October 31, 2008
Thank Gawd for Digital!
It’s so reassuring in these uncertain times to know that the “Madison Avenue Biggies” see stability in digital media. I’m personally just very relieved.
But I’m curious if they realize the source of that stability. Digital Media will remain strong through the economic turmoil because it is directly measurable. It can be tied to tangible results- like sales.
It has been the fashion to downplay this aspect of Digital media and focus on more ephemeral metrics like brand engagement. This focus both leveled the playing field –making it almost as difficult to measure Digital’s impact as outdoor as well as tragically slowed down all the work needed to make digital more accurately measurable.
Retaining that old focus won’t work in the current climate. Building brands will continue to be important, but really measuring how and if that is accomplished will become the #1 requirement of almost every program. Everyone’s favorite acronym of three years ago: CRM will have a come back. Those marketers and agencies that wield those tools now will get stronger and earn more of shrinking budgets. Those who don’t won’t.
So while Digital may help keep marketing budgets alive, how those budgets are deployed and measured will fundamentally change what marketers expect (RESULTS?) from advertising and “agencies” forever. If that points to an era of stability, well then, I’m an agency biggie.
Kathy Sharpe, CEO
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