Fellow Media Professionals, Lend Me Your Ears for 3 Minutes

By Jack Myers ThinkTank Archives
Cover image for  article: Fellow Media Professionals, Lend Me Your Ears for 3 Minutes

Fellow media industry professionals lend me your ears for 3-minutes to tell you a story about growth. For the past several years, I've channeled my experience, industry knowledge, relationships, plus $20 million to convert decades of research into actionable tools for driving advertising growth. Many of you have partnered with me through MediaVillage membership. I'm proud to report that the results are in.

LISTEN TO THE PODCAST HERE

Although analysts, pundits, forecasters, and consultants are drowning us in negativity, to me the path to advertising industry growth has never been more clear or more opportune.

MediaVillage has identified and tested solutions and tools in real-time over a decade … and they work. We've scaled them, built collaborative integrated processes, and created cost efficiencies through collective industry-wide activation. We've defined your way forward for generating double digit increases in EBIT and we have the report and data to prove it. (Read this report for documentation.)

In sixty seconds of reading, I'll share five questions that define if the solutions I've built can contribute to your company's growth.

  • Are you satisfied with your current sales growth rate?

The advertising economy has been declining for more than a decade and is forecast to decline 1.5% annually through 2030 (excluding Google, Facebook, Amazon, and commerce-dependent spending).

  • Do you agree that better and frequently updated knowledge of your competition and your market value is required?

Growth is dependent on share shift and budget reallocation in a fast-changing and increasingly commoditized, transactional, and competitive ecosystem.

  • Do you agree that you can't afford to be complacent with your organization's results in D-E-I?

When it comes to advancing diversity, equity and inclusion our community's failures are an embarrassment. Multiple initiatives, programs, and non-profits – all operating independently and without coordination – have failed to produce any meaningful long-term industry-wide advances.

  • Have your investments in B2B marketing and communications been updated to respond to your customer realities?

It's likely that your investments are outdated and irrelevant.You may not be aware that research budget owners at the top 300 national advertisers invest less than 2% of their time on media-related issues and decision-making and rank media at the bottom of their priorities. They spend 0% of their time reading media and advertising trade publications and attending industry events. (CMOs do not control budgets.) At media agencies and research influencers at media sales organizations, almost 65% of employees are under 30 and have locked into legacy relationships for their decision-making.

  • Finally, is it okay that every part of the media and advertising business is being reinvented except ad sales?

It's time. Media companies invest far less than almost every other major industry in B2B marketing intelligence, communication, and brand building – only 2% to 8% of total company budget vs. 10% to 18% by non-media companies. If you can't increase your investments, at least review, reallocate and reinvent how they're working to generate growth.

If you're answered yes to at least three of my questions, I want to tell you about MEDIAVILLAGE 2030, and how MediaVillage membership supports your growth by updating and modernizing your B2B marketing communications, competitive intelligence, talent development, educational tools and D-E-I programs. At the very least, you and your colleagues should be aware of the updated MediaVillage leadership resources and tool kit for growth at AboutMediaVillage.com.

Join me on the fascinating media journey at my new Jack Myers ThinkTank podcast and I hope to hear from you at jack@mediavillage.com or @jackmyersbiz.

Copyright ©2021 MediaVillage, Inc. All rights reserved. By using this site you agree to the Terms of Service and Privacy Policy.