Cannes Film Festival and Breaking Old Models
As the global advertising community sips Rose in France and congratulates themselves on another year of great work, the business model that underwrites this party is washing away. Like a sandcastle against an incoming tide, the celebration in Cannes and the advertising it honors is eroding by the moment. The Wall Street Journal chose to illuminate the challenges the ad industry faces in a feature article that published on the opening of the Cannes Festival, “Advertisers Try New Tactics to Break Through to Consumers.”
The WSJ reporter, Suzanne Vranica, makes the point, “People are avoiding print ads, skipping through TV ads and cutting cable subscriptions.” The result she says is, “companies are rewriting their marketing playbooks. Some are blurring the line between advertising and content, in the hopes of passing through the filter of what consumers actually see and read.” Today, advertisers are challenged to create content that people will actually find of value. It’s a new paradigm for advertisers and their agencies. The old playbook of reach, frequency and interruption is going out with the tide. eMarketer has just projected a double digit jump in ad blocking this year. Consumers are speaking. They won’t watch ads if they don’t have to!
One way advertisers must shift their strategy is to partner with creators whose influence can help promote their brand. Brands are really just beginning to figure this out, and the whole business of influencer marketing is just taking form. This chapter of our docu-series explores how brands can and should work with influencers. We take a close look at the challenges in doing so. Check it out!