What next for the media industry? 2017 revealed
In the first of two specials, VCCP, MediaSense, Blackwood Seven, Posterscope, Videology and Newsworks reflect on the year gone by - and offer their thoughts on what 2017 will have in store
WE NEED A CODE OF ETHICS
Andy Pearch, co-founder and director, MediaSense
2016, the "annus horribilis" for media agencies. Reputations were battered, commercial models criticised and trust undermined. Agencies must grasp this bull by the horns in 2017 and focus on four ingredients.
Purpose. An agent is "a person who acts on behalf of another". Agencies must convince they are working for clients, not for themselves. This means fighting miscreant behaviour; opening up trading desks and vendor deals to clients; accepting responsibly in contracts, not inserting escape clauses.
Integrity. The industry urgently needs a code of ethics - conflicts of interest must be policed. Agencies must demand better data integrity from walled garden media suppliers, and set higher standards in their own data provision. Be honest about why they are investing in a platform, and be prepared to walk away from delinquent media owners and clients.
Capabilities. Marketers want to work with competent, efficient, transparent and collaborative agency partners who ride with change. Agencies applying technology to improve operational productivity will win. To keep up agencies need more CTOs, CIOs and Data Scientists in the boardroom.
Performance. It's a results business. Agencies must align with clients' KPIs, not self-serving auditor metrics. Agency brands will step out of the shadow of their holding companies and negotiate KPIs directly with their clients.
A NEW SKILLSET FOR MEDIA RESEARCH
David Brennan, Media Native
To misquote Negroponte, the future of media research will be to no longer think of it as media research. It will be about creating smart insight from big data and applying innovation to audience measurement.
It will be part of a confluence of research, insight, intelligence, analytics, futurology and strategic analysis, hopefully the part that coheres the data and creates sense from chaos. It will be far more about effective communication of often complex insights and relationships.
It will be about seeking the universal truths at a time when 'fact' becomes conflated with 'opinion'. It will be about persuasion as much as reporting and inspiring debate far more than closing it down. In the future, media research will increasingly move from the rearguard to the front line and from the pragmatic to the creative.
In short, media research will require a special kind of skill set from its participants. If this vision excites you, you're in the right job. If it doesn't...have you ever thought about accountancy?
Jana Eisenstein, managing director EMEA, Videology
In 2017 we will see a dramatic rise in the deployment in ad-tech across all media channels, with a particularly speedy activation in TV.
Next year, in the UK, will be seminal in the development of programmatic TV as Sky, Virgin and BT all line up progressive ad-products utilising first-party data and set-top-box technology. These platforms will open up full, addressable TV, with cross-device measurement that is as effective on the main TV screen as it is across its digital cousins.
Elsewhere, there will be increased and more coordinated lobbying of the walled gardens from advertisers. While acknowledging the essential place of Facebook and Google on media plans, advertisers will increasingly argue that it's imperative that they are subject to the same third-party measurement as legacy media brands to provide holistic and comparable campaign reporting.
Facebook's recent relegation regarding dwell times on video is indicative of the need to create a universal metric and universal measurement standards that everyone can trust.
Clare Hill, managing director, Content Marketing Association
I predict that measurement and data will continue to be key focus points for the media industry, and in particular for content marketers, in 2017.
Measurement and the use of data are critical to content marketing strategies - drivers in the content marketing space are making the maximum possible use of data, not just to inform, plan and execute their content plans, but to iterate and optimise along the way.
The content marketing industry is divided over whether regulation around data protection should be stricter. Part of this is related to how data is accessed and utilised, who the data belongs to and how open brands are to share data.
However, what we do know is that there is also a real appetite to expand the boundaries of content marketing measurement around what can accurately demonstrate the discipline's return on investment. We look forward to working together as an industry to ensure clarity across the board next year.
Part two will be published on Monday 19 December - with views from Sky, JCDecaux, Thinkbox, IAB, Media iQ and many more...