KLC CEO Kevin Lonnie attended the Media Insights & Engagement Conference last week in Miami, FL.
Below are his notes from Day 3 of the conference, detailing the points that stood out to him most.
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I saw a smart, diverse group of researchers who were looking to understand a landscape that was literally changing daily. The old TV/Media ad model of counting eye balls and charging an appropriate fee is infinitely more difficult, particularly for anything other than live sporting events.
I also saw a rather free ranging flow of information and a willingness to accept we don’t have all the answers, or even most of them. It was a very good conference, I am glad I went and had a chance to immerse myself in the challenges the research media expert is currently facing.
Jared Weiner – Weiner, Edrich, Brown
>Knowing so much about what you know, that you are the last to see the future of your area of expertise differently.
>Find a reverse mentor, someone much younger than you.
>Economic Disruption – for the 1st time in US History, folks who are being thrown out of the economy aren’t being invited back.
The emerging Metaspace Economy – 10 growth areas of the future
– Time & Sleep (Time Space)
– Moving from linear to simultaneous views of time (multitasking)
– People think they’re better at multitasking than they really are
– Email is the great disruptor of focus
– Attention is the new monetary unit
– Communication – bits not minutes is the new expectation
– Snapchat – the temporary nature is appealing
– Collaborative consumption (Zip Car) Let’s all share.
– Demographics – mortality horizon (when the first 10% of your generation expires to when the last 10% are still alive). For boomers, this is a 50 year span, so it’s ridiculous to lump this group together.
>Predictive Markets – trained economists versus average Joe’s – the economists are no better at predicting the future. Diversity of thoughts may exceed the combined wisdom of the so called, conventional experts.
James McQuivery – Forrester
>Digital disruption happens to media first.
>Coach Handbags – has recruited a fan staff, just women who know and love coach. They use them to assist online shoppers, acting as a virtual personal shopping assistant.-
>Target (the retail chain) Cartwheel example – 1 million users, combing social media with the retail shopping experience
>The age of the customer also require that you create an unprecedented relationship with them.
>Disruption economics historically are expensive & time consuming. But it’s become cheaper (think of kick starter)
Lori Schwartz – StoryTech
Gamification / the internet of things
>Marrying story telling with technology. A good story draws people in. The need for rapid changes: avoid the linear path to doom. Take actions in the present that will affect our future.
>CES: 20,000 product launches
1. The future of cloud base entertainment
2. Changing Channels: content disruption, bundling
3. Curved Screens
4. The connected car
5. Islands in the stream
6. The Roar of the Crowd
7. The New Ecosystem
Caryn Klein – Time Inc.
>20% of your time is spent with a mobile device
>Only 4% of ad dollars are spent on mobile
>Key differences between men and women: Women-unbreakable bond
>The relationship women have with their mobile devices-60% call it the must have device, it’s truly a love affair
>The ideal relationship because the smart phone asks for nothing in return, “just charge me.”
>Downtime is now smart phone time (catch up on TV, Facebook, e-mails, games, texting, shopping, etc.)
>Tablets play a role too – mostly in the morning and at late, not as mobile as a smart phone.