Old School Ad Execs Sweat as Data Geeks Displace Them

With a sense of wry review to a reasonably interesting article in today's WSJ (by Suzanne Vranica and Christopher Stewart--one that profiles the certainly-changing advertising industry landscape, and the diminished roles of wannabe Don Draper-types, below is one of several dozen comments posted to the WSJ online version of the article:

Accusing the ad industry's embracement of technology for being the cause of the downfall of martini-drinking creative geniuses in the ad industry makes for a great story, but the lamenting by those profiled in the article, i.e. those who find themselves without a seat is part sour grapes and part "I'm in the 80-20 Club" mindset...i.e. those that thought punching a clock without being truly relevant was a ticket to that second home in Aspen.

To best frame my observations re: a good snapshot, I should first preface that I speak from perspective of someone who spends considerable time on the fringes of Don Drapper’s Madison Avenue—but only after a more-than 15-minute career within the bowels of Wall Street, where my role as a “exchange floor specialist” had me bringing buyers and sellers together.  That role has long since become “electronified” and to a great extent, very specific human tasks associated with that role have been diminished, and in many instances, extinct from human interaction.

As poignantly observed by one creative blogger’s posting immediately subsequent to the announced merger between Publicis and Omnicom, the CEO of Omnicom referenced the combination of these two firms akin to building the next NASDAQ Stock Market; which was actually a somewhat narrow view of how the advertising industry will likely evolve.

Two of the 2 dozen online comments posted below your website edition of today’s article—those made by Mssrs. John Hooper and Bill Brown-- were perhaps the most well-thought out.

Notwithstanding the evolution of the global equities markets, the role of those who provide marketplace insight has remained a critical component. Buyers responsible for allocating significant capital remain reliant on trusted relationships, albeit those folks now necessarily need to be equipped with metadata talking points; but the human relationship remains paramount.

The buying and selling of highly-commoditized products obviously lends itself to automation and “AI”. Mid-level ad buyers will deservedly need to re-tool or seek other roles; much of what they do is better done via transparent electronic platforms. But, the creation of compelling, response-inspiring ad content that must not only conform to microscopic-sized screens or 70-character shout-outs or single images, but actually convert the viewer into an on-line shopper is, in this opinionator’s opinion, a holy grail that is still far from the reach of ET, AI or any other form of unearthly intelligence. The odds of someone introducing an insertable device that prompts delivering electronic messages to the brain that in turn, causes purchases to be made, are less slim than any AI will create crisp content that compels a call to action. Caveat: Simple phrases like “Buy this now, you schmuck! Because you deserve it!” will still inspire broad brand recall and the consumption of billions of dollars worth of burgers, cigarettes and booze.

The take-away: much like the way computer algorithms have become a defacto part of the financial market world of buying and selling, and much like similar tools and processes since embraced in other industries, the buying and selling of mid-level advertising placement budgets will be consigned to computers. The ability to deliver content that (I) creates recall and (ii) most importantly--converts into consumption within a new “Honey I Shrunk The Kids” landscape is wear the rubber will meet the road for those neuroscience-induced lab rats hiding behind quant guru pocket protectors. 

Delivering the right ad at the right time to the right place is as simple as securing an exclusive sponsorship deal with FB; tell me your story and why I should buy you within a 1 inch square space is not going to happen easily or quickly. And just as important, bulge bracket buyers—those allocating tens of zillions of dollars are always going to require a big fat, medium-rare steak..and ideally, front row seats at the next Knick game. The Advertising King is Dead, Long Live the King. 

P.S. Facebook actually doesn’t seem to have ‘exclusive sponsorship’ opportunities—such as a flower industry sponsored call to action that any marketing guru would expect to appear within the same ‘alert notification’ that’s displayed when  your mom, your daughter, your wife, your girlfriend, your mistress is about to celebrate a birthday or other occasion. “Today is your mom’s birthday—click here for the Facebook Endorsed Florist—It’s Low-Priced and High Quality!”… Trust me when I suggest that a computer can’t come up with that idea and a computer can’t pitch it to the knuckleheads at FB that think they’ve now got their mojo in mobile. 

       

Jay Berkman

JLC Group

Mad Men and Hedge Fund Marketing: Let The Games Begin

Courtesy of Huffington Post column re Hedge Funds Can Now Engage Mad Men: 
Mad Men, the wildly popular AMC TV show about the fictional 1960s advertising agency Sterling Cooper Draper Pryce, is set in a haze of cigarette smoke, alcohol and chronically inappropriate behavior. Hedge funds, dating back to a similar era, have remained equally hazy to most Americans, as well as often being equally off-center in their behavior.

Today, as a result of the JOBS Act (Jump-Start Our Business Start-ups), hedge funds are now allowed to advertise their products through the mass market. And, to further confuse consumers, hedge funds come in all flavors, all shapes and sizes. Speaking of them as a single asset class is akin to going to the zoo and telling the zookeeper, "I'm here to see the animal."

We love creative marketing..and for you hedgies looking to hedge with a boutique outfit that walks, talks and knows Wall Street inside and out, here's a short selection of OUR recent favorite ads 

#MadMen Return Inspires Nostalgia-Style Ad campaigns

"..Nostalgic cues in advertising do indeed influence the type of thoughts consumers have during ad exposure, and that these thought processes appear to have an influence on attitudes toward the advertisement and advertised brand.."

The above excerpt is courtesy of a 2004 white paper appearing in the Journal of Advertising, and is presumably  one of many cues that the creators of the hit AMC show "Mad Men" sought to exploit when writing their first outlines for that show.  We know for a fact that the producers were particularly mindful when digesting the 1991 Miami University white paper "Use of Nostalgia in Television Advertising" with the abstract:  

Nostalgia was used by means of theme, copy, or music about 10% of the time according to a content analysis of more than a thousand commercials sampled from ABC, CBS, and NBC. Nostalgic references were to family activities or to the “olden days,” among other themes, and were most likely to be used with food and beverage commercials. The study suggests nostalgia may be especially important in a changing world because it connects us with our past.

This 'theme' in advertising is as ageless as the Coca-Cola logo, if not always used as propitiously as planned (e.g. Honda's 2012 SuperBowl ad featuring Matthew Broderick aka Ferris Bueller).

And, as TV watchers, advertising industry fans, and brand marketers are all aware, "They're baaackkk..", and the new season of Mad Men is accompanied by among other initiatives, a special edition of Newsweek Magazine populated with art-deco style ads and throw-back images and slogans, to an assortment of ad campaigns in a host of mediums courtesy of a broad spectrum of brands that seek to exploit/leverage/capitalize on an approach that touches the individual yearning for an idealized past.

The buzz words spewing from the mouths of your favorite ad strategists are flying faster than a buzz saw right now; "nostalgia", "vintage", "brand heritage" are just a few, but let's be as clear as the black and white films of yesteryear; this blogger LOVES leveraging nostalgia within brand marketing, advertising or any other tactic that captures mind share.

A good update on the state of old images and new ideas courtesy of the New York Times is right here.