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.

I just spotted this diagram on Jmac's Screen: the Virginia Satir Theory of Organisational Change

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.

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6 comments:

Jim said...

Fuck me. 'Doing the X Factor' must have been a tough old day. Few more of those in the pipeline...

Mihai Dragan said...

Extremes are overrated, Giles. The marketers will probably go to extremes. Some of them. The other 80 percent will probably learn to survive by studying the 20 percent.

It is just a matter of luck to be part of those 1 percent that will actually benefit from this mystery we call recession.

However, being a part of those 20 percent that try to shake things up a little bit is a matter of choice.

Giles Rhys Jones said...

cheers mihal. agree to some "Top Shop" marketing - watching the market, copying the big innovative boys quick and undercutting. my suggestion was a combination of 80/20 within an organisation - so you still kick out the standard tv/print/banners for 80% but also spend 20% on the social networks/widgets/mobile. test both and replace some of the 80 with the successful 20 as you go.

g

marcus said...

Brilliant post! Let's hope our clients read it or A/S dare to tell them ;-)
A crisis will force progress, kill complacency and breed innovation

JMac said...

From me to you to neil and back:

http://www.jonathanmacdonald.com/?p=2256

MHB said...

i think we might start seeing an increase of tactics within strategy as a potential short term savings...