“Major money is going to be in motion in the next decade and yet no one really understands exactly where it will land, or even if it will land, or just disappear altogether,”
“Your clients are in trouble. They are looking to you to save them.” He said the ad inventory that has been sold for the last 50 years “no longer works,” and marketers “have started to figure that out.” In the process, “your clients will fire, hire, fire, and hire agency after agency ... seeking someone –- anyone! -- who can help them perhaps on where to go next.”
Excellent quotes from the CMO of Verizon ( the number 2 mobile operator in the US), who spends $2bn on marketing, He was talking at the Madison& Vine conference in LA this week.
“We’ve been playing a game of incrementalism, in which we throw a few points of our [ad spending] at a variety of emerging channels, seeking to gain some insight into what will work and what won’t, but all the while maintaining the vast majority of our spend on the foundational mass media plan that has carried advertisers for 30 years. My view is that, increasingly, large advertisers are going to scrap that approach in favor of a far more aggressive one,” he said. “Having sampled and tested a wide array of new and different delivery platforms, advertisers, I believe, are going to move to a ‘blank sheet’ approach, building the whole of their media mix from the ground up.”
He predicts that mobile will become a major advertising medium - taking as much as $30bn. Well he would say that wouldn't he? - but we're convinced that mobile is going to be huge.
Hard to disagree with anything he says. We set up Big Picture because we saw a huge gap in the market for someone who understands the new space and can deliver marketing communications that take advantage of these opportunities. And with people like McKinsey coming out and saying brands should be spending 20/25% of their budgets on well structured experiments, we know we're in the right place.
If your agency are giving you the same old mass marketing thinking you should come and have a chat. We'll buy the tea.