–by Kurt David Kratchman, Chief Strategy Officer
The Venice Festival of Media is a new conference—just two years old—with an emphasis on media outlets. It is not a market, but a place for executives to gather and share their insights. Never mind the bellinis on Cipriani Island and dinner at Harry’s Bar, I was there to work, network and ensure Schematic was represented.
Since we joined WPP Digital, Schematic’s currency continues to improve. When I met people there and said who I was with, there was name recognition, positive nods and sincere acknowledgment. Just last year, Trevor, Nick and I traveled to the inaugural event trying to navigate who was who with the help of Rob Norman, our well-connected tour guide. One year later, we’ve crossed another major threshold. We’re involved in some of the largest and most innovative deals in the world and we’re teaming with the smartest advertising and media agencies as we fulfill the newest part of the solution set: digital.
So: what can we learn from the powerful media agencies who are vying for leadership against the advertising agencies? For me, there weren’t any truly provocative discussions. I heard some safe speeches about the need for more innovation, measurement and digital leadership. I also saw a fair amount of showcased work that was stale and unemotional. People seemed to be playing it way too safe. The media heavies poked the ribs of the advertising agencies, and the advertising elders poked back, by speaking of the power of “words” and “ideas” and joking that the media side can provide only buying power and not offer emotion.
For me, the important question that emerged is this: what are the customers, the “buyers,” demanding?
The major customers are all seeking integrated agencies with media planning and strong creative messaging, but all of them are asking that the strategy and core development be driven by the digital agency.
This shows us where we need to grow and develop. By understanding the media and advertising sides of the business, Schematic gains enormously by influencing the budget allocations of these large accounts. Advertising spend is not shrinking—there’s no recession in our part of the business. Our opportunity, our business imperative, is to further build out our digital service offering to meet the demand of the market. Scaling this will be done the Schematic way: thoughtfully, with experimentation and innovation.
Our job is to fill the chasm between the customer, media and advertising. I think we’re on the right track as we continue to focus on the development of innovative digital products and services.
