The discussions rage about the deepening of the media pool from the shallow end of paid media (think traditional media) to the deeper end of owned media (think web site, facebook page) and earned media (think rating sites). Some, like the attached McKinsey article, advocate for the addition of two more levels of deepness, in the form of sold (my site sells ad space to another brand) and hijacked media (some community member rallies opposition on facebook to my brand). The key to the definition, as laid out by McKinsey, is in the definition of "who owns the interface with the consumer".
No matter where you stand on the topic, one cannot help but ask the question, as marketers go deeper into engaging with their customers, will they have to start to think like publishers, in that they now must create content themselves that continues to service the more demanding needs of their customers/readers?
Furthermore, with the knowledge that McKinsey has learned, that as consumers move through the journey with a brand they hunger for something deeper, more authentic and transparent. Do you think the ad/digital agency creative talent is currently capable of delivering this, being a third party resource to the client and brand?
As marketers build their online presence (in an owned or earned manner) to stay relevant, they will have to feed the channels/publications they have built, and this takes a commitment internally to have talent that can quickly say the right thing to quell a hijacking, or write with passion and knowledge about the company's products, services and promotions.
I believe many things will challenge marketers going forward but to me one of the biggest questions that I have, and one I get from my clients on a regular basis, is who will own the web/social content development and its consequences, because they know they have to but they also know it will mean creating a skill set intenally that they do not have. They will have to learn to think like publishers!
Enjoy the thought provocative piece form McKinsey in the attached link. Make sure you also listen to the audio piece inside the link. (I am aware you have to become a member to the McKinsey site to get the full story but it is worth it. They are the world's number one business consultancy out there. Oh yeah, and it's free to join.)
http://www.mckinseyquarterly.com/Beyond_paid_media_Marketings_new_vocabulary_2697
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2 comments:
Hi Don,
Very interesting and thought provoking. My own view is that the concept of "ownership" is the thing that needs to change in this debate. We have to get out of a command and control mindset to be successful on the web, in favour of a participation and enablement mindset.
A couple of examples; one of the main reasons for Facebook's success is that it's an open platform; it's free to publish on and any developer can develop for it... net result, it becomes the defacto venue for social exchange. Another is wikipedia, which has empowered UGC like no other - eclipsing the content of an entire encyclopedia in a matter of years and a defacto standard for most people who want answers.
In both cases, the value is created in enabling users (customers) to create content and then curating the experience AND creating an open, frictionless platform that allows for content to be created, published and otherwise shared. The role of the brand owner is enablement and the agency in the creation of tools and apps that reduce any friction in the system to zero.
Thanks Andy for your thoughtful feedback. No doubt enabling open communication with all stakeholders is the goal. What I also question is who should be driving the dialogue on the brand side of things. I believe success for an organization comes from the goals and relevancies of the consumers fitting within the corporate vision and goals of the company/brand. Someone has to have their finger on the pulse at the company side to intelligently participate in a discussion, respond to a potential hijacking, or initiate a relevant dialogue with their most important stakeholders.
I agree Agencies need to be the purveyor of tools to allow the dialogue process to happen, and sadly that’s all some will be destined to do, as they may not have a relevant role in developing timely and meaningful content required to really engage with the ever increasing savviness of the consumer.
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