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Why Agencies Should Be Placing Their Bets on Data, Talent and Tech
In a period of intense uncertainty, what bets and investments can agencies make to succeed in a new advertising world order? There may be no single answer, but we spoke with 26 shops and found a few common threads. Big holding companies continue to make multibillion-dollar bets on data and performance marketing. Predictably, investment in technology is becoming more common, but it’s equally important to ensure that the right talent is in place, and deep specialization may be crucial for growth.
Coronavirus Updates: The Latest Developments, Cancellations and Travel Restrictions
Stocks continued to plummet due to a one-two punch of coronavirus fears and an oil price war between Saudi Arabia and Russia. Holding companies were not immune to the plunge, as the big five companies stocks’ lost on average 7.5%. Analysts see holding companies losing revenue in out of home as quarantines and precautionary measures keep people at home and experiential activations are canceled. TV, streaming and digital could see an uptick, but the market as a whole will likely be negative and volatile.
The National Retail Federation now expects the coronavirus outbreak will have a “longer and larger impact” than previously estimated on incoming goods at 11 major U.S. ports, as factory shutdowns and travel restrictions in China continue.
Originally set to take place in New York the week of May 11-15, the One Club’s Creative Week is usually among one of the biggest events in the agency world. Now, organizers are hoping they’ll be able to garner a bigger online turnout with their COVID-19-friendly Creative Week digital alternative.
A+E Networks and AMC Networks are the latest media companies to follow Fox News Media and Comcast’s FreeWheel’s footsteps in scrapping upfront plans due to concerns about the spread of the novel coronavirus. A+E Networks will shift its live upfront event, which had been scheduled for March 25 at New York’s Jazz at Lincoln Center, for a virtual upfront presentation series beginning the week of March 23. AMC Networks will still hold conversations with clients instead of its first upfront since 2017.
- Related: CNN went ahead with its upfront event last week, kicking off upfront season with its CNN Experience event at its New York headquarters in 30 Hudson Yards.
COVID-19 Tracker: Keep up with the latest coronavirus news here.
How Enforcing a Gender-Balanced Workplace Will Propel Brands Forward
Micky Onvural, CEO of menswear brand Bonobos—whose entire executive team is dominated by women—penned a op-ed arguing that success requires you to walk in other people’s shoes, including those of different gender identities (not to mention other forms of diversity). “The juxtaposition of different perspectives unlocks creativity, innovation and growth,” Onvural writes.
Infographic: A Day in the Life of a Modern Marketer
A recent survey of 400 full-time advertising and marketing managers compared creativity and productivity in the average workday. “To be productive and creative, we need to allow ourselves time to decompress,” says Diane Domeyer, executive director, The Creative Group. She advises marketing pros to set boundaries to have a healthy work-life balance, avoid multitasking and be mindful of energy vampires like email or social media that decrease productivity.