3rd Annual Wharton Future of Advertising Super Bowl Tweet Meet

The Wharton Future of Advertising Program held our 3rd Annual Super Bowl Tweet Meet on February 3, 2013 featuring experts and pundits invited by host Catharine Hays, Executive Director of WFoA, and Scott Goodson, CEO of cultural movement agency StrawberryFrog and WFoA GAB member.

The Super Bowl is to Madison Avenue as the Oscars are to Hollywood: all eyes are on us.  Who will win and who will lose?  We’re talking Brands as much as Baltimore. Social Media as much as San Francisco. And everyone is rooting for a close game right down to the final whistle.

The Tweet Meet ran during the Big Game, featuring industry luminaries, witty pundits, Wharton professors and social-savvy students to offer live commentary on the ads.  We’ll all be at our respective parties, and some may even watch the game, but our job will be to lean into the TV, our tablets and our smartphones for the ads, listen with our Future of Advertising ears, take the pulse of the room and tweet out real time.  Just include the #whartonfoa hashtag to join the conversation.

This year’s line up includes Scott Goodson @scottfrog, CEO of StrawberryFrog, and the co-founder of the event, along with fellow Wharton FoA Global Advisory Board members and Blue Focus Marketing’s own powerhouse, Cheryl Burgess @ckburgess. More panelists are confirming daily (some dropped out because they are going to the game. What??) so check back on the Wharton FoA Super Bowl Ad Tweet Meet page for updates.

Why Watch?

The 2013 Super Bowl Ad landscape is shaping up to be more interesting than ever.  The Ads during the game, and all that brands and their fans are wrapping around them, provide a focused lens for how the industry continues to be redefined by investment, innovation and experimentation.  Join us starting today for pre-game chatter at #whartonfoa, to learn, share and collaborate as this bigger than life event rolls out real time. If you can’t make it for pre-game chat, make sure you join us for Super Bowl coverage on Twitter. You also can follow our panelists and all #whartonfoa tweets on our Twitter stream online.

How important is the Super Bowl to the future of advertising?  Here’s where we see it fitting in.

  1. Spend.  Advertisers are spending more than ever on this play, from $3.7m to$3.8m for a 30-second spot on this one, single medium on this one, single night.  It’s a big bet, just for the price of entry.  With such a big wager, how are brands ensuring that they place a winning bet during the game?  How have they connected with the rest of their advertising AND marketing spend to complement and enhance the media outlay?
  2. Secret.  Or not?  This is not a question of whether an advertiser should or should not release some or all of the ad before hand.  The question is who should release it to the public for consumption and sharing before the big game, how and why? And perhaps more interesting, do the ads suggest any secrets to be unveiled, and conversations to be generated after the game?
  3. Social & Screens.  It’s official: compelling research shows that the more sharing, the more fame, the better for the brand.  Online or offline, positive talk about your ad creates social capital, especially on a scale as the Super Bowl.  How will advertisers enable the conversation and keep it going?  Who collaborates, enables and empowers their audience best? With data showing that two-thirds of TV viewers are using multiple screens, how are marketers planning and orchestrating across tablets, smartphones, TV and more.
  4. Story.  How do the ads touch our core?   What do we remember?  What is it about the creative that rises above the clutter and captures our attention?  And our heart?  So much so that we want to talk about it.  And we want to be associated with it.  Or does the story have the opposite effect?
  5. Success.  Did people make a purchase as a result of the ad?  Or are the brands using it as part of a bigger ecosystem and bigger data analytics to impact ROI?  How do they measure success? Is it about the touchdown or the whole season?  The team on the field or the whole franchise?
  6. Social Impact. What happens when an ad is more than an ad?  What happens to the returns for the brand and to the impact on society? Should advertisers care? What if empowered consumers made them care through social media?  How do entertainment, aspiration and escapism fit into social good creation?

Facebook Roundtable

At Macy’s Headquarters in NYC, a panel of CMOs and social media experts convened on January 18, 2013 to explore how companies use Facebook to drive their business forward. Co-hosted by the Baker Retailing Center, WFoA, and the Wharton Customer Analytics Initiative. Faculty members from the three centers facilitated the session.

The following topics were addressed:

1. What is the role of Facebook in the shopper experience and in driving people into the store (both offline and online)?

2. What are the appropriate metrics to measure the ROI of Facebook?

3. What is the role of Facebook in promotional/brand building strategies?

Plans included developing new frameworks and models for thinking about these questions as well as a research agenda.

 

ARF Re:Think 2013

Professor Jerry Wind presented “Advertising 2020: What Could/Should it Look Like and What Do We Do Now to Get Ready For It?” as part of the segment on “Gaining a Deeper Understanding of People” at the ARF Re:Think 2013 Convention in New York City on March 19, 2013. The four-day conference brought together senior marketing and advertising executives from around the world to examine the state of advertising research.

Advertising 2020 Contributor Roundtable: Taking Action Now

“Taking Action Now for Advertising 2020”: This invitation-only roundtable was held at the Penn Club in NY on April 25, 2013. Attendees discussed findings and future visions from the Advertising 2020 project.

Roundtable Participants:

Jeff Boehme, Chief Research Officer, Kanter Media NA
Cheryl Burgess, CEO/CMO, Blue Focus Marketing
Mark Burgess, CSO, Blue Focus Marketing
Thomas Burkhardt, VP Global Marketing, Coty Prestige
Evelyn Chen, VP Marketing Communications, Kantar Media
Bob Greenberg, Executive Director, Advertising Week Experience (AWE)
Julia Gometz, Founder, The Brandful Workforce
Bill Harvey, Vice Chairman & Chief Research Officer, TRA, Inc.
Catharine Hays, Executive Director, The Wharton Future of Advertising Program
Nancy Hill, President & CEO, 4A’s
Yaakov Kimelfeld, Chief Research Officer, Kantar Media Compete
Karsten Koed, Managing Partner & Chairman, Gorm Larsen Zornig
Denise Larson, Principal, Founder, NewMediaMetrics, Inc.
Ian Leuchars, SVP Strategy and Marketing, 24/7 Media
Sherrill Mane, SVP Industry Services, IAB
Carl Marci, CEO & Chief Science Officer, Innerscope Research, Inc.
Tom Morton, Chief Strategy Officer, Goodby Silverstein & Partners
Evelyn Neill, Executive Creative Director, Doremus
Steve Rappaport, Director of Knowledge Solutions, The ARF
Alexa de los Reyes, Program Coordinator, WFoA
Steven Rosenblatt, Chief Revenue Officer, Foursquare
Hayes Roth, CMO, Landor
Alan Schulman, Chief Creative Officer, SapientNitro NY
Saurabh Sharma, Planning Partner, Ogilvy & Mather, Beijing
Howard Sherman, Global President, Doremus
Rishad Tobaccowala, Chief Strategy and Innovation Officer, VivaKi
Barry Wacksman, EVP, Chief Growth Officer, R/GA
Jerry Wind, Lauder Professor, Professor of Marketing, The Wharton School
Nikao Yang, SVP New Business Development, AdColony

Some key takeaways:

“Risk-taking cultures will be more successful. We need engineers and scientists in marketing organizations. CMOs need engineers at their sides at all times.” – Steven Rosenblatt

“Advertising needs to worry about closing the authenticity gap and bringing the experience closer to expectations. It’s not just what you make or the service you’re offering that counts; you can do that really well, but if management’s not doing the right thing, there’s no bigger vision or mission, you’re going to have a piece of the gap. We’re good at creating and pushing messages, but we’re still lousy at engaging in conversations.” – Joe Plummer

“We need to do a lot more with less or the same. Budgets  are not going to increase, and the need for diversified touchpoints with less money requires us to understand ROI and who we’re reaching. The tools are still in infancy.” – Thomas Burkhardt
“The future of advertising cannot exist separate from employees. Hire your fans!” – Julia Gometz

“If everything becomes digital, there’s going to be a premium on things that are not predictable. Everything offered will be largely driven by creativity and technology and will be built on the collaboration with customers and clients.” – 
Saurabh Sharma

“The future is digital and analog, eg. Foursquare and Facebook. People are analog. Advertising will be about acts, not ads. Companies should cut ad budgets and improve products and service. We need to incentivize, train, and hire people differently. Change people’s mindsets or change the people.” – Rishad Tobaccowala

“The old formula: line extension + mass media, does not work anymore. The real problem is commoditization. There’s so much choice, no brand can control the market. A new class of companies with new growth models will emerge, like Nike’s. Ecosystems of value. No new ad campaign or new model of shoe will change the market, it will take innovation.” – Barry Wacksman

“Social media is a life and a world, not a tool. There is no public/private, no online/offline.” – Karsten Koed

“Technology enables connections, it is not technology for its own sake. Advertising in 2020 will be a catalyst.” – Mark Burgess

“What do we need to do? Become more collaborative. The goal is to attract the mentality of digital natives, not necessarily an age group.” – Nancy Hill

“In the future, advertising will be felt. Every agency will need a customer experience department.” – Denise Larson

“There’s a difference between SALIENT and RELEVANT.  Hand waving is salient–you notice–but not relevant.” – Carl Marci

“How are we building businesses to address aging populations? We’re confronting a world with a lot of money in the hands of people not necessarily living the way of millenials.” – Sherrill Mane

 “Advertising will be instant and organic, resulting in fantastic engagement with the consumer. Also the mobile device becomes the central point of connectivity for every aspect of life.” – Nikao Yang

“Consumers will engage in advertising when and where they want to.”- Ian Leuchars

 

 

Fast.Forward.Connecting marketers with innovation

Partnering with Google’s Fast.Forward Channel on YouTube, WFoA helped launch a collection of short interviews with 292 leading industry experts and academic thought leaders to offer their perspectives on the evolving world of marketing. With the goal of connecting marketers with innovative ideas, as well as other marketers, the video explores a range of hot topics on the future of marketing, such as the role of social media, defining the “branded environment,” and the importance of experimentation and innovation. Data from the interviews was then analyzed into a formal report by Immediacy Mobile Learning.

Click here to view video.

Ad Effectiveness Measurement and Methods 2013

A follow-up gathering to last year’s successful “Ad Effectiveness Measurement and Methods Gaps Roundtable” will be held on February 1, 2013 at the ARF offices in New York City to continue and deepen the discussion on identifying high-impact, high-priority areas in ad effectiveness measurement. This session will focus on the following questions:

1.    What are the most important gaps in advertising effectiveness measurement and methodology? Why?

2.    What efforts are underway to address these gaps?

3.    What else should/could we do to fill these gaps?

4.    What should be our litmus test of success?

Advertising 2020

The world of advertising is rapidly evolving and it’s more pressing than ever for us to stop and consider, what is its greatest potential? How can we make it happen? We’ve enlisted thought leaders and visionaries from around the world to help us delve into this rich and important concept by answering two provocative questions.

Wharton Global Alumni Forum: Tokyo

As part of the Wharton Global Alumni Forum, Professors Jerry Wind and Hotaka Kithara, with the participation of leading practitioners from Hakahodo and Nissan, presented: Are you ready for the changing face of advertising and marketing in Japan and around the World? Findings from the WFoA.

The business environment in Japan and around the world is changing at unprecedented speed and magnitude. Consider the increased importance of the empowered and skeptical consumers, the proliferation of media fueled by unparalleled advances in science and technology, the  fragmentation of markets, and the emergence of the BRIC countries as the new giants.

The purpose of the session was to explore the implications of the findings of the WFoA project Advertising 2020 to advertising in Japan and around the world. This interactive  session reviewed the findings of the Japanese entries, compared and contrasted them to the views of the other global experts, and focused on the short and long-term implications of these findings to advertisers and their agencies. Participants in the session were encouraged to assess their own advertising and marketing strategies against the emerging vision of Advertising 2020 and its implications to advertising today.

At the three day event, over 35 speakers participated in seven panel discussions. Moderators of the event included:

windJerry Wind, Lauder Professor, Director, SEI Center for Advanced Studies in Management; Academic Director, The Wharton Fellows Program, The Wharton School

The Brave New World of Advertising: The session explored the implications of the findings of the Wharton study on ‘Advertising in the Year 2020’ to advertising in Japan and around the world. Advertising 2020 is examining the views of over 200 of the world’s leading thought leaders including key Japanese experts, on two questions: (1) what advertising could / should look like in 2020? and (2) what should companies do now to get there?

mitchellOlivia Mitchell, International Foundation of Employee Benefit Plans Professor, Executive Director, Pension Research Council; Director, Boettner Center on Pensions and Retirement Research, The Wharton School
Now For the Hard Part – Aging in the World Environment: According to the Population Reference Bureau, by 2055 Japan will have only 90 million inhabitants (down from 128 million now). Yet two-fifths (41%) of them will be over 65 years old, almost double the current percentage. How will the other three-fifths live while supporting the longer lives of the elderly? Continuing current practices and policies is clearly unsustainable. What can be done? Like global warming, this problem seems to be an inevitable challenge of life in the 21st Century. We can try to alter the trend, but learning how to live with the trend is also a wise option. This panel brought together a group of experts to discuss challenges and opportunities relevant not only to Japan, but also to other countries that have aging populations or that will eventually face these same challenges. Wharton Professor Olivia S. Mitchell moderated this panel discussion, which included time for audience questions and participation.

cohenMorris Cohen, Panasonic Professor of Manufacturing and Logistics, Co-Director, Fishman-Davidson Center for Service and Operations Management, The Wharton School

Global Supply Chain Management – Outsourcing, Re-Shoring, and Near-Shoring: Many manufacturing firms are re-examining the structure of their global supply chains and their associated sourcing strategy in response to the uncertainties and risks they face in these turbulent times. This panel considered the current status of sourcing strategy from the perspective of major multi-national firms. The goal of the session was to bring a group of senior executives, from leading multi-national companies headquartered or operating in Japan, together to explore their current thinking and practices concerning global supply chain strategy and sourcing. The discussion facilitated an exchange of ideas that identified managerial challenges and concerns. It also ascertained current practices and intentions of participating companies. The panel focused on issues that included development of an understanding of the drivers of sourcing decisions as perceived by the participants in order to identify opportunities for improvement and barriers to implementation.

ortsEric Orts, Guardsmark Professor; Professor, Legal Studies and Business Ethics and Management, Director, Initiative for Global Environmental Leadership, The Wharton School

Risk, Challenges, and Opportunities: Lessons Learned from 3/11: This panel focused on the leadership lessons that can be drawn from making tough decisions and leading change during crises. The panelists each shared their leadership experiences, within government, business and the non-profit sectors, throughout the 3/11 earthquake and the Fukushima nuclear crisis. Common leadership themes and lessons were drawn from the difficult challenges each confronted in the face of one of the world’s most severe natural/environmental disasters in recent times. The discussion also highlighted Japan’s heightened awareness for sustainable energy supply and explore the role of government and business in leading the nation’s recent public movement towards reevaluating the need for nuclear energy and exploring alternative renewable energy sources after 3/11.

siggelkowNickolaj Siggelkow, David M. Knott Professor, Department Chair, Management Department; Co-Director, Mack Center for Technological Innovation, The Wharton School

 Who Dares to Have a Strategy – Even if its Painful?: There is much discussion about strategy – and lack of strategy – in the popular topic of comparing Korean and Japanese corporations. In addition to a matter of national pride, the question is an important one because the evidence shows that a thoughtfully designed and carefully implemented strategy can create a distinct competitive advantage. This panel was comprised of both Korean and Japanese experts, who dissected some of the drivers of, impediments to, consequences of and opportunities in corporate strategy. Questions that the panel addressed include: Is it painful to develop a strategy? Is it even more painful not to have a strategy? What are the barriers to develop a strategy? Can firms still succeed by just focusing on operational excellence? How do firms deal with tradeoffs? Does a strategy require top-down direction to be effective? Does bottom-up planning (at the division or departmental levels) hinder or enable the development of an integrated strategy?

MINOLTA DIGITAL CAMERAFranklin Allen, Nippon Life Professor of Finance and Economics, Co-Director, Financial Institutions Center, The Wharton School

Lessons Learned from the Financial Crisis: What lessons have been learned from the financial crisis? The question itself begs several more questions: which “financial crisis”? There have been many within the memories of people active today. Lessons learned by whom? Financial services professionals? The investing public? Regulators? Politicians? There is no question that this panel, populated with experienced professionals from three countries, had plenty to discuss about a topic in which virtually everybody has an interest and an opinion. And who better to moderate the discussion than Wharton Professor Franklin Allen, the Nippon Life Professor of Finance and Economics as well as a perennial teaching award winner for the past thirty-three years?