If content is the king, then who is ruling the dynasty?
Day 2 at the Festival of Media, held in Montreux, Switzerland, began with the most relevant news for all the delegates at the Festival and across the media fraternity – Greg Books, Head of Content and Strategy, C- Squared Communications, shared the news of Microsoft acquiring Skype. This is one of the biggest buyouts in over three decades, Microsoft will snap up Skype for $8.5 billion in cash.
The first half of the day was focused on Ideation and the social network. Brian Wallace, VP - Digital Marketing and Media, RIM, kicked off the discussions, saying, “Brands will work like venture capitalists and will be ready for taking more risks and ownership. Investing in content and focus towards user generated content is where the future lies.” He also said that more and more clients were going direct with content publishers to get the desired and relevant content at much higher speed. “Media planning agencies need to shift their current model of operations to a more performance based compensation model, which has already been in practice by most digital buying agencies,” he added.
Adding from the same platform Carolyn Everson , Global sales Director Facebook opined that “ Silo models run by most of the media agencies will die its own death. Clients are interested in one shop for all its solutions and we need to work in terrific partnership whether we specialize in TV, Print , Radio or Digital. She also shared some remarkable facts as how the news and the media consumption is changing in US.
Fifty per cent of the Americans get their news from friends and relatives; 60 per cent find jobs through friends; 90 per cent get recommendations of music from friends. Reaching real people and touching the same real people online leads to era of word of mouth marketing. She firmly believes people first and content second as few passionate people can activate many.
Slicing in detail Pete Blackshaw , Global Head of Digital & Social Media , Nestle said “ We have got great data and enough experience about paid and earned media .Now the job of the agency is to make smart and informed choices from the data and attract the right and relevant target audiences.”
According to Will Merritt , CEO Zooppa “ Crowd sourcing content can be best use to engage and target consumers as great ideas can come from anywhere. Digital culture is also shifting from downloading to uploading culture. He added that definitely there is a space for User generated content along with the professional content but it clearly depends upon the brand the way they perceive and use it .”
Now a bigger question arises from the above discussion who is the king ?Content, People or Data .
The most awaited and exciting part of The Festival of Media is the Grand Award Night. Great news some recognition for Indian media agencies too.
There are two categories in which the High commendation were acknowledge are:
1) Best Use of Mobile : A quick call and say good bye to Headache- Mindshare
2) The Best Communication strategy : Launching Volkswagen Polo In India- Mediacom.
Agency of the Year- Starcom Norway
Network of the Year- Starcom Media Vest
(Amit Tiwari is GM, Country Head Media at Philips India.)
Guest Article: Philips’ Amit Tiwari @ Festival of Media – Day 1 post
Guest Article: Philips’ Amit Tiwari @ Festival of Media