Stewart Pratt,
Senior Analytics Consultant
Razorfish
Razorfish
Linkedin:
What site(s) do you have to visit every day for Marketing news?
http://www.adweek.com/aw/index.jsp
http://www.mediaweek.com/mw/index.jsp
http://adage.com/
What site(s) do you go to at least once a day for fun and inspiration?
http://www.pandora.com/ and http://www.spinner.com/ standards for me, but I also like to check out http://www.urbandaddy.com/ and http://www.thrillist.com/homepage
Greatest skill a good Marketing professional requires?
The ability to approach problems with flexibility and creativity. Every innovative execution faces its share of new challenges and obstacles. With no standard playbook to follow, it is essential to take an open approach and to have persistence as you work with others towards a solution.
What’s the recent “it” marketing phrase/trend of the moment that you hear almost every day and what does it mean for the industry and marketplace?
Social Influence Marketing is certainly “the” marketing trend of the past year. Clients that are already involved in social media are now looking for more robust ways to assess the return on their efforts, while clients that have been hesitant to engage consumers through social media are now moving quickly establish a comprehensive social strategy for their brand. As an industry, the implications are significant. Until now, social media was viewed as a guerilla technique for extending a brand’s influence, investment was modest, and client expectations were simple. As social media increases in importance and budgets expand, so also do client expectations. Clients are beginning to demand more accountability and rightly so. Agencies, publishers, and networks must respond by improving measurement and reporting, closing the between social media and other digital channels.
There have been fads in the Marketing world. In your opinion, what are recent developments that are here to stay?
Social is here to stay. Mobile is here to stay. However, for my money delivery of contextual, dynamic display advertising via ad exchanges in a model reminiscent of search is a new trend that will prove transformational.
What is essential NOT to do when it comes to your area of Marketing speciality?
Lie. Your credibility is your currency as an market researcher. There can be significant internal and external pressure to tell a positive story. However, not all campaigns are successful and not all creative works. It is critical to provide an unbiased perspective, even if that message is not well received.
What's an imminent hurdle in the Marketing world that you think will cause significant changes to the way we market to consumers or businesses?
Continued concerns about privacy represent the most significant challenge to digital marketing. As personal information is redefined tracking methods previously considered non-PII are challenged, it is uncertain whether significant changes in how we deliver and measure digital media will be required. If they are, the challenge will be in finding ways to deliver relevant messages and maintain or improve our efficiency as advertising budgets continue to be strained.
Can Marketing ideas travel across continents and languages? Does globalization work or is localization more effective?
While marketing ideas are theoretically universal, the execution of these ideas is necessarily localized. Advertising gains in effectiveness when it is contextually relevant. Localization is no less relevant than other demographic or behavioral criteria we apply. The question really is whether gains in effectiveness from localization out weight gains in efficiency from globalization. As our capability to deliver dynamic advertising and experiences improves, the efficiencies of globalization become much less important.
Best piece of advice you have received professionally or personally?
Focus first on your development as a professional, not on title or salary. As a corollary: “Achievement nets you title, performance nets you salary.”
Growing up, what was the first thing you can remember wanting to be?
President of the United States. I think we can all breath a sigh of relief that this didn’t happen.
Is Marketing more of an art or more of a science?
Marketing is more art than science; but then science is often more art than science too. “Science” often implies a controlled environment in which conditions and results can be replicated. The marketing environment is ever changing and market conditions are never fully replicable. Delivering innovative solutions for clients always requires a high degree creativity and adaptability to respond to changes in the market. Measuring the effectiveness of these efforts is equal parts science and art, applying universal principles to the specific constraints of our marketing program.
What do you think are some of the most promising models for monetization of digital content?
I think one of the most promising or interesting monetization models is the blurring of the line between retailer and advertiser. As advertisers work to extract increased value from their existing site traffic, they are beginning to apply the principles of “in store” economics to their online stores. Offering manufactures the opportunity to promote their products by purchasing advertising inventory on the retailer’s site is an innovative, promising monetization model which is gaining traction.
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