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As new trends and technologies constantly emerge, the worlds of marketing and advertising have become like moving targets. Industry players need to be on their toes to keep up, says Boomtown MD Andrew MacKenzie.
The industry has seen more change in the past 10 years, he maintains, than has taken place in the past half-century. It’s the kind of change that makes it hard for agencies to get their messages in front of the right audiences at the right time. There are more channels, and consumers are inundated with messages and content.
Moreover, MacKenzie points out that marketing today is more about providing an experience than advertising a product. He says consumer behaviour is changing at a rapid pace and in order to create memorable experiences for them, agencies require a broader set of expertise, particularly technological skills.
The very definition of an ad and the core functions of an agency are morphing, he says. This means agencies need to invest into broadening their capabilities beyond the advertising industry’s core creative services.
“We are no longer engaged in simply creating an advert and placing it into a media channel,” says MacKenzie. “The opportunity lies beyond traditional advertising approaches. We live in a screen age and advertising needs to be shareable and viewable. Content needs to compete with everything else we consume on a daily basis. Consumers buy what they relate to and trust. Now, more than ever, brands need to be interesting, engaging and rewarding.”
Agencies must evolve to become masters of all trades. In crunch markets, it’s all about the sale. Clients are demanding a substantial return on their marketing investment, which means agencies have to deliver measurable results. To achieve this they must understand the target market and consumer buying behaviour, and have a clear route to market and a long-term measurable strategy. However, the power of creativity is still paramount.
“We need to take on as much information and experience from as many different sources as possible. It’s about becoming a library of information. It is the unlikely combination of these experiences that unlocks ideas,” he concludes.
The big take-out: The ad industry is at a crossroads. It requires a greater understanding of markets, platforms and ways to engage consumers.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Half an hour with Andrew MacKenzie
As new trends and technologies constantly emerge, the worlds of marketing and advertising have become like moving targets. Industry players need to be on their toes to keep up, says Boomtown MD Andrew MacKenzie.
The industry has seen more change in the past 10 years, he maintains, than has taken place in the past half-century. It’s the kind of change that makes it hard for agencies to get their messages in front of the right audiences at the right time. There are more channels, and consumers are inundated with messages and content.
Moreover, MacKenzie points out that marketing today is more about providing an experience than advertising a product. He says consumer behaviour is changing at a rapid pace and in order to create memorable experiences for them, agencies require a broader set of expertise, particularly technological skills.
The very definition of an ad and the core functions of an agency are morphing, he says. This means agencies need to invest into broadening their capabilities beyond the advertising industry’s core creative services.
“We are no longer engaged in simply creating an advert and placing it into a media channel,” says MacKenzie. “The opportunity lies beyond traditional advertising approaches. We live in a screen age and advertising needs to be shareable and viewable. Content needs to compete with everything else we consume on a daily basis. Consumers buy what they relate to and trust. Now, more than ever, brands need to be interesting, engaging and rewarding.”
Agencies must evolve to become masters of all trades. In crunch markets, it’s all about the sale. Clients are demanding a substantial return on their marketing investment, which means agencies have to deliver measurable results. To achieve this they must understand the target market and consumer buying behaviour, and have a clear route to market and a long-term measurable strategy. However, the power of creativity is still paramount.
“We need to take on as much information and experience from as many different sources as possible. It’s about becoming a library of information. It is the unlikely combination of these experiences that unlocks ideas,” he concludes.
The big take-out: The ad industry is at a crossroads. It requires a greater understanding of markets, platforms and ways to engage consumers.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.