Every week, The Big Smoke looks at industry news curated by MediaScope. This week: The landscape of marketing technology in graph form, how to keep good media sales staff, and the mistake of the newspaper industry.
The State of Marketing Technology in 12 Charts (Dillon Baker, Contently)
“When Salesforce flirted with acquiring Twitter over the last month, marketing technology (martech, for short) suddenly found itself in the spotlight. … Why Salesforce? How did these guys get so big? What the hell is a CRM anyway? You could see the questions bouncing around as people suddenly wanted to understand the complex world of martech. … Martech is everywhere. Just this year, Microsoft fought off Salesforce and bought LinkedIn for $26 billion. Meanwhile, artificial intelligence, such as IBM’s Watson or Salesforce’s Einstein, is being promoted as the future of business intelligence. And marketing technology, according to a recent report from The Wall Street Journal, is receiving more venture capital investment than advertising technology. … With so much attention on the subject, now is a good time to look at the current state of the Martech industry.”
What If the Newspaper Industry Made a Colossal Mistake? (Jack Shafer, Politico)
“What if, in the mad dash two decades ago to repurpose and extend editorial content onto the Web, editors and publishers made a colossal business blunder that wasted hundreds of millions of dollars? What if the industry should have stuck with its strengths—the print editions where the vast majority of their readers still reside and where the overwhelming majority of advertising and subscription revenue come from—instead of chasing the online chimera? … That’s the contrarian conclusion from a new paper written by H. Iris Chyi and Ori Tenenboim of the University of Texas and published this summer in Journalism Practice. Buttressed by copious mounds of data and a rigorous, sustained argument, the paper cracks open the watchworks of the newspaper industry to make a convincing case that the tech-heavy Web strategy pursued by most papers has been a bust. The key to the newspaper future might reside in its past and not in smartphones, iPads and VR. “Digital first,” the authors claim, has been a losing proposition for most newspapers.”
How Agencies Should Respond to the In-House Invasion (John Tylee, CampaignUK)
“The switch to in-house is already manifesting itself in the US. There, almost 60% of the member companies of the Association of National Advertisers have in-house agencies – an increase of 18% in seven years. … Grace Blue, which has been researching the trend among marketers to take matters into their own hands, blames what is happening on clients’ frustration at the inflexibility of agencies and their inability to react to a relentlessly changing, socially oriented world. … Moreover, with big data all the rage, companies are not eager to hand over large amounts of prized statistical information for outside specialists to manage. “More brands want to ‘own’ the customer relationship – and that means ‘owning’ the data,” Priest says. … But it isn’t just digital specialists who companies want inside the tent, he adds: “They’re looking for designers, media people and programmatic experts. Outstanding copywriters are particularly in demand by the financial services sector.” … Some believe marketers building in-house operations are profiting from the disenchantment, low morale and poor pay bedevilling many agencies.”
Keeping Good Media Sales People (Doug Weaver, YouTube)
This video from a recent IAB conference in the U.S. highlights the importance of digital sellers and offers insight into 1) why they leave and 2) provide advice on how to retain key members of the “digital sales generation.” Worthwhile.