The annual Adnews media and marketing summit took place this week and boy did they cover a fair bit of ground in the one day event! We were treated to a variety of speakers from Australia’s media and marketing industry, looking at the state of television advertising, the future of voice marketing and new ways to leverage UGC, among other things. The Adnews Media and marketing summit showcased trends, vital innovations and where the industry is heading in the next 18 months of marketing and advertising in Melbourne.
But wait…. What’s a digital agency representative doing at a media summit?
Great question! As digital optimisers we’re a strange bunch, as data analysts we know that empirical evidence and data crunching is incredibly important to results, but so is understanding markets, advertising trends and what driving factors are capturing consumers attention and calling them to action. Understanding the broader media industry contributes greatly to how we approach our analysis and our optimisation ideas, not only for websites, but across a diverse range of media. So, with that in mind, here’s what I learned:
#1 Diversity is not only for women, and yes.. it really does impact how we go about our work.
The fantastic keynote from Dr. Katie Spearritt highlighted that when we talk about workplace diversity, often we jump to the gender pay gap, or the topic of “mansplaining”. However, this assumption can misrepresent what is really meant when a company pursues building and nurturing diverse teams. Dr. Spearritt brought to the fore that creating a diverse team means more than diversity in gender, ethnicity or even sexual preference, and while diversity does include difference in these areas, it’s actually the tip of the iceberg.
The real powerhouse of diversity is in the variety of backgrounds, thinking patterns and approaches to solving problems and this is formed through our various backgrounds, ethnicity and gender and even religious beliefs. This approach shows the power of diversity, when a variety of views are brought into the discussion better connections are made with customers and smarter marketing solutions are delivered. I’ve experienced this first hand – I would never see the opportunities in the data as one of our analysts, and engineer 8 years younger than me from an Indian background would see – and there’s unbelievable power on collaborating together for a solution, and therefore better results. Next time you’re in a meeting, making a call or working through a problem, why not ask how people from different backgrounds approach it? We’re all the better for it!
#2 TV isn’t dead… It’s having babies
Kim Portrate’s approach to the future of TV shines a light on where the industry is heading as more technologies a developed to help advertisers target and understand audiences. TV’s definition is broadening and what we understand about the advertising medium is rapidly changing. With even more technology being applied, not only for the big box on the wall, but where all professionally produced content is delivered, (think mobile devices, PCs, tablets) the industry is getting smarter about targeting the right consumers with the right content. It’s still early days, yet there’s a lot of promise in the area as it becomes more data driven and personalised. TV has and will continue to be all about reach and frequency, yet TV advertising is showing the largest percentile of trust among all other mediums (40% of Australians trust advertising content on TV as opposed internet advertising (5%). This new area of addressable TV will bring even more integrated data solutions across TV and other mediums. We’re looking forward to the day when we can clearly see online store sale attribution from a certain TVC ad sets!
While we’re on content, Jules Lund’s fantastic content creator session highlighted that as there’s now less organic reach across social media platforms, there’s great potential for influencers to become content producers – think about how you could scale your content marketing or advertising campaigns with 100s of UGC samples to choose from and how rapidly you could implement social proof across all of your media campaigns.
#3 Client – agency marriages are about more than romance!
Clemenger BBDO and NAB talked through their client – agency relationship, where they have been and a few core principles that have kept them in bed for more than 10 years. I noticed that a shared understanding of the core business problem is what keeps driving the relationship forward. Like any client and agency partnership there’s briefs, reviews and budget negotiations and tough conversations, yet the discussion uncovered that mutual respect, open dialogue and knowing clearly the main business problems is what keeps client relationships growing and instills a sense of long term investment and results. We get to work very closely with our clients as we’re analysing their data and bringing solutions that can impact all areas of the business and through this talk we’ve been encouraged to keep returning to the core business problem that we’re solving for our clients and to make this problem clear and addressable.
So there you have it, my three main takeaways. It’s fantastic to see media agencies investing heavily in analytics and analysis and more data driven approaches to traditional media solutions. We’re excited to see how the industry takes up these new tools to more effectively reach consumers and call them to action.
Juan Mendoza is a Digital Optimisation Strategist at Conversionry.