Last week our CEO, Lance Neuhauser, presented to a room full of senior marketers at the ANA Brand Masters Conference in Miami.
The topic was “The Future of Media” and the content was well-received so I figured others out there might benefit from seeing it.
So here it is in all it’s slideshare glory and below the embed is a quick summary:
Before talking about the current and future state of media, let’s look at the past.
How did we get here?
- Advances in bandwidth – mobile data traffic has grown 400m times in the past 15 years per Cisco.
- Increased storage capacity – the global cloud now has the equivalent of 3 trillion+ HD movies per Cisco.
- Extended battery power – in just the past 3 years, battery life for laptops has doubled per Digital Trends.
- Exponential processing speed – today’s mobile phone has the processing power of a $35 million computer in 1975 per Sequoia Capital.
So, today, people can consume more content on more platforms in more locations with more speed than ever before.
How is this impacting media?
- There is no channel conflict, only channel choice. 53% of media is time-shifted per Hub Entertainment Research. We are in the golden age of content and no longer tied to the living room at 7pm.
- Must-see TV moments must be seen live. 112 million people watched the Super Bowl this past Sunday, all at the same time, per Nielsen. Despite the cord-cutting and time-shifting phenomenons, key cultural events such as sports, news, politics, and premieres demand live viewing to avoid FOMO (fear of missing out) and what Lance likes to call FOOF (fear of our feed) with spoilers.
- Attention is divided. 87% of consumers use other devices while watching TV per Accenture. Noone just watches TV anymore. They watch TV and multitask. As such, competition for attention is no longer relegated to just the fridge and the bathroom.
- Blurred lines between content and advertising. We’re looking at a 350% increase in native advertising over five years per Business Insider. People have begun to tune out (at best) and block (at worst) standard advertising formats. Hence the rise of ads that look like content in your feeds and everywhere else.
So why is advertising still the same?
Given these profound advancements in technology and changes in consumer behavior, why are marketers still operating with past models?
Why are planning and activation happening in silos?
Why are ads bought and measured using old currencies?
Why is messaging not coordinated across touchpoints?
And why are we executing manually?
It’s time for advertising to adapt to the future.
The future is here… it’s just not evenly distributed.
It’s moments. Big, live moments that capture attention.
It’s social. We are social beings. We want to share media experiences with others.
It’s personal. Right person, right message, right place, it’s time!
And it’s only getting headier.
It’ll be virtual. With VR (virtual reality), consumers will interact with brands in new ways, heck new worlds.
It’ll be augmented. With AR (augmented reality), consumers will have new interfaces for brand discovery.
It’ll be connected. With the IoT (internet of things), all devices will talk to each other and brands assets will be pushed/pulled in to complete tasks.
Four things marketers can do today.
- Redefine your funnel. Shift the focus from driving sales to driving commitment. Lance cites Jonathan Lee of Grey’s concentric circles showing constant movement between discovery, participation, and sharing. Indeed, it’s a continuous cycle, not linear funnel.
- Think in terms of shared media experiences. Capturing live moments is not a one-off tactic for social media war rooms. It’s an always-on strategy that captures value for brands by capturing emotion from consumers. The imperative is to surround your audience across multiple channels and synchronize your message.
- Combine analytics and activation. Real-time insights require real-time action. Integrate your teams and technologies to allow for fluidity. Forget editorial calendars and planning spreadsheets. Create agile marketing frameworks that can optimize on the fly. Reduce your reliance on social media listening tools and TV viewership ratings. Seek out partners and platforms that provide all these capabilities in one place with metrics focused on today’s consumer behavior.
- Embrace technology automation and addressability. Now, more than ever, consumers expect personalization. If a brand doesn’t speak to them, it doesn’t speak at all. The only way to make this happen at scale is through automation and addressability. Advanced data science and media technology can give you the control, speed and accountability you need to deliver a 1:1 message to the masses.
How can 4C help?
Glad you asked. 🙂
We’re a global leader in data science and media technology with SaaS (software-as-a-service) solutions for cross-screen convergence.
4C is the only company in the world harmonizing data across social media, TV ad/program occurrence, set-top box, and closed captioning.
And we do it at scale across 1.5 billion social media users, 1 million TV ads, 250,000 interest categories, 50,000 brands, 2,100 channels in 76 countries and 41 languages.
Our product suite helps brands, agencies, media companies, and content owners capitalize on shared media experiences with these core offerings:
- Cross-screen advertising and content analytics. Measure the delivery and impact of your assets globally across channels and devices.
- Multi-channel media activation. Programmatically execute ads in synchronization across social, search, display, video, mobile, and TV.
Join us as we seize the moment and harness the future of media to extract maximum value for all stakeholders.