Every Friday, The Big Smoke looks at industry news curated by MediaScope. This week: collaboration and chemistry, think like a data scientist, micro-influencers set for industry shake-up.
Collaboration in Adland is no longer an option – It’s a must (Mike Le – MediaPost)
In the agency world, we often find ourselves working with other agencies on major client accounts, each handling a piece of the work. It is more and more common that we’ll see a brand agency, creative agency, advertising agency, and a digital agency all in the same room discussing a project. In some cases, there’s a master agency coordinating the other agencies. In other cases, the client is the central point of contact without an agency taking the lead. And while this shift toward a more collaborative approach is increasingly what is required today, that doesn’t make it easy.
Two advertising agency and client chemistry strategies (Peter – PeterLevitan)
Interpersonal chemistry is one of the most important decision-making criteria that a client uses when selecting an advertising agency. I also
think know that chemistry can be massaged and managed. In fact, if you want to win, you better work on releasing those special business pheromones. Recently a client asked for a “let’s get to know each other” chemistry meeting because they knew that by the time they had narrowed their list from the four thousand agencies out there (yikes) to seven, much of their decision criteria on which agency to move forward with would come down to likability and an understanding that the agency had the intelligence to help efficiently grow the client’s business. The client needed this meeting because…all advertising agencies look the same!
Confessions of an influencer agency exec on micro-influencers: “It’s all going to implode” (Grace Caffyn – Digiday)
Micro-influencers are having a moment in the spotlight, as focus shifts from big-name (and big-cost) social media influencers. A recent survey of 2,500 micro-influencers by Bloglovin’ found 84 percent of small-scale influencers charge under $250 for a branded post on Instagram. By contrast, the same post would set brands back $75,000 on an Instagram channel with an audience in the low millions. And with engagement floundering among higher follower counts, brands like Nestlé and Neutrogena have been wooed with the prospect of reaching a more engaged audience for less money. But not everyone agrees that good things come in small packages. As part of our ongoing Confessions series, where we grant anonymity in exchange for honesty, we spoke to an Instagram influencer agency exec who believes micro-influencers are a “bubble” waiting to burst. See more Digiday Confessions…
Learn to think like a data scientist (Tye Rattenbury – AdAge)
At this point, it’s cliché to emphasise the potential benefits of leveraging data to innovate and advance your marketing efforts. Every marketer knows the value of a data-driven campaign. But being “data-driven” is still elusive. Sure, data is used here and there, but the breadth of available data is largely untapped. Beyond transactional records and CRM databases, there is the incredible depth of interaction data that can be used to strengthen modern marketing and advertising efforts. There are contextualising public data sources like census demographics, macroeconomic indicators, weather records, social media posts and responses, and so on. Last, but certainly not least, are datasets generated from the targeted use of platforms like SurveyMonkey. How can marketers use data more effectively? For starters, they can learn to think more like data scientists.