Fast Forward

A Winner Every Time-Almost

The business of awards in the advertising field is just that, a business. And, it's a growing business.
In fact, Linda Day, executive director of Recognition Media, says her organization received about 9,000 entries. Recognition Media runs awards like the Webbys (online work), Tellys (for local broadcast ads) and the Communicator Awards.

But talk about shooting fish in a barrel - Ms. Day says there are about 3,000 winners of either the top award or the "award of distinction".  So, your chances are about one in three to win an award.

What's wrong with this picture?

Ms. Day says Recognition Media goes along with a trend to charge agencies who win the awards for those little statuettes.  This way, she ways, they can keep the entry fee lower.

Digital ad agency Deep Focus recently won 10 Communicator Awards and CEO Ian Schafer was very happy about the company's creative output. Then, he received a bill that the trophies would cost him $1,590. 

He called it "a little egregious." We call it insane.

The next time your agency boasts that it is "award-winning", you might want to respond, "Yeah, sure, big deal, isn't everyone?"

RIP: The Golden Age of Television

Take a worldwide recession and toss in the need for messages to be more targeted and, hence, more cost-effective and you have the two ailments that are slowly but surely killing television advertising as we currently know it.

This is not bad. It merely represents a challenge for advertisers and also for television.  The new electronic star today is digital and viral. Once the camp medium of a few, viral  is nearing mainstream.

In fact, it might be outgrowing its name. Perhaps another term would simply be 'earned media' as opposed to purchased, traditional advertising time.

Additionally, the nature of the clips are changing. Once they traded in "shock and awe". Now they are more message driven, more targeted and, low and behold, more creative.

Listen to Laurence Boschetto, president-CEO of Draft FCNB: "Clients are saying they want accountability for every dollar they spend, and they want cause and effect."  He says the ad industry can never revert back to pre-recession days.

Marylee Sachs, director of worldwide marketing communications for Hill & Knowlton adds: Marketing officers "will continue to look for new avenues and means with which to connect with their core consumers most cost effectively."

This means, she says, "Digital, earned media opportunities and niche-targeted."

What does this mean for television advertising? It doesn't look good.

You, the Brand

Some of the poorest marketers of their businesses are professional service companies, such as law, accounting and, strangely enough, advertising and PR firms.

They spend a lot o time and effort on news releases without clearly recognized news and on networking opportunities where everyone is trying to sell everyone else. They send out news releases that appear as stale and generic. 

In many cases - not wishing to offend any of the partners - they shrink from making decisions that market individuals, whether it's the firm's owner, a managing director or simply just an extraordinary performer.
However, just as customers in a restaurant want to known and be recognized by the famous chef or the owner, the same is true in the professional service business.

In other words, this is the day of the personal brand. This is one of the most important differentiators in the professional services business. It is important that you are known both within your industry, and without.
Good personal brands give people an immediate sense of knowing you and the experience your business offers.