To borrow a phrase - the death of the advertising industrial complex?
24 July 2016 Jim Harrison,
I think this film by Scott Galloway and L2 is rather important. The title “Death of the Advertising Industrial Complex” is compelling enough. The idea that the cable TV market is past high noon is thought provoking and the evidence of the growth of OTT providers supports it. The idea – in the context of, for example, the car market – where the biggest spenders have the worst share falls and where Tesla are spending their TV dollars on building better batteries gets me paying attention. To borrow his phrase “being the biggest ad spender actually outs you as a brand that doesn’t innovate” nails it.
It’s a week where Dollar Shave club sold for over a billion and where Deloitte reveal that ad spend of the top US 100 is up by 12% but recall is down by 11%, there’s lots to chew over.
As Tom Fishburn’s cartoon in the last Marketing Week said “It’s not marketing, it’s storytelling. It’s the story of a product that’s only £3.99 for a limited time”.
We only have ourselves to blame.