Two things happened recently, that have filled me with an existential dread as an advertising guy. I see a leak in the advertising industry’s ship. But instead of fixing it, the two indicators are telling me that advertising industry is busy being in denial – telling its employees, its clients that everything is fine, all we need is ‘purpose’, ‘creativity’…(and other buzz words). Semantics and bullshit have never rescued a sinking ship. The ship is totally rescue-able – it can even get better. But for that the emperors must acknowledge their true sartorial status.
The first indicator – Denial
So I got my grubby hands on a leaked document from one of the biggest agencies, charting out their plan to succeed in the new year. They identified just the right problems plaguing the industry. I was quite surprised to see the clarity in problem statement. Wow, hope!
And then the embarrassingly small minded solution to the big problem – a new fucking planning tool. Don’t get me wrong, i understand the power of a new perspective and this tool was a new interesting perspective of looking at modern business problems. It quite adequately and elegantly captures the new realities of digital behaviours and mass media’s sharper relevance. BUT, it did not solve for the problem that was stated. If the brands are dead, how would a new perspective resuscitate them? If agency’s role in brand building is getting marginalised, how will a new planning tool help it in becoming more relevant? It is part of the solution, not the solution itself. Perhaps I misunderstood the scope of thinking – so I engaged a few people in conversation – perhaps there is a technological component to the tool that will help scale the operating procedures. After all, what good is a perspective if it remains a sales tool rather than a systematic way of thinking for the whole enterprise. That can happen by designing intelligent workflows, reimagining the roles and expectations. So I asked about these opportunities, but in return I received puzzling silence. Maybe they don’t get it? maybe I am not getting it? Either ways, glug glug glug.
The second indicator: Talent paucity and nothing constructive done about it
Successful Digital startups ‘pivot’ fast enough to stay relevant and thrive. Agencies very obviously can’t. They are good at applying cosmetic changes to their ‘purposes’ and ‘philosophies’ even as nothing operationally changes.
Successful companies are good at institutionalizing the feedback loop – the giving, taking and leveraging of constructive feedback. Company improves if employees improve. But agencies seldom have that culture – the evaluation ritual is perfunctory most of the times. All agencies depend on talent, though only a few invest in talent with time and thoughtful dialogue to help improve. Most agencies simply throw money to hire someone with new awards. They would much rather spend money than time and efforts. Effectively that has created a loop of talent turnover instead of learning and improvement.
Because of the momentum – The media inventory being questioned, tracking and target positioning ad ex as bad guys, stocks falling for holding companies and there being obvious ways in which an eagle eyed activist investor can take charge and improve long term growth prospects… Besides the vulture funds have too much cash and not enough places to put their monies in. Hedge funds, hedge this.