June 15, 2015
What's The Value Of Creativity?
According to reports in the press, at least $25 billion in media spending has gone into review so far this year.
This is a staggeringly large number.
This seems to me to be quantitative evidence of the continued imprudent emphasis that advertisers are putting on the delivery system (media) at the expense of the product (the ads.)
How much added value are you going to get by changing media agencies? Is one agency going to buy your media 3% more efficiently? Is one agency going to charge you 4% less? Is one agency's media strategy going to be 5% more effective?
I understand that when you're spending hundreds of millions of dollars, a few percent in savings can be significant.
Meanwhile, great creative work can be 100% more effective at selling than mediocre creative work. Or 500%.
Why are we so obsessed with the delivery systems when they offer so little leverage, and so complacent with mediocrity in the product when it offers such a large upside?
The behemoths of the corporatized, consolidated advertising industry have convinced the behemoths of the corporatized, consolidated marketing industry that efficiency is more important than imagination.
This is a dreadful development in the evolution of the advertising business.
It has been creeping up on us for years. But now we have the numbers that leave no doubt about what's going on.