My Transformed Thinking: 4As Transformation Conference
By Kenetta Bailey on 03/27/2014
(photo Credit: 4AsTransformation.com)
This year’s 4A’s Transformations Conference in Los Angeles was full of informative kernels that created a mental collage for me of where the advertising and media industry is currently and where it’s headed in the near term. Many of the sessions were thought provoking, and I guess that was the point – to expose me to information that would make me want to change my way of thinking, start an interesting conversation, or alter the way I go about my daily life – if even in just a small way. Three key nuggets did just that:
First, American Express CMO, John Hayes, brought up the notion of “Sharing.” I’m not talking about kids sharing toys, borrowing a dress from your Bestie or ordering an array of sushi to be shared by a group of friends at the table. Instead, I’m talking about sharing BIG ticket items such as cars, real estate, and retail. While I see Zipcars buzzing throughout the streets of NYC, it never dawned on me that each car sharing vehicle in the U.S. reduces ownership by nine vehicles; and by 2020, it will reduce the number of cars on the road by 1.2 million. John Hayes made me think….is this good or bad? Bad for auto manufacturers, but good for the environment, I suppose. It also brings up the question: how can automakers adapt accordingly? Hayes pointed out that in 2014, the overall “Sharing Industry” will generate $3.5 billion in revenue. Not surprisingly, the tech savvy, connected millennial generation, which wants to revive the economy and build a better world, will contribute substantially to this sharing phenomenon.
Second, Ryan Seacrest’s comments altered my thoughts about radio. I do flip to my local NYC stations on my daily drives, but I must admit that I sometimes think of local radio as a bit passé. Given the vast array of options I have with satellite and internet radio apps, I’m no longer wed to my in-market stations or DJs. Although, as Seacrest said at the 4A’s, you can’t discount the velocity and speed at which local radio can deliver a message, especially a localized message that informs people with immediacy. To quote Seacrest, “radio is America’s companion.” It sits with us in the car while were stuck in traffic or running errands, we sing along with it, and we talk to it; radio literally keeps us company. If you boil it down, it is one of the first forms of “Native Advertising,” something we marketers and media professionals are looking to employ in new media formats. Now that I have a new perspective on radio, will I start listening more to my local radio stations? Maybe not, but I will challenge myself to think of innovative ways to use radio to move brands forward.
Third, Marissa Mayer of Yahoo! spoke about the company’s recent $1 Billion purchase of tumblr. and it’s monetization. She commented that the ads on tumblr. would have to be, “as compelling and beautiful as the art projects and poetry that you see posted there.” Tumblr. is populated with a myriad of delightful, fun and personalized content so the challenge will be for brands to match the aesthetic and content level that tumblr. currently houses. Looking forward, I have my thinking cap on for this platform to find ways to promote brands in this environment.
I can’t end this post without giving honorable mentions to Mondolez’ CMO, Dana Anderson and NYT reporter, Maureen Dowd. Both Anderson’s presentation on collaboration and Dowd’s on “Is Washington Necessary,” were inspiring and hilarious. Look up the post-conference coverage: www.4astransformation.com
While the conference was insightful, I’d be remiss in saying that one of the best parts of being in LA for the 4As wasn’t the speakers or even the California sunshine. It was surviving the earthquake; as for those of us who live east of the Mississippi, in general, we’re not built that kind of excitement!
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