We’re in the process of pondering a very important question
in the industry today: what is the future of agencies? Agencies have played
such a crucial role in helping companies market their products and services for
more than a century. Names like McCann Erickson, Young & Rubicam, J. Walter
Thompson, Ogilvy & Mather, and Saatchi & Saatchi (among others) are practically
household names. There’s even a massively popular and critically acclaimed
television show capturing life in the golden age of legendary agencies on
We’re in the process of pondering a very important question in the industry today: what is the future of agencies? Agencies have played such a crucial role in helping companies market their products and services for more than a century. Names like McCann Erickson, Young & Rubicam, J. Walter Thompson, Ogilvy, and Saatchi & Saatchi (among others) are practically household names. There’s even a massively popular and critically acclaimed television show capturing life in the golden age of legendary agencies on Madison Avenue.
I'm hosting a panel on Millennials and TV at the Future of Television Conference later this week. I'm sure we'll talk about social media. And you might be surprised to see that one segment of the Millennial generation - today's teens - are perhaps more brand-loyal than you think. They just like to try new things more than adults do, and they depend on friends' advice more.
From a Forrester report (behind the paywall) on teen coolhunting:
In the past year, we've seen a palpable shift from newspaper and magazine publishers with regard to paid content--they still don't know how to make paid content work, but they know they want to try. A recent report from the American Press Institute underscores this trend: The API reports that 60% of newspaper executives say they're considering paid content options, even though currently 90% don't charge for any content online.
Consumers, though, have different ideas. In a new Forrester report, we find that most consumers (80%) say they wouldn't bother to access newspaper and magazine content online if it were no longer free (no surprise), and the rest are split about how they'd like to pay for content:
It's especially notable that, while publishers talk about micropayments so much you could design a drinking game around the word, only 3% of consumers say they'd prefer this method of payment for newspaper and magazine content.
At the end of October I hosted a Consumer Market Research Track Session at the Forrester Consumer Forum in Chicago, and one of the speakers was Gian Fulgoni, CEO from Comscore.
For years, a debate has raged in the online space about the merits of panel-centric versus site-centric measurement, and with companies now trying to get a grip on the behavior of consumers across multiple channels, measurement complexity will only increase. Gian showed a slide that nicely summarizes the debate between site measurement (Web analytics) and audience measurement (panel based):
I'm pleased to announce the launch of a new web page on Forrester.com that is devoted to a key theme for the Consumer Product Strategy role: the Convenience Quotient (CQ). Regular readers of this blog and of Forrester's CPS research will be familiar with CQ. Now there is a single web resource for everything related to CQ: the methodology, why it's important, how it can be useful, what the standard deliverables are for a CQ project, and some of the possible add-ons to a CQ project. It's also the most convenient (!) place to access all of our CQ reports, which provide a transparent look at the development of CQ scorecards for various services, products, channels and markets.
For the uninitiated, I invite you to click on the link above and explore the CQ consulting offering and our published reports.
Forrester’s Marketing Forum EMEA is fast approaching — November 17-18, 2009, in London. I'll be presenting at this event on the topic of 'How Media Will Never be the Same Again'. The presentation will kick of the Consumer Product Strategy afternoon session focused on series of research we're building that deals with the interplay of media, technology and brands. We call it the Media Meltdown. My colleagues Nick Thomas will also be presenting on how the Media Meltdown makes media companies of us all and finally another colleague Ian Fogg will be presenting on how technology companies both shaped and are react to the Media Meltdown. Before Nick and Ian I'm thrilled to announce that Nokia's Tim Grinsditch will be giving an industry key note to the session which will focus on Nokia's music strategy. It is a great agenda and I look forward to seeing some of you there
Elsewhere in the event, other leading Forrester analysts will present on leapfrogging competitors out of the recession, enriching online engagement with customers, and which product and service innovations to be ready for. This event provides a platform where marketing and Customer Experience professionals can share innovative best practices, network with peers, benefit from keynotes and track sessions, and pose direct questions to top Forrester analysts during One-On-One Meetings.
Seventy-seven percent of online consumers have Internet, TV, and phone services. Data from our North American Technographics Mobile And Telecom Online Survey, Q3 2009 shows that of this group, about a third receive all three services within a bundle. Consumers who have a triple-play contract have a higher household income and are more likely to have children.
About a year ago, I took over the management of what has become Forrester's Customer Intelligence (CI) team. In doing so, I've had the pleasure of working with Senior Analyst John Lovett, who joined the team after our acquisition of Jupiter Research last year. Regretfully, I must tell you that John has decided that it's time for a change of pace.