The future of advertising is too fast, too furious | Stelios Anastasiades | TEDxUniversityofNicosia
Summary
TLDRThe video script discusses the rapid pace of change in the advertising industry, driven by technological advancements that have transformed consumer behavior. It highlights the challenge of standing out in a saturated market where most advertising goes unnoticed, and brand loyalty is on the decline. The speaker emphasizes the need for companies to reinvent themselves and their strategies frequently to stay relevant. Creative approaches, such as GEICO's unskippable ad and Pepsi's silent spokesperson campaign featuring Marshon Lynch, are presented as examples of innovative marketing that breaks through the noise. The importance of data analytics and adapting to new platforms like social media is stressed, along with the necessity for agility and continuous reinvention in the face of an unpredictable future.
Takeaways
- 🍸 The advertising industry is fast-paced and can involve a hectic lifestyle, with the speaker humorously mentioning having three martinis with breakfast to illustrate the point.
- 🚀 Technology has significantly changed how we live, work, and shop, leading to a fast and furious marketing landscape where consumers are overwhelmed with choices and messages.
- 📉 In the UK, less than 3% of advertising is remembered positively, highlighting the challenge of standing out in a saturated market with high-quality creative advertising.
- 🔄 Brand loyalty is not as strong as it used to be, with 89% of people believing that the brands they use are as good as any other, leading to a focus on immediate market penetration over long-term brand building.
- 🔄 Marketing strategies and brand identities are changing rapidly, creating a vicious cycle where constant change leads to less memorability and weaker brand positioning.
- 📈 Core competencies have an expiration date; companies must adapt and evolve their core competencies to stay relevant, as illustrated by the examples of Apple, Nokia, and Google.
- 📉 Companies that fail to adapt to technological changes, like Kodak and BlackBerry, can quickly become irrelevant, even if they were once market leaders.
- 🔄 The CEO of BBDO Worldwide emphasizes the need for constant reinvention in the advertising industry, stating that agencies must reinvent themselves every five years to avoid becoming obsolete.
- 🌐 The future of advertising is digital content, but it's crucial to use digital media correctly and not just repurpose traditional ads for digital platforms.
- 📊 Data analytics is key to understanding what works in advertising and why, allowing for more effective and intelligent content creation.
- 📺 Creative examples like GEICO's unskippable ad and Pepsi's silent video with Marshon Lynch demonstrate the power of thinking outside the box and leveraging unique insights to create memorable advertising.
- 🔄 The advertising industry must embrace instability as the new norm, constantly adapting, taking risks, and being open to new ideas to succeed in a fast and furious environment.
Q & A
What is the main issue with the current pace of advertising and marketing communications?
-The main issue is that technology has significantly sped up the pace, leading to confusion among consumers who are overwhelmed by too much choice and too many messages, resulting in a majority of advertising not being remembered positively.
What percentage of advertising in the UK is remembered in a positive way?
-Less than 3% of all advertising in the UK is remembered in a positive way.
What is the impact of rapid change in marketing strategies on brand loyalty?
-Rapid change in marketing strategies, including frequent alterations in brand positioning and taglines, has led to a decrease in brand loyalty, with most consumers believing that different brands are equally good.
What is the term used to describe a company's ability to do something really well?
-The term used is 'core competencies'.
Why did Apple change its name from 'Apple Computer' to 'Apple Inc'?
-Apple changed its name to reflect the realization that they were not just about computers, but also about their operating system and the ability to cross platforms in different technologies.
What happened to Nokia as a result of not adapting to technological changes?
-Nokia, once a leader in mobile telephony, disappeared from the market because they failed to move with technology and the times, eventually facing bankruptcy and being sold.
What was the BlackBerry's status in 2007?
-In 2007, BlackBerry was the number one smartphone used by professionals.
What is the significance of the 'unskippable ad' created by The Martin Agency?
-The 'unskippable ad' is significant because it breaks the norm of pre-roll ads by being entertaining and engaging within the first few seconds, thus encouraging viewers to watch the entire ad instead of skipping it.
What is a common characteristic of Facebook video views that advertisers need to consider?
-80% of Facebook videos are viewed without sound, which means that advertisers need to create content that can convey the message effectively without the need for audio.
What is the importance of data analytics in creating effective digital content?
-Data analytics is crucial as it helps in understanding what works and why, allowing for the creation of 'intelligent content' that is more likely to yield positive results.
What advice does David Lubars, the Chief Creative Officer of BBDO Worldwide, give for coping with the fast and furious pace of change in advertising?
-David Lubars advises that agencies should not let themselves become rigid but remain adaptable and open to new things, constantly reinventing themselves every five years, and making use of data analytics to stay ahead.
Why is it important for companies to redefine their core competencies regularly?
-Redefining core competencies is important to adapt to the rapidly changing business environment, ensuring that companies stay relevant and competitive by focusing on what they do best and evolving with technological advancements.
Outlines
😀 Fast-Paced Advertising and Its Challenges
The first paragraph discusses the fast-paced nature of the advertising industry, often depicted as hectic in media. The speaker admits that this portrayal is accurate, with a nod to the excessive pace and the influence of technology on consumer behavior. The rapid changes in technology have led to a marketplace that offers too much choice and bombards consumers with messages, leading to a situation where only a small fraction of advertising is positively remembered. The UK, despite having a sophisticated market and excellent creative advertising, sees less than 3% of ads remembered positively. Brand loyalty is also on the decline, with most people believing that brands are interchangeable. This has created panic and anxiety among marketing directors, who are more focused on immediate penetration than long-term brand building, leading to a vicious cycle of frequent changes in strategies and messaging that consumers do not remember. The concept of core competencies is also discussed, with examples of companies like Apple, Nokia, and Google evolving their core focus to adapt to changing times. The paragraph ends with a cautionary tale of brands like Kodak and BlackBerry that failed to keep up with technological advancements and subsequently lost their market dominance.
🔄 Reinvention in the Digital Age of Advertising
The second paragraph emphasizes the need for constant reinvention, especially in the advertising industry. It highlights Steve Jobs' ability to reinvent Apple and multiple industries multiple times. The CEO of BBDO Worldwide stresses the importance of reinvention every five years, even for an advertising network that is not a tech company. The paragraph touches on the future of digital content and the need to use it correctly, rather than just replicating TV ads on social media. It introduces the concept of 'content intelligence,' which combines data analytics with creative content to produce effective advertising. A creative example is given, where The Martin Agency created 'unskippable ads' for GEICO that were entertaining and engaging, making viewers want to watch instead of skipping them. The paragraph concludes with the idea that such innovative approaches to digital media are necessary to stand out in a crowded marketplace.
🚦 Adapting to the Silent Majority on Social Media
The third paragraph focuses on the reality that a significant portion of social media content, particularly on Facebook, is consumed without sound. It points out that most Facebook videos play silently until clicked on, and many users do not interact to enable sound. This insight should inform the creation of video content that can convey its message effectively without relying on audio. An example is given of a campaign featuring Marshon Lynch, an American football player known for his reticence. The campaign played into his reputation for silence, making it intriguing when he appeared in an ad for Pepsi without speaking, which garnered significant attention. The paragraph concludes with the advice from David Lubars, Chief Creative Officer of BBDO Worldwide, on the importance of remaining adaptable and open to new ideas in the face of rapid change. He suggests that agencies should not become complacent but should continuously evolve and innovate to stay relevant in an industry characterized by instability and rapid shifts.
Mindmap
Keywords
💡Advertising
💡Technology
💡Consumer Choice
💡Brand Loyalty
💡Core Competencies
💡Data Analytics
💡Content Intelligence
💡Unskippable Ads
💡Social Media
💡Reinvention
💡Digital Content
Highlights
Advertising is a fast-paced and hectic business, with a lifestyle that is often portrayed in movies and television shows.
The speaker admits to having three martinis with breakfast, emphasizing the high-stress nature of the industry.
Marketing communications are becoming too fast and furious due to technological changes affecting consumer behavior.
Consumers are overwhelmed with choice and bombarded with messages, leading to a lack of brand loyalty and memory.
In the UK, less than 3% of all advertising is remembered positively, highlighting the issue of 'invisible advertising'.
89% of people believe that any particular brand they're using is as good as other brands, indicating a shift in brand perception.
Marketers are more focused on immediate penetration than long-term brand building, creating a vicious cycle.
Core competencies now have an expiration date, as companies must adapt to changing technologies and market demands.
Examples of companies like Apple, Nokia, and Google show how core competencies can evolve or become obsolete.
Kodak and BlackBerry are cited as examples of brands that failed to adapt to technological changes and lost market leadership.
Steve Jobs is praised for reinventing Apple multiple times and revolutionizing various industries.
The CEO of BBDO Worldwide emphasizes the need to reinvent oneself every five years to stay relevant in the advertising industry.
Digital content is the future, but there's a call to rethink and reinvent digital media to avoid becoming invisible or uncool.
Data analytics and creative collaboration are key to creating 'content intelligence' that gets results.
85% of YouTube pre-roll ads are skipped, prompting the creation of more engaging and unskippable ads.
The Martin Agency's unskippable GEICO ad is an example of innovative advertising that breaks the norm.
80% of Facebook videos are viewed without sound, which should influence how marketers create video content.
Marshon Lynch's Pepsi ad is a creative example of how to engage viewers without relying on sound.
Agencies must remain fluid and adaptable, constantly reinventing themselves to cope with the fast and furious pace of change.
The future is unpredictable, but embracing instability and being open to new ideas is crucial for success in advertising.
Transcripts
[Music]
all right I'm sure you all have some
impression of how advertising is uh a
fast-paced and hectic business you've
seen movies you've seen television shows
of our crazy lifestyle and I'm here to
tell you that that's all true I had
three martinis with breakfast before I
arrived here this
morning um I'm also here to tell you
that it's becoming too fast and Too
Furious in fact all marketing
Communications are becoming too fast and
Too Furious the reason for that is
simple technology has changed the way
that we live the way that we work the
way that we shop and what that does is
basically creates a lot of confusion
with um consumers being offered too much
choice and they're bombarded with too
many messages very few of which are
being are registering or being
remembered this is a slide that shows
that in the UK less than 3% of all
advertising is Remembered in a positive
way what's important about this is that
the UK is a very sophisticated Market
with very very good creative advertising
brilliant creative advertising so 90
97% is not registering is not being
remembered it's what we call invisible
advertising or it's registering in a
negative
way brand loyalty is not what it used to
be 89% of people believe that any
particular brand that they're using is
just as good or the other brands are
just as good as the brand that they
choose 70% of car own owners will not be
repeat buyers of the same
brand chocolate lovers love a particular
brand but they don't always buy the same
brand so what does this do to marketing
directors it creates a lot of panic it
creates a lot of anxiety marketers are
more interested in penetration today
than in brand
building and that creates a vicious
cycle we used to build a brand identity
that we thought would last a lifetime
today marketing strategies brand
strategies positioning campaigns even
taglines are changing on the campaign by
campaign
basis they're changing faster and more
furiously than ever and that creates a
vicious cycle the more we change the
more we use different approaches
different platforms different
positioning different taglines they're
not
remembered core competencies now have an
expiration date what do we mean by core
competencies a company that knows what
to do something really well that's their
core competency when they get involved
in different businesses and they start
to have problems we say refocus come
back to your core competencies but what
are core core competencies today ask
Apple Apple computer they used to be a
computer company they took out the word
computer and now it's Apple Inc because
they realized they weren't just about
computers it was their operating system
they could cross Platforms in different
Technologies Nokia their core competency
the biggest the leader in t in Mobile
teleph they're not around anymore they
were sold they were about to go bankrupt
what was their core competency Google a
search engine that's their core
competency but now they're making
Android telephones they're making uh
streaming devices they're making tablets
they're making all kinds of things
they're making
software and what about this Kodak which
which was an iconic brand for so many
decades one of the strongest brands in
the world for so many decades
disappeared because they didn't move
with technology they didn't move with
the times do you remember this it looks
like something from another era it's the
BlackBerry in 2007 it was the number one
smartphone used by
professionals the number one smartphone
used by professionals and all of these
the market leaders where are they today
Palm do you remember
Palm in 2006 a company called Myspace
was bigger than
Google and within two years they became
irrelevant by 2008 they became
irrelevant Facebook was not relevant in
2006 yet so these are Fast Times these
are Furious times to be a brand leader
to be a market leader a category leader
and to disappear within 2
years is Fast and
Furious Steve Jobs was famous for
co-founding Apple but he's actually more
famous for Reinventing Apple several
times he reinvented Apple at least three
times within his
lifetime and at the same time he changed
the computer business the music business
telecommunications photography and
entertainment he completely changed
these
industries this gentleman is the CEO the
president and CEO of bbdo worldwide he
told us recently that we have to
reinvent ourselves every 5 years we're
not a technology company we're an
advertising Network we're an advertising
company and he's telling us we have to
reinvent ourselves every 5 years or
disappear this is a sign of the times
that are fast and furious
the future of course is digital content
right we all agree on that everybody's
doing it everybody's using it we all
agree 5 years ago 6 years ago 10 years
ago we weren't so
sure is it really the
future I want to provoke you into
thinking that we're not using it
correctly we have to rethink and
reinvent digital media
or it's going to be useless because
everybody's doing it and everybody's
doing the same thing it's not about
putting an ad that you created on
television and putting it in social
media and expecting to get the same
results simply because you got a few
likes from friends and you think you're
going to get results the internet is a
totally different way of working for us
it's a total totally different way of
communicating with
people and we have to take advantage of
that it's all about data analytics
knowing what works and why knowing what
works and why you don't just take an ad
a campaign that was done on TV and slap
it in social media there's a coolness
factor with social media and if you're
not cool you don't become invisible like
you would in other media you become
uncool you're branded on cool so you
have to be careful about what you
do data analytics with great creative is
the perfect example of the right brain
left brain working together it's knowing
what works how it works and using great
creative it's the killer combination
it's what we call content intelligence
not just having
content but having intelligent content
content that's going to get results now
here's a fun
fact 85% of YouTube pre-roll ads you all
know what pre-roll ads are you go on
YouTube and you search for something
that you want to see and instead of
watching what you want to see you have
an ad that you're forced to watch and
these ads play for 5 seconds or 10
seconds depending on the platform right
and you're confronted with this little
button here that says skip the ad after
that time frame but you cannot skip it
before that time frame if it's 10
seconds what do marketers do they try to
cram as much information as possible
within that first 10 seconds and what
does that do it makes for very annoying
adver
ading it makes for very annoying
advertising so one company in the US
called The Martin Agency created What's
called the unskippable ad instead of
doing the norm instead they they did
something break through they thought how
can we overcome this situation where
people at 10 seconds are going to skip
the
ad how are we going to do it we have to
entertain them in some way we have to
think of a way that's going to keep them
watching watch this ad please don't
thank me thank the savings you can't
skip this GEICO ad because it's already
over Geico 15 minutes could save you 15%
or more on car
[Music]
insurance but it's not
over and you continue to watch and
you're entertained and you're smiling
and I hear people
laughing and that's what it's all about
making you feel good and wanting you
getting you to want to watch this
ad instead of
skipping people are actually telling
their friends hey did you see this ad go
to YouTube and watch this
ad and it goes on and on and on and you
can they created a whole series of these
and it won all kinds of awards at cons
this year simply because it broke the
rule of the skippable
ad here's another fun fact 80% of
Facebook videos are viewed without sound
do you know that 80% of V of Facebook
videos are viewed without sound because
when they're on your timeline they play
without sound until you click on them
and then they will play with sound now
most people don't bother to click and
unless it's something really really
important to them they won't click but
they might watch it without sound so if
you have that Insight if you have that
knowledge you can create creative that
is going to work even without
sound this was done by bbdo in New York
this was a spokesperson why would you
put a
spokesperson in an ad that's going to be
viewed without
sound that sounds silly this is Marshon
Lynch he's a famous American football
player
and he's known his nickname is the
Beast he doesn't like to talk in fact
very few people have ever heard him talk
at all he has been fined by the National
Football League for not giving
interviews and he has this reputation of
not talking so when it went on YouTube
and this played in all platforms it
played on television as well when it
when it went on YouTube everybody was
curious to see what is Marshon Lynch's
voice like
so when it played Without
sound sorry not changing when Pepsi
approached me about being their
spokesman I said I don't know I don't
really like to speak so they said well
Pepsi's all about trying something new
give it a shot so I said okay as long as
I don't have to speak and they said okay
would you at least move your
lips glug glug glug glug look look look
look
look speech mode
boss any me speaks in the end you hear
his voice for two
seconds um with this Insight we can
reink storytelling and turn it into
story showing another way of overcoming
the silent videos story showing here's
an example
[Music]
it's working okay it's much nicer with
the sound but you can get a message
across for YouTube if you do it
correctly without sound
now here's here's the trick if everybody
starts doing this with Graphics then
you're going to get bored with watching
lots of videos so you have to constantly
rethink reinvent recreate new
breakthrough ideas and that's why we
have to reinvent ourselves every five
years this is uh the chief executive
officer Chief creative officer of bbdo
worldwide his name is David lubars he's
a very animated person you can see from
his photograph and when asked about the
future in advertising he said this I
never position myself as a futurist I
don't believe other futurists who think
they can predict the future when asked
how can we cope with this new Fast and
Furious situation he said agencies
should not allow themselves to let the
cement Harden around
them you're supposed to keep stirring
and remain
liquid to open to be open to all these
new things that will present themselves
El and that's what it's all about we
cannot really know what's going to
happen 5 years down the road but we have
to be able to keep moving along with
everything that's happening instability
is the new Norm in our business
instability we have to deal with it by
anticipating change by making long-term
planning into the short term learning to
adapt and take risks make fast and
furious turns redefine core competencies
every five
years make good use of data and data
analytics and whatever is working now
fix it
anyway because the future is too fast
and Too Furious I thank you very much
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