Monday, 8 October 2018
A newly appointed delegate walks into New York’s Advertising Week — a build-up comical and ridiculous as any “man walks into a bar” joke. So, a new delegate walks into the 2018 Advertising Week to find an industry circus. Like tent pole menagerie, all species of advertising creatures crush into the Lincoln Center Theater: publishers and platforms allure with activities and activations, vendors hock three-pm cocktails from a logo adorned booth, agency executives and brand representatives cordially chat over complimentary burritos. All actors within this system are hyperbolized, peacocking themselves in the spirit of playful competition, or perhaps a media partner mating dance.
The aforementioned rookie, me, searches desperately for coffee, swipes a branded lip balm, and rushes to her first presentation. The theater door swings shut and the chaos of outside yields to a profound calm. Four days and fifteen panels later, I emerge exhausted, opinionated, and a bit inspired.
Of these presentations, topics included AI, AR, PII and GDPR, OOH, Linear TV, ATV, OTT, GoT and RTB (yes, Game of Thrones and real time bidding), D&I, and DTC. Eight months into my first agency job and my affection for acronyms is growing, but this might border on excessive. Pad this packed schedule with a few panels on influencer marketing and blockchain technology, and content seems to bleed from one agenda item to the next. The following themes emerged:
Trust is now the hottest commodity (can you believe it?)
2018 has certainly been an interesting year to begin a career in advertising. The discourse around PII, the open exchange, and diversity has rapidly shifted: the love for boundary pushing has become a race for boundary setting. I want to address these issues (diversity, data, and brand safety) at once not because they are comparable, but the consequences of an offence against any one of these ultimately diminishes trust. Colleagues trust that their company will condemn discrimination and uphold personal expression; clients trust that their advertisements (and therefore ad dollars) will not run against violence, hate, or pornography; consumers trust (or they did at one time) that their personal information will not be exploited. There have been failures on all counts.
In this year’s programming, I observed the aftermath of an industry in a pre-brand safe, mid-Time’s Up, post-GDPR space. This wave, perhaps tsunami of change resulted in a few notable casualties; survivors took to the stage and promised improvement. These initiatives involved transparent practice, inclusive hiring, and careful inventory purchases. While I applaud the noble vocabulary employed last week, I am curious to see these plans progress beyond a state of intent. As far as I can tell, data collection and storage remains relatively opaque, plenty of companies are “thinking” about appointing a brand safety officer but the “doing” remains to be seen, and the conversations on inclusivity were largely led by cis-straight Caucasian men. This delegate is not quite convinced.
Now a word on blockchain…
I will keep this passage mercifully brief, given the kiddie pool depth of my understanding. Blockchain, as in this article, was an unavoidable topic at Advertising Week. A cult-like crypto following claims blockchain is the answer to hidden fees and arbitrage in ad tech, while skillfully skirting specific questions on applications and timeline of implementation. Panelist attitudes ranged from evangelical to deeply skeptical, with estimates for implementation spanning 6 months (ambitious) to 8 years (conservative); most fell somewhere in the middle ground. Experts in the area anticipate it will be a few years until we are ready to transact with it, and it will not be a panacea for all programmatic ailments. We certainly have enough work to do in the interim.
Millennials: is it time to give up the ghost?
There is an obvious disconnect between the advertising industry and the elusive Millennial generation. While I am green in the advertising industry, I know Gen-Y. Yes, I am admittedly one such artisanal coffee drinking, vinyl listening, thrift shopping Millennial. Allow me to provide some perspective. Before beginning my job at IPG Mediabrands, I believed advertisers and charlatans worked in the same industry, with smoke and mirrors and a crystal ball displaying a more glamorous version of my life all because I cracked open a Pepsi. Let this be a footnote in the “Marketing to Millennials” handbook: we want you to work for us. DTC (ex. Milk, Curology, Glossier) representatives showed in force at Advertising Week this year, imparting their post-grad startup wisdom to rapt audiences. I concede that an ex-fraternity pledge in shorts giving advice to industry veterans is laughable, but these entrepreneurs are clearly doing something right. They’re creating an intimate, personalized experience with a transparent process. My generation still needs shampoo and soda and sedans and bagel bites — mimic the messaging that works. (As a case in point, I have made purchases from all three examples mentioned.)
Storytelling and the end of the Advertising Week story
“Television as a moniker is limiting; I’m excited about new storytelling,” proclaimed David Cohen, North America President at MAGNA Global. This charming buzzword stole the show this year, and it particularly resonates with a “cord never” like myself. From six-second experiences to a twelve hour series binge, storytelling has escaped the episodic and ad block trappings of linear TV. It appears that the motion away from traditional advertising, which still claims a majority of global ad spend, will be slow. Solutions to monetizing new and nebulous storytelling formats are still forming, but like all other aspects of my Advertising Week programming, the trajectory is promising. Values are shifting from legacy to authenticity. Marketing is moving into a space of intimacy, honesty. TV is now about accessibility. And through events like the one last week, the industry forms community around shared goals.
The story of this year’s Advertising Week was that through collaboration, we can achieve more. This four day crash course might have me a little battered, but it has also left me excited to explore the next chapter of our industry. I believe I have earned my badge.
