Acart hosted Tim Williams from Ignition Consulting Group on August 31.
Tim put on a very intriguing seminar “Agency 2.5-How Agencies Are Transforming For the Future” where he covered many topics and trends of the changing ad world.
A few of my favourite take aways from this seminar:
Difference between efficiency and effectiveness.
As as agency, would you rather be efficient? Using traditional media tactics, getting the exposure using metrics such as reach, frequency and cost per thousands. Or would you rather be effective? Producing a campaign using engagement, where you can have a more captive audience who is receptive, attentive and it’s overall buzz-worthy. A great example Tim provided was for Queensland tourism, where they used minimal media budget and it was all about creating buzz:
Consumers as media.
With today’s digital world and the importance of social media, consumers are critical. They can change the perception of your brand and create negative or positive publicity. Tim provided a good example of how consumers can impact your brand; in this case, United Airlines, with “United Breaks Guitars.”
Is it better to communicate to the masses using a high volume of mass media, or choose a targeted approach to less people but highly customized to that specific group. With the immense clutter in the advertising world, it’s becoming harder to break through. To truly resonate with the target, a targeted approach is the way to go in my opinion.
Books he recommends we read, and I can’t wait to get started:
1. The Chaos Scenario by Bob Garfield
2. Baked In by Alex Bogusky and John Winsor
3. Experience Economy by Joseph Pine
4. The Long Tail by Chris Anderson
[Image via TopRank]