As Trading Systems Multiply, Media Industry Must Refocus on Relationships

This commentary is excerpted from Jack Myers39 1998 book Reconnecting with Customers Building Brands and Profits in The Relationship Ageamp174 Originally Published in 1998 Massmarketers will continue to adopt online methods of marketing communications to extract new efficiencies in directly reaching their consumer targets Disintermediation is going to affect consumer markets and it is also affecting businesstobusiness markets such as advertising and media buying Ultimately the speed of that disintermediation will be determined by each industry39s acceptance of information and trading technologies However resistant industries might be such progressions are inevitableI foresee a simultaneous evolution in the media and advertising industries of both efficient online trading systems and enhanced brand and marketingoriented relationship building This will result in two diametrically opposed marketplace dynamicsamp183 commodity trading the creation of fully automated and programmed online trading marketplaces for the most commoditized of buysamp183 valuebased relationship management increased dialogue and interaction to establish longterm relationships directly between businesses and their customers with the goal of differentiating one company39s marketing capabilities and brand values from the homogenized system of commoditized interactionsFor customers the challenge will be to relate to these paradoxical dynamics byamp183 developing capabilities that encourage support and reward their suppliers39 initiatives to develop and enter into marketingbased relationshipamp183 aggressively supporting and advancing systems to take advantage of electronic purchasing and assuring that they adapt to a market that will almost certainly become more automated as the Internet and interactive media developThe key for generating value for both buyers and sellers will be the degree to which they can facilitate processes that build direct and relevant relationships with customers and suppliers in an era of increasingly automated exchanges that serve to commoditize the marketplaceFor more than two decades Jack Myers has been the media industryamp8217s leading analyst researcher and advisor on relationships among marketers agencies and media sellers providing business development services and custom insights on relationship best practices to more than 250 companies Jack39s stunningly visionary perspectives from 1998 focus on the emergence of a new age in media and advertising an age that would be defined by both advanced technology and enhanced relationships To obtain a full copy of The Relationship Age series or to discuss Jack39s consulting and advisory services contact jmjackmyerscom The Relationship Age is a registered trademark of Jack Myers

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As Trading Systems Multiply, Media Industry Must Refocus on Relationships

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As Trading Systems Multiply, Media Industry Must Refocus on Relationships

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