The Tale of Two Sides!

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The Tale of Two Sides!

While audiences continue to transition onto other mediums such as streaming TV, podcast, social media, and other digital platforms. Broadcast continues to plead their case on why the medium is still stronger. Here is the bottom line, digital is now King, just take a step back and see how consumers now behave. Millennials are major influencers when it comes to consuming digital, which in turn influence the generation before them (generation X) and the next generation after them (generation Z). I got my parents to cut their cable, keep the internet of course, and purchase a Fire TV Stick. Weeks later, my father couldn’t get enough on how much power he had on what he watches and they’re happy with the decision they made.

With a renaissance in media upon us, it’s time for the folks in the broadcast industry to really embrace and accept this change, and quit sharing “data” or “research” on how the medium still reigns supreme, IT’S NOT TRUE. I get from a business perspective, the product pays the bills, and by deviating from that, it threatens the quality of life. That’s life, as humans, we are designed to evolve through the most toughest times. I started my career in broadcast, and will forever be grateful on what I learned from those before me, it made me who I am today.

What I’ve been seeing lately has been painful. Data companies approaching these vulnerable broadcast media groups with “solutions” on how the metrics they provide can show the power of their stations. Through despair, they pay hundreds of thousands of dollars for worthless information at its core, but at the surface, it was designed to make their advertisers/clients believe the station/s is driving results. Furthermore, they don’t even go through the proper procedures to verify the validity and credibility of how the data was collected in the first place. If the broadcast medium was so strong, why on the other side, they’re growing their digital presence by hiring more digital experts, investing into digital platforms, and participating in intensive digital training? It looks to me that they’re getting ready for a massive shift.

In conclusion, there is loads of money to be made, enough for many to be successful in media. Me along with many would appreciate it if we all were a little bit more honest with each other on what is happening. Times have changed, you can’t just try to create propaganda and think you won’t get caught with the lies or inaccurate information. Information and mass communication is readily available at our fingertips now more than ever. Walking a near straight line in business now in today’s world will either make you or break you.

SO STOP LYING!

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The Data Rush!

The Data Rush!

An old friend once told me “the folks who made the most money during the Gold Rush in the 1800’s were the ones selling the picks and shovels”. Fast forward to the 21st century, data is the new gold and everybody is looking for the next best platform to find it. The problem is, some of these platforms can look and feel as if it could give you valuable data, but in reality, the value of the data isn’t worth more than a sports trading card made in the early 90’s. These platform providers are the modern day sellers of picks and shovels, but without the actual tools to do the job, just vaporware.

Lack of integrity and positioning of these platforms has made advertisers, agencies, and media groups feel as if the data is “directional” and useful. If they only took a closer look and really analyzed how the metrics were quantified, then they would think twice about making a business decision based on it. Some say, “having the data is better than not having any data at all”.. but it’s like saying putting lipstick on a pig will make the pig look prettier. If the data is bad, then it’s bad. Just like if the pig is ugly, than it’s ugly. Desperate times calls for desperate measures. However, it’s a new low to show data to an advertiser when at the core, it wasn’t quantified correctly (not by a long shot).

So what now? Do media groups and agencies continue to give advertisers these false metrics and not even consider how the actual data was quantified. I would imagine major contradictions between metrics will arise soon and there is no going back for the media rep or agency after that, it might taint their reputation or maybe worse, an entire industries credibility.

What separates Maven Brand Group from many agencies is we know what to look for when considering data being credible or not. Of course data is not met to be 100% accurate, a margin of error could be between 1%-20% at the most 30%, anything beyond 30% belongs in the dumpster, or in your computers trash can. Before thinking of using any platform to measure data, consider the source and find someone who can interpret the data to verify its validity. It would save you from a massive headache, issues, and most importantly, it would save you from wasting your money.

The Little Business that Could.

The Little Business that Could.

For decades, advertisers have been making investments into letting the world know they exist. One way they do this is by using mediums in broadcast, live events, digital media, etc. One thing to consider when this happens is, are they really getting the right marketing advice on what would work or are they the “victim” of a desperate salesperson trying to meet their quarterly goals?

This is why ad agencies exist, to be that enforcer when it comes to media groups trying to sell their clients on the "right solutions", but, does that agency really know what is good for their client? Or, are they just an "enforcer" meaning they are not experts in marketing and advertising, they just play the middle man to make sure nobody bothers their client and does media buys for them. Sometimes they acquired the clients business just because it's a friend of a friends cousin and they were giving the opportunity.

I say all of this because I've had meetings with hundreds of advertisers across the country and a lot of them had an "agency". What surprised me about my experience was their lack of knowledge in understanding how to properly measure a campaign to then optimize for better results after. It was like everything I believed in when it came to folks that position themselves as an "agency" changed. Now, I'm not saying all agencies operate this way, not at all, I've come across some really great agencies, some in which I admire. However, there has been such a saturation with this vertical in the media world that anybody can now open an agency even if they lack the experience and knowledge.

What will the future hold for agencies in the media world? Will advertisers work with the ones that can truly show and prove their expertise and knowledge, or will they choose the agency that fabricated success stories and is connected with influential people? We believe that as long as an agency can manage a client’s expectations from the beginning, then deliver on what was expected, the advertisers and agencies business should be in good shape.