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Every Friday, The Big Smoke looks at industry news curated by MediaScope. This week …we look at the companies that monopolise us, the fractious relationships in the advertising sphere and six ways to move beyond the usual article.
These 10 companies control everything you buy (Kate Taylor – Business Insider)
Only 10 companies control almost every large food and beverage brand in the world.
These companies – Nestlé, PepsiCo, Coca-Cola, Unilever, Danone, General Mills, Kellogg’s, Mars, Associated British Foods and Mondelez – each employ thousands and make billions of dollars in revenue every year.
In an effort to push these companies to make positive changes – and for customers to realise who controls the brands they’re buying – Oxfam created a mind-boggling infographic that shows how interconnected consumer brands really are. Here’s a further breakdown of the companies that own the brands and products we use every day.
Remuneration: A loser’s game (Michael Farmer – Media Village)
Advertiser-agency relationships have devolved over the past several decades. What was once the strongest of strategic relationships during the golden age of the Creative Revolution has become lopsided and imbalanced. It’s become a buyer’s market for advertisers, who change agencies with regularity and drive down remuneration with every pitch. Advertisers seek “best in class” agencies who specialise by media, and the definition of “best in class” is a fluid one. It cannot be based on “who delivers the best results”, because agencies do not hang around long enough to deliver improved results. Their relationships with their clients last no longer than the tenure of the CMOs for whom they work – and CMOs, per research by Russell Reynolds, have the highest turnover among executives in the C-Suite.
Confessions of an advertising vet (Jessica Davies – DigiDay)
The speed of change in digital media has bred a magpie-like obsession with what’s new and shiny. And that’s been to the detriment of holding platforms to account, whether it be for effectiveness, measurement or ad serving.
People basing media planning according to where they get the best rebates, rather than what’s best for the client. The hardest thing was telling clients they had to be on certain platforms when really it was purely just for financial benefits for the agency. Is that better for clients? Probably not.
Markets will always adjust themselves in the right way eventually. We just need to put more value back on the strategy rather than leaning so much on the trading. The media strategy should be more important than the trading terms. The industry just needs reminding of its responsibility.
Six strategic lessons for publishers moving “beyond the article” (Damian Radcliffe – The Media Briefing)
To manage and monetise innovation, news organisations need to be “free of the constraints of legacy thinking”. Being able to do this can create new commercial and editorial opportunities – these efforts can sometimes be in lockstep.
Either way, being able to reach new audiences, deepen engagement and foster new revenue opportunities are strategic challenges that most news organisations and publishers are trying to address. Being selective, harnessing data, developing a product-mindset and thinking beyond the article, are just some of the traits news organisations large – and small – are embracing in their efforts to do just that.
Scott McNealy (the person behind SunMicrosystems – which sold to Oracle for $7.4b) is now working on disrupting an even bigger market segment represented in the more than $1 trillion marketers spend worldwide on a wildly inefficient advertising and content creation supply chain. His “new” company is called Wayin, which he began working on in 2011. What’s Wayin?
The company positions itself as a self-service platform that enables some of the world’s biggest brands and publishers to create authentic, interactive campaign experiences that engage and activate consumers across all digital channels. Its digital asset creation tools offer drag and drop templates to easily create just about any marketing materials.
But the big idea lies in its creative library that serves as an “iTunes-like” app store ecosystem for the advertising and marketing services requirements for just about any business. “It’s about time some of this got ‘Ubered’, if you will.”