A Conversation with Ad Industry Leader Greg Stern

Bill Dugganamp160 What prompted the 4As to undertake the quotQuantum Age of Marketingquot studyGreg Sternamp160 We wanted to provide our members with an overview of the macro factors and trends in marketing todayamp160 By interviewing a range of sources from marketers and agency leaders to consultants and academics we worked to establish broad themes and granular details of the industry today and where it39s headedamp160 This research is designed to understand the implications for marketing associated with this rapidly changing environment characterized by empowered consumers dominance of technology and data and the rapid pace of changeamp160 The report identifies suggested actions that marketers and agencies can take to quotfutureproofquot their businessesamp160 Inamp160short the quotQuantum Age of Marketingquot report is intendedamp160to inform and enable the futureproofing and future design of businesses brands employers communities and careersDugganamp160 A key finding of the research has to do with the importance of longterm relationshipsamp160 Once upon a time advertisers and agencies often took pride in the longevity of their relationshipsamp160 Is that still the case and are longterm relationships still importantSternamp160 In the Quantum Age the fourth industrial revolution no company can be a subject matter expert in everythingamp160 Deep enduring partnerships are a critical factor for successamp160 We recognize that strong partnerships have become a strategic imperative for any company to thriveamp160 Additionally longterm relationships foster trust and a relationship built on trust creates more effective solutionsDugganamp160 What39s your perspective on the unbundling of media and creativeamp160 And given the dominance of media in today39s digital world can creative truly be the differentiator it once wasSternamp160 The trend of media and creative collaboration is well underwayamp160 Socalled creative agencies often offer connections planning which provides media strategy if not buying services and media agencies now tend to have content offeringsamp160 There39s a good reason for it solutions are not developed in isolation or in siloed disciplinesamp160 Creative marketing solutions must leverage content and the distribution platforms to deliver that contentamp160 An ineffective message delivered efficiently is still ineffective just as a wildly creative idea poorly delivered is not effectiveDugganamp160 amp160What are the key priorities for the remainder of your tenure as 4As chairSternamp160 My main priority continues to be to provide 4As members with significant value across a range of areasamp160 Specifically we work to do that with an emphasis on several areasamp160 These include the advocacy of best practices to ensure a trusted relationship between our member agencies and their clients and a dedicated effort to achieve meaningful progress in diversity and inclusion in the industryamp160 We are focused on an evolved event strategy that provides more frequent conferences offering actionable insight on specific topics including data analytics talent and creative use of technologyamp160 Also key are our continued efforts in Washington where we collaborate with industry partners on issues important to our members and their clients specifically privacy tax status and freedom of expressionDugganamp160 In your opinion how might the 4As and the ANA best work togetherSternamp160 Although the two organizations and their respective members might disagree on certain issues it39s incumbent on both to work together to develop a common language and approach to addressing those issuesamp160 Moreover there is an abundance of issues in which we have common interest that require collaborationamp160 These range from accelerating brand growth and promoting diversity and inclusion within our industriesamp160to ensuring a fraudfree and transparent mediabuying ecosystemamp160 Like any group of collaborators there39s room for discussion and disagreement but there should be no place for animosity and antagonismDugganamp160 What advice do you have for marketing procurement professionals a key constituent of the Advertising Financial Management ConferenceSternamp160 I would start by gently reminding them that their agency is their partner not a vendoramp160 The best solutions are developed in a collaborative environment that fosters a partnership with a tone established during initial negotiations between agency and procurementamp160 I would also encourage them to be specific and precise when developing an agency scope of workamp160 Keep in mind that there is always a winwin solution if all parties seek and leverage an alignment of interestsamp160 I would also ask that they foster formal balanced relationship management processes with their agency partners and jointly identify areas of opportunityamp160 Finally they should be willing to incorporate performance and incentivebased compensation methodologiesamp160 We all need to look for ways to tie agency compensation to mutually agreedupon outcomes that are specifically affected by elements within the agency39s scope of workClick the social buttons above or below to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers amp160

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A Conversation with Ad Industry Leader Greg Stern

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A Conversation with Ad Industry Leader Greg Stern

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