I love iMedia Summit. It’s on my must attend list, every year. Great locations, great content and great people, make for a valuable experience.
At this year’s summit, it was clear we’re getting closer and closer to dropping “digital” from titles and org structures. We are on the precipice of people across all industries accepting, it’s less about digital marketing and more about marketing in a digital world.
As I connected with marketers across a wide range of industries, there were 3 familiar themes that could not be ignored.
Talent: The conversation about digital talent has evolved. At one of my 1st summits, nearly 10 years ago, the conversation was about getting funding to hire someone…anyone…who could be that digital subject matter expert. While we’re definitely past those days, talent remains a thorn. Today though, it’s a thorn because we need new recruitment models to find the right talent, we need a better talent investment plan to retain talent and we need a better plan for creating leaders in organizations who have a deep and wide grasp of digital.
Content: It’s king, right? Every marketer I talked with identified different challenges in dealing with content. The most consistent pain points were how to produce enough content in a financially viable way, how to safely source and share content (legal and Pinterest apparently are still not good friends) and how to distribute content the right way. With respect to distribution, this is a battle waiting of happen in a very epic way. The old model that classical marketers still adopt where your cost to create content should not be greater than 15% of the media but, is dead and doesn’t apply to digital and social content. You will spend more than $100k to create enough quality content to support a $1M ad but across twitter and facebook. In digital, unlike TV, distribution is cheap, but the content is expensive.
New Operating Models: What should you be doing internally? What should your agency’s role be? When do you bring social in-house…and do you bring it all in-house? We need new models and approaches to building internal capabilities and for setting our partners up for success. This will require our partners to pivot quicker than they ever have before. They will need new offerings, new types of talent and different pricing approaches. We are in a sea of disruption that’s not going to calm down any time soon.
This year’s iMedia summit reaffirmed some thoughts I had and offered new perspective to think about as I lead our Social Media and Content efforts for Walgreens. It’s also fair to say, iMedia once again reminds me of why I’ve stayed in digital for 16 years…the pace of change isn’t for the weak and it’s bloody good fun to try and keep up.