This is taken from a post in Forbes.com. It’s my first article as a contributor:
Each year the fall rolls around. Summer tans have faded. Marketing planning begins. Here’s the sequence: Agencies get briefed, ideas are presented, concepts get developed, creative gets shot, media gets bought, ads run, results get measured, and (maybe) awards get submitted. Celebratory dinner with the requisite toasts and back slapping. Fall rolls around again. Lather, rinse, repeat.
This is traditional marketing. A phenomenon that Seth Godin labels the TV-industrial complex. The only problem is that it doesn’t work as well as it used to. Or in some cases it doesn’t work at all.
Who’s to blame for the campaign based mentality? Is it the brand or is it the agency? Who is going to break the cycle of TITWWADI (This Is The Way We Always Do It)? When is this Einsteinian version of insanity going to stop? It’s hard to blame the agency. You can’t expect them to change if their entire business model is predicated on not doing so. Perhaps it’s up to brands to break the cycle.
Are there companies willing to change? Maybe the Price is right. In a recent Forbes interview the CMO of CVS Rob Price describes how they are making the shift:
“We’ve gone through a real transition. In the seven years I’ve been here, we’ve moved from being more of an Advertising and Promotions department to really being an Insights to Action function.. That changes your focus substantially. But of course we still do the advertising, marketing and promotional accountability, that’s our functional expertise… We’ve reduced degree of traditional advertising that we’ve done. Because we’ve found, and maybe it stems from our advertising roots. Advertising is about frequency and reach. Well, we have 35 million people coming into stores every week. Tens of millions with our mail-order pharmacy and with our prescription benefit management. So if you monetized, if you put into traditional advertising terms, all of those are exposures or impressions. The media in our operating environment is thousands of stores, hundreds of thousands of people, serving millions of customers, creating billions of interactions. It’s very large numbers and we’ve decided to harness the energy of the marketing team in collaboration with IT, Store Operations and Digital.”
Read the full post (including lessons from Steinway and Elvis) by clicking here