The marketing and media ecosystem
In just a few short years, the marketing landscape has changed dramatically. Consumers now demand more choice, better service, and personalized customization. New technologies analyze the wants and needs of large markets and the personal preferences and shopping patterns of individual customers in detail. As potential media outlets fragment, advertising, too, is moving online and becoming more interactive. Social media is rapidly becoming a critical factor in the marketing mix; effective tools are being developed to measure the results. In short, the world of marketing is at an inflection point, where the traditional boundaries between marketing organizations, ad agencies, and media companies are eroding.
This is the “ecosystem” facing marketers today. Together with the Association of National Advertisers (ANA), the Interactive Advertising Bureau (IAB), and the American Association of Advertising Agencies (AAAA), Strategy& conducted a multi-year, cross-industry study — the first of its kind — called “The marketing and media ecosystem.” We look closely at this new ecosystem, and at how marketers, advertising agencies, and media companies are responding to it. The findings are compelling: Marketers and advertisers alike understand the value of the online space — yet few major marketers have developed the capabilities to thrive in the new ecosystem. It is more critical than ever that marketers team up with agencies and media outlets to develop strategies for responding to what matters in the new marketing and media ecosystem — performance, relevance, and interactivity.
The bottom line is that it’s a great time to be a marketer. New platforms are springing up to capture consumers, providing marketers new opportunities to get their message out and to engage in interactive dialogues. We have a better understanding of the effects of targeted advertising, now a commonplace practice. Virtually every industry is redefining its optimal media mix. At the same time, the new marketing ecosystem is a brutally competitive environment, where survival of the fittest is the law — winners quickly rise to the top, while losers fall behind. Does your company have the capabilities needed to prosper?