Traditional Media Faces 'Armageddon': Marketing Legends Discuss AI, Procurement, and the Future of CMOs (VIDEO)

The Evolving Role of CMOsLinton highlighted the rapid changes in the marketing landscape emphasizing the dual challenge faced by CMOs today integrating new tools like AI big data and influencer marketing while managing the decline of traditional tools quotYour ability to combine all these things into one story for the company and drive profitable growth is super challengingquot he noted Despite the challenges he believes that those who can navigate this complex landscape successfully will reap significant rewardsCulliton echoed this sentiment stressing the necessity for CMOs to possess quotconfident vulnerabilityquot in this uncharted territory He stated quotSomebody has to raise their hand and confidently say we don39t know what the hell this is And I also know nobody knows what the hell it isquot This openness to experimentation and learning is crucial as marketing professionals grapple with the fastpaced changes brought about by AI and other technologiesChallenges in Education and TrainingA significant portion of the discussion focused on the gap between higher education and the practical needs of the marketing industry Culliton pointed out that educational institutions are not equipped to keep pace with the rapid evolution of marketing tactics resulting in graduates who are proficient in content creation but lack the skills to translate these efforts into business outcomes quotSchools are not built to create curriculum or class at this speedquot he observedLinton underscored the importance of soft skills and vendor management which are often overlooked in traditional marketing education quotThe ability to pick right and then manage the vendor management in addition to your teams is going to be a skillquot he said This gap in education places additional pressure on companies to provide training and development opportunities for new hiresAI39s Impact on AgenciesThe conversation also touched on the pressures facing marketing agencies in the AI era Linton and Culliton discussed how AI is reshaping agency services leading to significant cost reductions and efficiency improvements However this shift also poses a threat to traditional agency models quotYou39re going to be looking at a calculated destruction of the old modelquot Culliton predicted highlighting the need for agencies to adapt quickly to surviveDespite the challenges Culliton remains optimistic about the potential for innovation within the industry He encourages agencies to embrace new tools and technologies stating quotI think this is a gift to agencies but I think it39s going to come with some real pain before the gift is obtainedquotThe Role of Procurement in Media BuyingLinton and Culliton also addressed the evolving role of procurement teams in media buying and planning The rise of marketing procurement professionals many of whom have strong backgrounds in finance but little experience in marketing presents both opportunities and challenges Linton expressed concern about procurement39s focus on cost reduction at the expense of strategic value quotProcurement provides a valuable service but if they cannot understand the difference between cost and value it becomes a problemquot he warnedThe Importance of Financial LiteracyA recurring theme in the discussion was the need for marketers to be financially literate Linton stressed that quotthe universal language of business is financequot and marketers must be able to translate their efforts into financial metrics to succeed Culliton added that major media platforms with their AIdriven tools and vast data resources are increasingly capable of providing the financial insights that marketers need This underscores the importance of collaboration between marketing and finance teams to achieve common goalsTraditional Media is Facing ArmageddonOne of the most controversial and attentiongrabbing insights from the conversation came when Culliton described the future of traditional media as facing Armageddon He explained quotLarge companies are built not as innovators You get in the walls and you get a lot of you know just this is the way we do it and some stagnation in pockets of innovation The agencies are going to have a role but it39s going to be after a little bit of nuclear warquot This stark analogy underscores the intense pressure traditional media companies face in adapting to the rapidly evolving landscape driven by AI and new marketing toolsLinton added to this perspective by emphasizing the decline in traditional media tools and the urgency for legacy companies to evolve He warned that quotif your company is not evolving as a legacy media company at speed and you are telling a story about how fast you39re going to evolve you39re going to be found outquotFor those looking to stay ahead in this rapidly changing field Linton and Culliton39s experiences and advice are invaluable To gain deeper insights from these marketing leaders viewers are encouraged to watch the full video of this enlightening conversation

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Traditional Media Faces 'Armageddon': Marketing Legends Discuss AI, Procurement, and the Future of CMOs (VIDEO)

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Jack Myers

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

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Traditional Media Faces 'Armageddon': Marketing Legends Discuss AI, Procurement, and the Future of CMOs (VIDEO)

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