Why the media industry even exists, and if it is doing anything to prepare for the next seismic change in digital
“We are not in the business of supporting a media industry; we are in the business of connecting with our customers.” – Trevor Edwards
I just love this quote from Nike’s Pres. of Global Brand Management. Often times I think of the handful of online publishers that really are vested in providing agencies and their clients with solutions beyond the banner that actually help to connect brands with consumers fostering engagement and communication between the two. Others are simply monetizing their pages with ad revenue from banners. Of course, this is one of the many staples now in digital media plans, but one that has long been commoditized, which is ultimately cannibalizing media to cookie-cutter campaigns that stick to the tried and true, but who doesn’t love positive ROI?
However, my question is, at what point will banner, email and search campaigns cease to be effective to provide value beyond awareness and site traffic and even engagement? What then? If TV killed radio, what will kill online advertising, no matter how rich and interactive campaigns are? What is the next killer app, literally? Will it be centered on social media, video, gaming, news & info consumption?
While I don’t believe anyone has a complete solution, I do believe that some have already begun to think about the next seismic change in digital. With more blog posts, articles, research and presentations popping up to talk about The Internet of Things, Augmented Reality, and services-based marketing, I think that the cogs are beginning to turn, albeit slowly, into the next wave of thinking that even today’s social and viral marketing is not yet a part of.