All of the below is posted by Ritesh Patel in an article called ”The Future of Advertising”. He in turn is positioning a presentation from John Stratton, VP-CMO of Verizon Wireless at the Madison & Vine Conference. Basically he is discussing a radical change in media mix, which we agree with here at Attentio. It is an interesting read.
John Stratton, VP-CMO Verizon Wireless. “Last year I spent well over a billion dollars buying space, time, air, hits and clicks across a multitude of mediums”, said Mr. Stratton. “So if you’ve been selling me this stuff, you probably need to know that I’m not perfectly happy. And I’m not alone”, Mr. Stratton said “media and advertising agencies have been dabbling in the new media, but now it’s time to jump in with both feet. We’ve been playing a game of incrementalism, in which we throw a few points of our spend at a variety of emerging channels, seeking to gain some insight into what will work and what won’t, but all the while maintaining the vast majority of our spend on the foundational mass media plan that has carried advertisers for 30 years. My view is that increasingly, large advertisers are going to scrap that approach in favor of a far more aggressive one”, he said. Having sampled and tested a wide array of new and different delivery platforms, advertisers, I believe, are going to move to a bland sheet approach, building the whole of their media mix from the ground up.”