One of the great things about leading an independent professional practice is that I get to engage with organisations in various parts of the ecosystem. This naturally includes marketers, content creators, agencies, measurement houses and, of course, platforms.
I am sure that we all see ample evidence of these components beginning to overlap and, of course, of new players entering the picture. Yet in a recent conversation I was reminded about how, at a time when arguably there needs to be greater collaboration, there is in fact increasing suspicion of what each is up to. So while we are making progress, we still have a way to go.
An example, at a time when space-based advertising, including display, is giving way to other forms of advertising, media owners pondering this shift need to dig deeper into understanding not just brands’ media spend but overall marketing spend. More and more marketers are rebalancing their overall budgets, both internal and external, of which media spend is just one aspect of the mix. Better understanding those shifts will provide new areas for collaboration and revenue—inevitably this reflects the changing ecosystem.
The one area where everyone is focused is how to get closer to, gain the trust of and then manage the relationship with the end consumer. Using content to do this is still a key hook. Media owners are increasingly realising that they need to expand their portfolios and include a broad range of digital assets that can adapt to brands’ needs, in order to ensure that they don’t lose out.
The message—yet again—is today’s winners will be the ones who invest in understanding the overall ecosystem, collaborate better and don’t just get caught up in their own ‘world’!
Marcel Fenez is global leader for entertainment and media, PricewaterhouseCoopers. Follow him or Tweet him at @marcel_fenez