The Advertising Agencies Still Don’t Get It

The Sniper’s Hide
In the Hutong
2240 hours

Trying really hard to look like they’re working on this deductible junket, 379 advertising execs at a conference in Bermuda told each other how worried they are about the way the advertising business works.

There was a lot of talk about how to fix the advertising business, but apparently nobody had the cojones to come right out and ask the big question (is advertising doomed?), much less give the right answer (yes) and begin talking about what would take its place.

Hint 1: Stop having these stupid conferences. If you take 379 attendees, multiply by around $6k apiece ($1,700 to attend, 5 nights hotel at an average of $320 a night, airfare, food, entertainment, etc.) and figure $1500 a day in lost work time. Call it an even $4 million that it cost the industry, or commissions on $23 million in billings.

Hint 2: The industry is in love with creativity. Get over it. It’s about results, guys, now winning awards for the cleverest or best-looking ads

Advertisements

About David Wolf

An adviser to corporations and organizations on strategy, communications, and public affairs, David Wolf has been working and living in Beijing since 1995, and now divides his time between China and California. He also serves as a policy and industry analyst focused on innovative and creative industries, a futurist, and an amateur historian.
This entry was posted in Craft. Bookmark the permalink.