Talent, balance, tech: 2014’s biggest challenges for media
As is the case with any aspect of the communication business, media too is facing challenges of its own. Various concerns confront industry leaders. While some of these are about attaining the right balance between the science and the art, the old and the new, some are on the questions raised on the ability to understand, and deliver on, expectations from new technology. Amidst all this, the underlying challenges of talent continue.
For industry thought leaders, one of the biggest tasks at hand is whether it is possible to take collective steps to address some of these issues, and structure a way forward for the business. In the lead-up to Festival of Media Asia Pacific 2014, which takes place this month in Singapore, some of Asia Pacific’s top leaders will delve into what they believe are the biggest challenges for the industry, and how brands and agencies should adapt to overcome these.
Some of the biggest challenges…
Cheuk Chiang, Omnicom Media Group
Cheuk Chiang, CEO, Omnicom Media Group APAC
“The media landscape is rapidly changing. Technology is transforming the way consumers engage with brands and the purchase cycle is not non-linear and broken. Now more than ever, delivering a greater return on media investment is top priority, and the great news is that the new data rich world allows us to track, optimise and plan for more effective campaigns. The challenge for both marketers and agencies is to get the blend of art and science right. The media agency model will evolve and media agencies will shift from being media agents to data experts, creative technologists, content managers and producers, social experts and marketing investment managers – portfolio managers focussed on managing risk for their clients. Exciting times certainly lie ahead for our wonderful business.”
Michel de Rijk, Xaxis
Michel de Rijk, Managing Director, Xaxis, APAC
“Talent, talent and talent. We are in a business that hardly existed two decades ago and finding the right talent that is able to keep up with the ongoing fast paced developments in our industry is difficult. The lack of good and relevant education programs and constant change of talent requirements makes it a challenge to staff up to the level that the industry needs. The only option is to build from the ground up, hire talented people and continue to educate them actively,”
Robert Woolfrey, Millennial Media
Robert Woolfrey, MD, Millennial Media, APAC
“Measurement is one of the most critical issues facing the media industry today. The challenge starts with the fact that digital media is constantly evolving. From new devices to slick new ad units, agencies and brands look to implement the hottest trends and mediums, but grapple with a way to measure. While an accepted and highly cited metric, CTR often falls short of true campaign goals. In order to overcome this issue, it’s imperative for the industry to work together to standardise measurement and go beyond the ‘click’ to tie impressions back to meaningful results.”
Charlie Crowe, C Squared
Charlie Crowe, Chairman, C Squared
“As the mobile industry continues to grow and develop, with the emergence of new technologies like programmatic buying on mobile providing new and improved ways to effectively target audiences, it is crucial that marketers stay up-to-date to remain ahead of the game. The ability for agencies and brands to be agile in the light of new mobile marketing tools and methodologies will be essential for their survival in this increasingly competitive marketplace. This is the theme of this year’s Festival of Media Asia Pacific, which takes place this month, providing a platform for discussion on some of the most pressing issues challenging the industry today.”
Rohit Dadwal, MMA
Rohit Dadwal, MD, Mobile Marketing Association, APAC
“The world of communication facing marketers today is dramatically different from even five years ago. Achieving the perfect balance between traditional and new media is a big challenge that marketers are grappling with at the moment. Strategies need to evolve in a way that newer media such as mobile becomes an integral piece of the media jigsaw and while brands recognise this, they struggle to quantify the impact of these media on the bottomline. The three I’s – Investment, Innovation and Integration – will be the keys for marketers looking to make a smooth transition into the new media world.”
The Festival of Media Asia Pacific will take place from 16-18 March 2014 at the Capella Singapore. Some of the conversation points at the platform include the future of Native Advertising in Asia, virtual media trading, social media in the newly-opened up Myanmar, unlocking the potential of Indian consumers and understanding Bitcoin, among others.
