Speaker Series: Jonah Bloom

Today was the first lecture in the Adcenter speaker series. To kickoff the school year Jonah Bloom, editor of Adweek, came to speak to us. His talk was entitled "Marketing is Dead, Long Live Marketing."

Bloom suggested that we read the following books:
"A Whole New Mind" by Daniel Pink
"Advertising is Dead, Long Live Advertising"
"The Substance of Style" by Virginia Postrell

The three big words in his presentation were Asia, Automation and Abundance.

Bloom talked about the fact that outsourcing and commoditization were forcing people to try to make products either better or cheaper (which is now almost impossible, in the case of cheaper). People no longer want for anything anymore. At this point America is in a search for meaning: we aren't any happier jsut because of what we have. Bloom noted that P&G now has more designers than engineers. Marketers are now understanding the importance of aesthetics.

A large part of his talk was on the shift from pure function to meaning. It has become necessary to add meaning into the things we sell. Axe deodorant has become a status symbol and toilet brushes are now made by designers.

Marketing has had to become more honest because the consumer is in control. Communication channels are endless and marketers don't know where they will catch consumers. Bloom mentioned two models of marketing: the push and pull models. In the Push Model, consumers will be there waiting for you. In the Pull Model, consumers have to want it. They must be accurately targeted if you want to attract them to your message. In the Pull Model, the best advertising is inseparable from the best content.

New Tools:
1. Search Marketing
2. The use of Smart Databases

Bloom continued his speech by talking about consumer creation and co-creation. Agencies are now trying to get consumers to co-create marketing messages, sometimes with success and sometimes not (in the cases of the Burger King mask videos and Chevy Tahoe commercials).

In terms of measurement, Bloom spoke about the fact that companies were more and more interested in the idea of ROI. As marketing bcomes talked about it becomes more disputed. Brand Officers have to answer serious questions from their companies and shareholders about how money is being spent. Measurement is no longer about tiems seen, it is now about times clicked, considered, gone to store, etc.