July 2009 – The Media Report

Flu Attacks Media Business: Now is the Time to Act

By Jack Myers

Scientists recently discovered a process in the body’s immune system called “anergy.” It has commonly been believed that, when an invading virus attacks the body, white blood cells race to the point of invasion, surrounding and destroying the invading virus. It is now known that although the white blood cells charge to the point of incursion, they do not immediately attack. Instead, they wait passively on the sidelines in the “anergic state,” waiting for a second signal from the brain to confirm the virus and authorize the white cells to attack.

The media business is settled in the anergic state. We know the industry is under siege by economic and systemic attacks. Digital dimes feeding the system don’t equal the analog dollars being drained. There’s a virus attacking the media business. But efforts to respond have been passive at best. The industry is waiting for a signal to take action. But what action?

WHAT’S THE REMEDY?
Investments in engagement research, interactive media, behavioral targeting, addressability and the focus on improved measures of advertising effectiveness are analogous to assigning the white blood cells the job of the brain. They are not a cure; only placebos that make us believe we are treating the virus but, in fact, that just further drain our resources and delay the industry’s return to health. The media business is in danger of becoming overly reliant on a declining ad business, on meaningless Nielsen information and on proliferating technology.

Too many media and advertising executives are losing their ability to think intelligently and logically about the future. They are waiting passively on the sidelines, accepting business as usual even as a virus eats away at the health of their businesses. For the media industry to renew its vitality and dominant role in the marketing process, managers must send a signal throughout their organizations that new solutions are required–solutions that will ultimately replace those cells that are infected and no longer productive. Executives must redirect resources to growth businesses and refocus on developing new resources that tap into the healthy marketing silos–such as promotion, trade communications, events, database management and cause-related initiatives.

Another extraordinary discovery in the medical community is that a gene, called p53, is a cell’s primary defensive weapon against the malignant growth of cancerous cells that can move from one organ to another until the health of the organism is destroyed.

The media industry requires its own version of the p53 gene–an agent who has a view of the total media business and who can recognize and stop any destructive elements that are negatively affecting that business and the health of a media industry. Marketing budgets are declining and the core value of traditional media as a viable marketing tool continues to erode. We need a p53 agent to assess the damage, define the comparative value of these options and defend against the dangers.

Don’t miss Jack Myers’ session called “20-20 Foresight: Ready Your Business for Marketing’s Future” on Monday, September 14, from 10:00 a.m. – 10: 50 a.m. at ERA’s D2C Convention in Las Vegas.

Jack Myers consults with media companies, agencies and marketers to assess growth opportunities, develop new business models and launch strategic business initiatives. He can be reached at jm@jackmyers.com.