, the norm is established for a reason and as Rob Norman CEO of GroupM put it, agencies exist for the creation, distribution and measurement of brands and messages across various media, and it seems to me that this is value that marketers will need for some time to come.
(9) Ad Spending: Subsequently, despite the economic downturn and cuts in certain media overall ad spending can still be expected to grow roughly along with the GDP at 1 to 2% per year. Ad spending will fragment however among more media platforms and channels, and this increased competition will yield a greater “purchasing power” for advertisers; a “bigger bang for their buck” in other words.
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