A propos to the previous post, please check out this article from Strategy Magazine’s Media In Canada interview with Rishad Tobaccowala (the mention of his name makes me want to smoke) about the future of media. He’s the CEO of Denuo and CIO (chief innovation officer) of Publicis Media Group. So you know he knows his business. Here are a few choice quotes that relate directly to this Ford webisode gaga:
I would say that the way you allocate media should be and continues to be based on three sets of thinking – and I don’t think those three sets of thinking are any different than they were 20 years ago. Those are – how are people relating to and utilizing media; what media support matches or can expand an idea; and how impactful with driving results are each of the media or combination of media.
A lot of people are making [the mistake that] to use new media, they have to throw out the rules of how media gets done. What is true is they have to look beyond [the] media they currently utilize.
But here’s the kicker:
Increasingly more and more media will be measured on outcome and not just on input. While a lot of old media are measured by things such as reach and frequency and cost per thousand, [those metrics] increasingly will be replaced by things such as cost per acquisition, brand lift, and other return on outcome or return on objectives – and working to combine all of those.
I believe we are moving into a world [that is about] the art of combining things. So it’s combining old and new, combining inputs and outcomes, combining media and creative.