Accountability and a New Vision for the Upfront. Part 3 of Jack Myers' 2003 Vision for the Future of Media and Advertising

In 2003 I met with a group of my clients and followers and shared my vision for the future of media marketing and advertising The following Classic Jack commentary is excerpted from that presentation Read Part 1 and 2 at wwwjackmyersclassicjackcom Forward thinking media companies are already shifting their obsession away from eyeball delivery and toward identifying their clientsamp8217 best customers understanding their needs and building customized marketing relationships with them In the digital age the tools will be available to place more focus on returnonmarketing investment decisionmaking based on cost efficiency and mass reach alone will no longer be acceptable These issues and opportunities may seem far off amp8211 remote from the daytoday realities youamp8217re dealing with But one issue that seems to be on the top of everyoneamp8217s mind these days in media and advertising is accountability Accountability is the most important word in business today whether itamp8217s accountability of CEOs to shareholdersamp8230 accountability of media companies to deliver measurable returnoninvestmentamp8230 accountability of corporate procurement agents to deliver maximum cost efficienciesamp8230 or your accountability to deliver on your goalsSo letamp8217s talk about the Upfront Itamp8217s become pop culture just a few years ago anyone outside of the TV advertising business and even many people in our business never heard of the Upfront In the next few months the general consumer press will regularly update readers on Upfront spending Wall Street analysts track Upfront and scatter markets as closely as they track commodities on the Chicago Mercantile Exchange And at the same time thereamp8217s pressure from inside the industry to dismantle or at the very least dramatically alter the Upfront with experts arguing itamp8217s broken Personally I believe the Upfront works extremely well and serves the longterm interests of marketers agencies and TV networks You develop your promotion plans sales strategies event programs and marketing plans at least eighteen months in advance Rather than assuming the Upfront is broken why not consider a five year transitional plan to focus the Upfront dealmaking process on relationships between marketers and media amp8211 all media Return the Upfront to its original roots identifying the crossmedia and promotional deals that best help sell products For the past three decades at least the fundamental skills and qualities required to be an advertising executive have been changing as media and marketing have transitioned from the industrial age mass focus to the Relationship AgeIn 1969 the 1 best selling business book was amp8220The Peter Principleamp8221 The Peter Principle said amp8220in a hierarchy every employee tends to rise to his level of incompetenceamp8221 Before amp8220The Peter Principleamp8221 attacked the concept people actually aspired to reach their level of incompetence It was like a gold watch signifying survival and achievement Maybe the publication of amp8220The Peter Principleamp8221 was the beginning of a new age when corporations and executives could no longer tolerate redundancy amp8211 the same decisions year in and year outamp8230 precedent and tradition became less reliable guides for decisionmakingamp8230 we could no longer assume the future would have some resemblance to the pastamp8230 and we really had to take risks and make changes if we wanted our businesses to grow Corporations can no longer tolerate executives who have reached their Peter Principle or who keep it simple and this is a real change in business Thatamp8217s not to say incompetence doesnamp8217t exist anymore But as a media buyer or planner amp8211 or salesperson you need to competently deal with a constant barrage of new challengesBusiness especially the media business is not simple Incompetence can no longer be tolerated To the smart go the spoils One of the biggest and most important changes that technology is empowering in your business is improved intelligence for making smart decisions Weamp8217re transitioning from basic scans of TV and radio audience size total magazine readers to deep sonar readings that will help us navigate new media consumption patterns You will have a wealth of access to insights and knowledge that will empower expanded and enlightened thinking You will have the ability to be clever creative and think out of the box with minimal risk and maximum confidence You need to look toward the future with assurance that thereamp8217s a better way of doing things than the way youamp8217ve always done them And if you develop your ideas youamp8217ll have resources to justify new approaches that may be complex but will be smartJack Myers is available to present his vision for the future of media advertising and marketing at your corporate meetings and events Contact jmjackmyerscom and visit wwwjackmyerscom for more informationamp160amp160amp160

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Accountability and a New Vision for the Upfront. Part 3 of Jack Myers' 2003 Vision for the Future of Media and Advertising

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Accountability and a New Vision for the Upfront. Part 3 of Jack Myers' 2003 Vision for the Future of Media and Advertising

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