The 21st Centry Agency AdWakening - April 24, 2009
The business of advertising — its work product and its financial model – has clearly changed from that of the past. The wonder emphasis on brilliant creative and the dominance of broadcast and CPM assessments are things of the past. The technological advances, the cultural values and life style of that key 21-34 year old target audience, Generation G, the affection and attention that consumer generated media receive have all contributed to what may be the major transformational change in this field since the 60's. The changes in the practice of advertising, the effects on the growth and dominance of ad agencies, the challenges of marketing in a global and digital milieu calls, I think, for those helping to define this innovative and disruptive operating environment to bring their perspectives to the Academy. And, I think that The University of Texas at Austin -- with some 1600 undergraduate majors and 200 graduate students -- is a wonderful place for that definition and new perspective to take place.
The new event we are planning is called "AdWakening: The 21st Century Agency" and will be held on this April 24th at the AT&T Executive Education Conference Center. The topics will include the impact on advertising strategy of social networks as opposed to the "big idea search" in agencies which has for so long dominated advertising, the emergence and placement of digital media, the importance and compensation for intellectual property, fee structures and contributions from media commissions to gross agency income -- as well as other issues. The millennial influence and the engagement practices that this audience brings to media, the critical role the mobile digital market represents (particularly off shore), new metrics that will define the effectiveness of the messages delivered, the ways in which the advertising creative work product will relate to concerns about the value of intellectual property -- all will help determine new financial models for the advertising business.
These are the invited participants:
- Greg Andersen – Managing Director, BBH, NYC
- Grant Richards – Managing Partner, Engine Company 1, San Francisco
- Liz Ross – Agency CEO In-Waiting, Chicago
- Peter Hayes – VP, Integrated Marketing , AMD, Austin
- Bob Garfield – Writer, Advertising Age & Co-Host NPR “On The Media”, D.C
After the agency principals have presented their thoughts, a round table discussion will close the formal proceedings; Bob Garfield has agreed to moderate and chair that closing event. To close off the afternoon, of course, a cocktail hour and mixer. (From Mad Men to today some things are better unchanged – and the Conference Committee is trying to encourage Matthew Weiner to come as well.) We expect an audience of 350 (about equally split between students & faculty and practitioners) and early registration is suggested. Program details and registration are available at <adwakening.UT@gmail.com>