Futurist says traditional advertising model is threatened by changing marketplace pressures

Watts Wacker, one of our country’s foremost futurists, told a group of 185 PRSA Counselors Academy members yesterday that digital technology and the disintermediation of traditional news, information, and media channels augers well for public relations and ill for traditional advertising.

Wacker says today’s society is all about relationships and rapport. People want to meet and speak Watts_wacker_scan_1_1_medium_1 with people like themselves. People who share their views, their likes and their loves. As a result, wikis, blogs and podcasts are gaining in popularity while the old 30-second commercial that talks "at" consumers is becoming an endangered species.

Wacker challenged the PR executives attending the Counselors Spring conference to figure out how to communicate with these new, technology-enabled mass markets and stay away from traditional marketing channels.

As the world becomes increasingly uncertain, the consumer turns increasingly to those who he or she trusts most, said Wacker. So, PR pros need to figure out who these influencers are and engage them in dialogue with, and about, our clients and their goods and services. PR is beautifully positioned to connect these disparate, technology-enabled groups and show our clients how to build relationships with them. Wacker said he has "relationships" with three manufacturers and belongs to online affinity groups of individuals who share his product passions with those manufacturers. They exchange views and recommendations on everything from household appliances to the best restaurants to frequent when traveling to new cities. Becoming part of that dialogue and building credibility within those circles is the challenge facing marketers today and tomorrow.

And, advertising’s future in today’s brave new world? Wacker predicts a 24-hour, all-advertising cable network which will run nothing but ads. We’ll watch the ads and then use our cell phones to not only comparison shop, but purchase and arrange for delivery. But, says Wacker, the final purchase will once again be based on informed information from our virtual (and physical) relationship network.

Wacker is a fascinating guy. And, I can’t wait to see how his thinking plays out.

3 thoughts on “Futurist says traditional advertising model is threatened by changing marketplace pressures

  1. There are plenty of all ad cable channels now and shopping over the internet is immeasurably easier than over the phone. I think it is shortsighted of him to think that in the future people will want to spend more time watching TV hoping to get a glimpse of something they want to purchase rather than going directly to the internet where you can instantly find exactly what you want AND compare. Not very forward thinking in my book.

  2. Watts says the savvy marketers will figure out which other “manufacturers” have built a relationship with their customers and, based upon those relationships, create hyperlinked connections with them to exponentially expand target market reach and credibility. So, for example, if I represent Coach and find out that 75 percent of my male customers also have relationships with Allen-Edmonds shoes, Armani jackets and Sector watches, I’m going to find ways to connect with the message boards those consumers frequent. I’m also going to explore co-branded initiatives with those manufacturers.

  3. Totally agree that tradional methods are tanking. Interested to know what he (you) mean by having “relationships” with manufacturers.