Tune in tomorrow for live video of the media summit, with live interviews from Naked Media.
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It was striking at the Media Summit in New York today how definitive the people on the future of advertising panel seemed compared to the more unsettled tone of the one on the future of news. The news people, from Vanity Fair writer and Newser.com co-founder Michael Wolff (“We just don’t know how to fashion our product” for the new market of news consumers) to Michael Oreskes of AP and ex- of The New York Times (he said there’s a debate about whether there’s even such a thing as journalism) to Dick Meyer of NPR ex of CBS News (who quoted Clay Shirky’s recent essay on disruption of the newspaper business and said we "don’t have a clue" what’s next), were all candid about their grasp for a business model, let alone an editorial process and structure that works to produce news and satisfy an audience today. (Related thoughts on the disruption being much further than for news, here.)
Meanwhile, the advertising and marketing panelists sounded like they knew the solution -- engage consumers in a conversation, be part of a discussion, don’t just bombard them with ad messages -- and were convinced they simply have to lead others in the industry (product managers, marketers, media buyers) to think on their scale and not be locked into old methodologies. Bob Jeffrey of JWT said it doesn’t matter how much is spent on a campaign, what matters is how much it can engage an audience. Carl Fremont of Digitas called for more “active listening," then a “proactive, reactive strategy" of messaging back to consumers by joining in conversations they are having (presumably in places like social networks). He said old models of pushing ads at people weren’t going to work, and that there would be more development of social applications that provide real value and get consumers to opt in. The panelists all agreed on convergence, and also seemed to think TV would make a comeback as it became more addressable through digital technologies.
A later conversation I had with IBM researcher Bill Battino, who moderated the ad panel, said that the clients -- the companies buying the advertising -- were often leading the charge, had combined what were formally separate and segmented advertising and marketing budgets into a more unified whole from which they could then address the challenge of reaching audience through a holistic rather than silo’d media view (display ads, here, direct marketing over there...).
Whatever the state of play between clients and agencies, there was general agreement on the need for entering the “conversation” with consumers, rather than hitting them with messages, to get people to engage, to use technologies to know more about audiences, and to be genuine in messages, seemed to get general nods of agreement. One would think the same might hold for news ; after all, what better way to get at what a news consumers want than to ask them and have them contribute? I’m loathe, hesitant to say the advertising people are farther along in understanding the ways out of the current morass more than those producing news. But I can say I’ve seen it happen before, where the advertisers adapt and adopt a technology (behavioral targeting comes to mind) well before it’s talked about as a way of delivering content.