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@AD1
How is the industry crumbling? It’s turned into data tech. It’s now an industry that relies on data instead of ideas. That means shitty targeted content that doesn’t move the needle. Nobody gives a single fuck about a Twitter post, Facebook post or Instagram pic from a brand, and following a brand online is almost the same as following a pole on 5th Avenue. Here’s some real data for you:
It takes 10,000 display ads to generate 6 clicks. Three will be by mistake.
Over 50% of display ads that are bought are unviewable
Only 6% of display ads get even 1 second of attention
80% of people worldwide who are aware of ad blockers use them
2/3 of millennials have ad blockers installed on their devices
Ad fraud is out of control
None of the reporting about clicks is reliable (bots, ad fraud)
Everyone had the same data that Steve Jobs had. What they didn’t have that Jobs had was the creativity to turn in into a trillion dollar company. The only meaningful commodity an agency offers is creativity. You can get data and strategy and planning anywhere. Brands are realizing that the data can be found elsewhere and for a cheaper price. That means they’re abandoning the agencies and doing it themselves.
That’s how the industry is crumbling.
@OP
Would you stay in a wood cabin infested with termites? Or would you move into a home built out of bricks?
Saying the industry is crumbling has been in vogue for decades
@AD1
I understand what you’re saying. I agree partially until the end. Our business is built on ingenuity is true. But that’s not the ad landscape anymore. Brands don’t want ingenuity. They want cheap, fast solutions, and they can do that themselves. It’s not worth paying an ECD, CD, two ACDs, two copywriter/art director teams, four account people and a strategist to get the work done. They can save a ton of money and abandon the agency model and do it all themselves for a cheaper price. It might not be what’s best for them, but that’s what’s happening. Until a shift occurs and creativity is valued again, this is the way it’s going to be.
I think data is a method that everyone now mistakes for an idea. Those data driven ads are fun but it's like saying "analogies in ads are fun". "Data Creative" is the same as "Slippery Slope Creative" or "Contradiction Creative" or any other way in.
Don't be sold on gimmickry. Our industry is based on ingenuity and that'll never crumble.
That’s why I went client side...never going back 💀
None of the choices we make are binary and a decision of permanence. Follow opportunity for excellence rather than trying to predict industry trends
Crumbling, or changing? I'd say it's the latter. And it's always been in a state of flux. As long as there are products and services that need to be sold, there will be a need for smart advertising solutions. We just have to evolve or become a dinosaur.
Why do you say it's crumbling?
No. If the model was unsustainable, it'll crumble long time ago. Instead it grew into worldwide networks with giant holding companies with insane excess, creating multiple sub industries (awards, production, etc) and affording things like sending the entire agency to Cannes where they rent a yacht while maintaining the average pay off 85k/year.
"This industry is now all data!" is nothing else but "this industry is now all digital!"
Consider in-house though. Nothing crumbles there.
@Paul that’s a good point