I've written frequently that "change" is an over-used word. In a business plan I wrote in 1980 when I was an executive at CBS-TV, I emphasized the need for change, as emerging technologies such as cable impacted our businesses and revenue models. Before and since, there has been non-stop change in the media and advertising business. Do you remember any time in your career when change has not been an industry mantra? "Transformation," "Transition," "Reinvention." All over-used and redundant. But today, unlike just a few years ago, patterns are emerging that inform us how to change, that empower us to form a reasonably reliable vision for the future, and to adapt our businesses and revenue models accordingly. Here are five future looking trends in media and advertising that we can confidently incorporate into our strategic planning, organizational restructuring and investments.
- The next wave of corporate power will be under 28, female and multi-cultural, at least for those companies and industries visionary enough to hire, support and advance them quickly into decision-making responsibility.
- The Future of Men is an emerging issue for media, marketing, content (especially television), advertising, and society. As a multi-gender/multi-cultural workforce expands, there will be growing recognition of the fascinating and rapidly changing realities of being a man today.
- Brand equity valuations will be increasingly impacted by brands' exposure in social media, with employees and customers having a direct and unfiltered voice in public communications.
- Companies will invest more in training, education and re-education at all employee levels.
- Companies will invest significantly in employee loyalty and retention initiative
Read the other trends here:
1 - AGENCY AND MEDIA REALIGNMENT AND REINVENTION
2 - REINVENTING CONTENT
3 - NEW OWNERS, NEW PLAYERS, START-UP BOOT HILL
4 - DATA, BIG DATA AND EMOTIONAL DATA