Stowe Boyd: Media CEOs Are Panicked
28 Jan 2013
ETA: Needs to be read against the Oreo Super Bowl Twitter viral - as The Verge’s Tumblr put it, “Ad makers are now operating like media companies in their pursuit of relevance.”
How Oreo’s rapid-response team lit up Twitter with a Super Bowl blackout ad
“Oreo wasn’t alone, of course, as plenty of other brands sought to tweet something witty associating their products to happenings inside the dome, but it was the cookie company that won big with its rapid response marketing team. David Armano, Managing Director of Edelman Digital Chicago, says this type of reactive — rather than proactive, where the ads are created in advance — advertising is a growing trend, but it’s also only one part of an overall shift in the industry. Companies like his, charged with expanding awareness about their client brands, are now increasingly operating like media outfits: complete with newsroom-like real-time tracking of news and popular discussions, which can be responded to instantaneously with a sharply written tweet or Facebook update.”
So where does this leave us?
Advertising ►►Media companies ►►Application companies
Because: The maxing out of attention as currency. People are paying attention to as much stuff as they possibly can - it’s now a matter for content-creators not just to get your attention, but displace something else
Therefore: Realisation that companies can’t just make stuff, they’ve got to focus on building that audience
Therefore:Even while the internet reduces friction for people to switch retailers, the retailers themselves are having to return to this weirdly quaint and retro notion of customer loyalty.
Question: How does this mesh with how consumers use brands - to communicate, to self-make, to define identity? Is it all some hyper-fluxy liquid modern slash postmodern bricolage (in which case, good luck with that loyalty thing, brands) - or, in a hyper-fluxy world, is the sense of permanance afforded by brand loyalty (Coke, John Lewis, Nike) about the most reliable source of stability anyone can get?
Looking at the boom in heritage brands (Barbour et al.), I reckon there’s something in that stability thesis…
(PSNot quite sure what Boyd means by “application companies”, but I guess “Those who build apps” / consumer-facing tech cos?