Monday, November 24, 2008
Will Recession Kill Advertising Innovation?
In the recession marketers can go to 2 extreemes. The bold ones will take the phrase "war breeds innovation" to heart and look to innovation to get them through and put them in a better place longer term. Others will retreat and stick to the channels that currently work for them delivering at least some return in the short term.
As mentioned in number of posts a healthy 80/20 mix of proven/innovative approaches is needed. I guess the question is will agencies respond with the people, the resource and approach to drive and deliver this.
In 2000 was at Agency.com working on the JV with Claydon Heeley Jones Mason that spawned Agency Republic when they walked half the company into one room and half into another to do the X-Factor. Globally we lost a huge number of what would be senior digital marketers in that cull and the concern is we might do exactly the same thing again.
Pretty similar to Black Swan Theory - in that an unexpected event causes huge chaos, but ultimately improvement, until the next unexpected event does it all over again.
So this current and chaos in the market place will ultimately lead to an improvement in how and what we do, it is up to agencies and clients whether they want to be leading this or watching from a safe distance, then having to buy their way back in.
Tags: satir theory organisational change advertising recession giles rhys jones