Pam Zucker: Finding the Soul of Our Industry at #ALM2023
At this year’s Annual Leadership meeting, The IAB’s Chief Strategy Officer stepped back to take the industry’s temperaturE. She Urges marketers to recognize the power of community in reaching today’s consumers.
By Pam Zucker
At any digital media conference, most people listen for sound bites: what’s new in technology, hot start-ups, which A-List talent is coming to hock their wares, what new content is all the rage—the litany of things that you can repurpose for your use when you return from the conference.
This year, at the IAB’s Annual Leadership Meeting (ALM) in Marco Island, FL, I was listening for something different. I was listening for the soul of our industry. What are we doing to make the planet a better place to live? What are we doing to help most Americans find hope in our never-ending arguments over the little things? This year, I tried to hear the promise and potential of what the digital advertising and marketing industry can do for the little guys. And this is what I heard.
I heard about the importance of community in everything we do as an industry.
Brands have always striven to make a connection with people. This connection will drive brand love and ensure that the right person understands the value exchange between the product and themselves. Ten years ago, Marc Pritchard, Chief Brand Officer of Procter & Gamble, referred to this as purpose-driven marketing. I would argue that has evolved today into people-driven marketing, where brands demonstrate their value as responsible corporate citizens.
We learned from Deborah Wahl, the current Global CMO of General Motors, that they have pledged to deliver 100% electric vehicles by 2035. And in the pursuit, they will have 20 EV car brands by the end of 2023. This surge toward EV vehicles is General Motors' opportunity to demonstrate to everyone that leadership doesn’t just talk, but takes action toward progress. Although this seems like a smart bet, there are no guarantees when it comes to revamping your business and spending billions of dollars in the process. When companies like GM are putting their money behind making the world a better place, we win as a global community.
“Purpose-driven marketing has evolved into people-driven marketing, where brands demonstrate their value as responsible corporate citizens.”
Then I heard a lot about brands' need to align with content that reflects their values. It is important to note that content that aligns with values has no predetermined script, production quality, or ad format. In today's world of big data, any content can be valuable and reflect people's value if it speaks to them honestly, authentically, and meaningfully.
The expression ‘beauty is in the eye of the beholder’ resonates with me. Similarly, the idea that there is one standard of "premium" is legacy thinking in my view. What is premium to me is very different than that of my parents, my children or even my friends. I proclaim that premium content is content that can have data appended to it and reach the right person when they are most receptive to the message. Premium content is content that connects a community. Speaking for the community of entertainment consumers, I’m telling advertisers: Stop putting up false barriers defined by what you believe premium is, and let people decide that for themselves.
“In today's world of big data, any content can be valuable and reflect people's value if it speaks to them honestly, authentically, and meaningfully.”
All companies should make their data interoperable so brands can optimize to the best content for them—based on their definitions—rather than some outdated model. New and established media players should all make their data interoperable so what’s truly valuable across all signals wins out.
As we move from the Here and Now to the Future, I was curious about how Metaverse businesses would talk about themselves. And what I found was that they all spoke about the Metaverse "giving power to the people." The companies now jumping into the Metaverse (retail, fashion, gaming) all have one intrinsic value—provide your consumers with a safe, communal experience, and they will reward you.
“Premium content is content that can have data appended to it and reach the right person when they are most receptive to the message. Premium content is content that connects a community.”
When you talk about the Metaverse, you must connect it to the creator economy. No single trend reflects the desire for a shared community experience more than the brands and people that drive the creator economy. The creator economy is the democratization of content, and there can be no better description of a community than when any member of that community can take the microphone and video camera and be its spokesperson, ally, or contributor.
Looking back at all of the great content shared and discussed at #ALM2023, I am hopeful for a new generation of leaders that looks inside-out first. When you look inside first, you recognize that you will find a community ready to stand with you if you speak your truth. When we look outside first, by trying to design a focused-group community or algorithms that combine people falsely, we talk past one another. When this happens, we don't do a very good job at honoring our shared commitment to each other.
Maybe it was such false pretenses and our tendency to look past each other that directed the attendees at #ALM2023 to give our industry a C- when it comes to DEI initiatives. I can’t say for sure that a low DEI score and lack of focus on community are connected, but I think there is a high correlation. We can and need to do better. And I believe that starting from a place of community will help us move forward in a powerful industry that creates good and makes this world a better place.
“No single trend reflects the desire for a shared community experience more than the brands and people that drive the creator economy. There can be no better description of a community than when any member can take the microphone and video camera and be its spokesperson, ally, or contributor."
February 13, 2023