Kicking the ‘kickbacks’ out of the marketing industry will not be easy
People want an end to the old ways of rebates, kickbacks and discounts – but are they really ready for the new ways of partnership, mutual benefit, loyalty and trust, asks Tobias Wilson?
So, it looks like the FBI could be the one that finally breaks the media industry out of its old ways, eh?
Dwindling profits, sliding share prices (as per Greg Paull’s article for Mumbrella) and increasingly shaky client rosters weren’t enough of a sign; in the end, it was the fear of federal investigation and prosecution that got people to stand up and take notice (and hopefully act).
So, how did we get here? In short, I think both the supply and the demand side are to blame. Neither knew/know the true value of what they’re buying or selling. They’re just doing it because that’s what they’ve always done.
So, let’s start with value. As a media professional, like any professional, you get paid to do what you do and be good at it. That’s what sets you apart from amateurs. Although, going through the motions and spending billions of dollars of your client’s money without any regard for what that investment is doing nor any care about its business impact is reckless and borders on misconduct. It’s also downright amateur.
