constancy, and love sustained us through this entire journey, and throughout the personal circumstances we both faced along the way. To the extent that positive change happens as a result of this book, we dedicate it to you.
Preface
This book is for those who recognize that tremendous and far-reaching changes continue unabated in the field of advertising and marketing. It is for those who are already feeling the effects as these fundamental shifts spill over into many, if not all, other disciplines of their organization. It is for those who no longer want to respond reactively or be blind-sided, and would like to get ahead of the curve. This book is for those who sense that the relationship between those with products or services to sell and the people they seek to influence is changing drastically. It is for those whose business models are supported in any significant measure by companies, organizations, and individuals who want to get people to consider, try, buy, or recommend their product, service, or idea – in other words, are supported by advertising. And it is by and for all those who are already pioneering new approaches, who bear the cuts and bruises of blazing trails for a more desirable future, and who are already sending news back from their forays into new territory – our collaborators in this book.
Based on the input from these hundreds of innovators and visionaries from around the world and across disciplines (see Appendix 2), we have assembled a transformational set of concepts that all would benefit from considering, if not acting upon tomorrow morning. We quote our collaborators extensively throughout this book – we've italicized them to make them easily recognizable. The complete set of entries can be found on our website, and we encourage you to take advantage of the wealth of their additional thoughts, insights, and suggestions. You can find them all at wfoa.wharton.upenn.edu. Our observation is that the impact and implications of five crucial and continuously evolving interrelated forces – which we unpack in Part I – have been felt first and foremost by marketing, media, and advertising professionals. Therefore, the viewpoints of the most innovative and forward thinking among them offer a prescient guide to how to harness these forces of change in order to maximize opportunity and impact.
Why should our findings, drawn from the specific pool of advertising and marketing, be relevant to a broader audience? Because increasingly, the forces of change that have been buffeting these areas are reverberating across the executive ranks, throughout all reaches of organizations, and on to their stakeholders. The new concepts we present apply to large corporations and small enterprises alike, to anyone who has the desire to understand and harness the tremendous forces of change … or else risk being overtaken by those who do. They are relevant for those not yet in the workforce who can bring fresh thinking to their future endeavors.
Indeed, these concepts are for all of us who wish that advertising – and all interactions with potential and current providers of products and services – didn't have to be so intrusive, irrelevant, distasteful, clueless, or presumptuous.
Many executives remain dismissive of the significance of advertising, looking at it as if it were an afterthought – the final “gloss” added in order to sell stuff. It is clear that one of the main hurdles is gaining the attention of the business unit heads who see marketing as an expense item with unknown impact rather than an investment with measurable returns. Such is the persistent reputation of advertising. Deservedly so? Kevin Allen, founder and CEO of rekap Inc., examines this matter:
Advertising in 2020 will not be “buy me,” it will be “join me.” We will no longer be persuaders, rather advertising's role will be dedicated to promulgating the belief system of the brand citizenship, listening carefully to them, informing and entertaining them, taking active steps to support and nurture an ongoing dialogue, and in doing so the company and its brand will be made “buoyant” by this community because of their recognition of the genuine support for their interests. Products will become a living symbol and expression of the value system and will be seen as an ever-evolving pledge of service for the benefit of the citizenship. Brand Citizens will reward this authenticity and genuineness with their purchases. They will punish the selfish and predatory with their abandonment and the discussion in the hallways of advertising organizations must then elevate beyond the silliness of discussions surrounding ad integration or digital centricity. All disciplines will prove relevant but must be channeled toward the promulgation of a deep and abiding relationship with its citizens. (2012)
Advertisers as valued listeners, informers, and entertainers in service of grateful citizens – this sounds appealing, and it is also within reach. And yet, despite increasing evidence that this radical scenario is quickly becoming a reality, studies confirm that executives feel their organizations are not prepared to deal with the changing marketing environment. In IBM's 2010 study of more than 1,50 °CEOs worldwide, 8 out of 1 °CEOs indicated that their primary challenge was increasing and accelerating complexity, but less than half felt prepared to handle it (IBM 2010). This pattern has persisted in every CXO survey IBM has conducted since then. In 2013, IBM research found that 82 % of CMOs felt “underprepared for the data explosion” versus 71 % of CMOs in 2011, highlighting the gap between what they need and what they have (IBM 2013).
The perceived lack of preparedness is not only in regards to so-called “Big Data” but all key marketing success factors. A 2014 survey by the Economist's Intelligence Unit found that more than 80 percent of marketing executives worldwide say they need to restructure marketing, and 29 percent say the need for change is urgent (The Economist Intelligence Unit 2014).
The insights of this book offer a roadmap for addressing these concerns, helping CMOs – and their entire organization – be prepared for the change that is happening and is likely to continue unabated for the foreseeable future.
As we look to the future that is already upon us, it is clear that the creation of a compelling, unifying brand theme and its delivery through all touchpoints– including every point of interaction a person has with a brand – affects the triple bottom line and cannot be relegated to advertising and marketing alone. It requires the engagement of all the organizational silos and top management, even those that are outside of the traditional purview of advertising and marketing, to include and coordinate product development to packaging and unboxing design, from offline to online retail experiences, from face-to-face sales to all aspects of customer service, from executive blogs to employee social media.
There are therefore five key reasons why all parts of an organization, and not just the leadership, will benefit from the insights of this book.
First, advertisers and marketers are situated to have the best insights into the changing consumer behavior and market dynamics that are key to the entire offering of a firm.
Second, our conclusion that effective advertising and any message should be delivered consistently across all touchpoints impacts all parts of the firm, as many touchpoints are outside the control of advertising and marketing.
Third, with the advent of digital, big data, predictive analytics, cognitive computing (e.g., IBM's Watson), and artificial intelligence (e.g., Google's DeepMind), all parts of the organization are in the position to collaborate to undertake innovative experiments that can benefit the entire firm.
Fourth, effective “advertising” at its best can offer a coherent and powerful vision of the firm to all its stakeholders (employees, suppliers, distributors, investors, partners, customers) that is relevant and inspirational both inside and outside the organization.
And finally, the speed, magnitude, and interrelated nature of change requires an agile and innovative organization which cannot be designed and implemented only within the realm of advertising and marketing. It requires collaboration among all organizational functions.
To be successful today and prepared for what's ahead tomorrow, everyone
