The race is on for agencies to build their digital assets. Get it right and PR firms will grow faster than they have in decades. Get it wrong and they’ll have a struggle on their hands. So as agency heads look at their talent base and their potential new hires, they have a tough question to answer. Do they hire experienced marketing professionals who have some digital skills or the typically younger, more digitally literate who have only limited experience? Sadly for the more experienced group, the answer appears to be that agencies are trending towards hiring younger digerati, rather than grey hairs. This in turn is reshaping agency structures, product offerings, and pricing. To twist an old saying, we are who we hire. With agencies moving from a classic pyramid model towards something that looks more like a coat hanger, the opportunities for today’s experienced professionals are becoming fewer by the day. Is this fair? Probably not but this drive to hire younger, cheaper talent is in part the result of another force, not just digital. Client procurement departments have acted like sand paper on PR budgets for years and have increasingly made it more desirable to hire doers over strategists.
Most agencies are racing to build a ‘new’agency on top of their existing one. While they do need some experience to prevent the thing from collapsing in heap, what they need most is staff that can get on and ‘do’ at a price point that makes the investments the agencies are making viable. This effectively forces agencies to hire lower cost staff. These of course tend to be kids from college who have no real experience but can tell you anything you want to know about Facebook and Twitter. For this generation, SEO is a form of grammer and html was a choice alongside Spanish and French at school. Given a brand is now defined by the size and strength of its social network, it’s hardly surprising that many agencies will value these skills over someone who has known the editors at a business publication for a decade.
So is it all doom and gloom for us oldies? Far from it. We can start and build these new agencies, they do after all need some adult supervision. We can also explore the boundaries of owned, earned and paid media. These are the places where real value lies and where experience can really come to the fore. But we cannot assume that because we have decades of experience that our futures are secure. We have to bring something of value to the transition to digital. Identifying what this is is crucial and could yet save the careers of many. We are in an era of marketing where the value of experience is trending downward. In years to come that will of course change as digital becomes the norm but for now the digital natives are set to become the new leaders. That may not be what people want to hear but our industry is, like many, Darwinian. In our case the fittest are the digerati.
Across America it’s back to school time. Families are getting used to packing lunches, the joys of nightly homework and arranging after school activities. It’s also a time when work calendars fill up as people return from vacations, supposedly refreshed. Of course in America they don’t take the long vacations that are common in countries such as France and Sweden. Instead they stretch to ten days, or two weeks if they are feeling particularly brave. Either way, Americans are now ready to do battle with the economy while their kids do battle with mathematics and English. In the world of communications and marketing in general, the summer is a quiet period where only a real crisis will garner much attention. The Fall on the other hand is a period where news floods out as businesses launch products and make acquisitions. The flood of news does of course make it harder to get people’s attention. You are, after all, competing with others for your fifteen seconds of fame (the Internet equivalent of Warhol’s prediction). So does this make sense? I appreciate it is difficult to get things done over the summer when so many people are away and the argument goes that: what’s the point of announcing things when nobody is around to read about it? I’d argue that in the age of social and online media, the summer is no longer a dead time for getting attention. It is merely a dead time for people seeking it. While I was away I checked on the news, industry and otherwise, everyday on my iPhone and I’m not that unusual. With today’s technology people hear about the news whether they are at work on a south pacific island. So it makes me wonder whether companies should rethink summer media madness and use the fact that attention is easier to get to their advantage. Perhaps, therefore, it’s time for us communications folk to go back to school…
The sovereign debt crisis that started with Greek governments spending habits and has caused financial markets to take a beating in recent weeks has received remarkably little press considering it could result in the world being pushed in to a double dip recession. Indeed a quick look at the major headlines of the NYT and WSJ in recent weeks will show you that they have covered the story for sure but that other items such as the oil spill in the Gulf of Mexico have garnered greater attention. Similarly you havn’t seen the debt crisis trend on Twitter. I can only speculate as to why and my speculation is that the topic is both boring and complex. Two factors that ultimately make it less likely to get picked up and talked about. But just because something is dull and complex shouldn’t prevent it from being talked about if it’s important. Surely?
I grew up in an era where the BBC covered stories because of their importance, not because they were easy to understand and interesting. I learned to be interested in the Middle East issues simply because the BBC kept on covering them. I worry that in an era of self publishing and an era where traditional media will do anything to get a reader/viewer, the complex and potentially less interesting stories will get short shrift. This would be a terrible outcome. Sometimes we need to be forced to consume news that we find tough to get through. That may mean devoting less time to stupid human tricks on YouTube and more time to the complex economic issues going on in Europe right now. I say this, not because a focus on Europe would necessarily improve the Greek debt crisis but because today’s Greek debt crisis is tomorrow’s equally dull story that has a more immediate impact, much closer to home.