PaidContent.org
host Staci Kramer interviewed an FOBM panel made up of Peter Horan (CEO,
IAC Media & Advertising), Rob Norman (Global CEO, GroupM), Gloria Scoby
(Group Publisher, Crain Communications Inc.), and Tad Smith (CEO, Reed Business
Information).

Some highlights:

Is
the advertising pie growing or shrinking?

Peter: Historically the ad business and the
marketing business were a series of small pies. Direct market, media, etc. all had their own pies. Now the client is saying I have a marketing
budget and it’s all one big pie.

Gloria: The pie is growing in opportunity. There are more opportunities to reach out and
create relationships with companies and institutions that didn’t traditionally
market with us.

Tad: The pie is growing but print is declining. The pie is growing from a revenue perspective
but perhaps not in terms of profit.

Rob: “My pie is growing for sure. I was never in the
direct mail or directories businesses and those businesses have now migrated
online – now I am in those businesses.”

How
has advertising and communication planning changed?

According to Rob, until about three years ago, their
conversations were with brand managers and media mangers.

Now he’s got corporate affairs and PR people
seeking to manage reputation. He also
has sales people to serve since media is now “shelf space” and not just
advertising space.

Peter made some great points about how no one owns
the internet or the conversations taking place through it.  The real question is how you participate in a
conversation that you cannot possibly control?

How
has search impacted advertising?

Peter talked about how media is now intent driven.
We ask questions and get a list of answers – we Google it.

Tad felt that in the traditional model before
search, the value added to content was by those that could distribute it. Search has redefined that value and
redistributed it to those that can help you discover content.

My quick account here doesn’t do all of the panelists justice.  They all had some great insights into how the market for advertising has changed and even been redefined.  The takeaways:

• There is one integrated communication plan
• Elements of that plan can be managed and elements are beyond your control
• Search has redefined how people engage with companies and brands
• Consumer behavior has shifted toward "intent" – finding an answer
• Value in advertising has shifted from "distribution" to "discoverability"