WPP's Sir Martin certainly has taken a unique and interesting approach when it comes to contextualizing the new marketing landscape and putting his particular brand of stake in the ground.
While Publicis' approach is one of offense, it seems that WPP's is one of defense and even caution.
As quoted in MediaPost's Online Minute, Sorrell has said the following:
"What I worry about is our ability to capitalize on them" (concerns about so-called new media)
"No traditional business moves fast enough" (with respect to traditional organizations moving quick enough to be able to capitalize on the rate/pace/acceleration of change)
This is not the first time WPP's Commander in Chief has come out with this surrendering approach, and quite frankly if I was a WPP client, I'd be most concerned and troubled with this POV.
That said, I do think Sir Martin is being honest and I think in his humility is more truth than hubris. What Sorrell is alluding to, imho, is the reality of fleeting dollars from the more tradititional mediums in urgent search of a new home...the problem (to paraphrase Verizon's John Stratton) is that much of this money may never find a new home (or at least a comfortable bed to sleep in)
New Marketing represents an unprecedented opportunity for marketers wishing to not only reach...but connect and "effect" with their prospects, customers and loyalists. However - and I stress, however - it is not a zero sum game. $60bn of television will not seemlessly, proportionately and efficiently jump to the lilly pad of mobile, interactive, gaming and/or search. At least not in the traditional sense. There's too little traditional inventory on offer, relative to the money on the table...which itself, is way overvalued, inflated and taxed with unnecessary wastage.
Furthermore, I do think we need to look deep within our industry selves to ask the question...are consumers outgrowing advertising? Period. All the tea in China or consumer generated content is not going to stem the hemorrhaging of responsiveness, attention, engagement and ultimately ROI associated with trying to be all things to all people...and that applies just as much to the homepage of Yahoo! as it does to Prime Time network television.
So perhaps Sir Martin is correct in his reflection that there is way too much legacy and ingrained infrastructure in place to be able to migrate to a new revolution, which will not be led by Robin Hood, but in fact by an Army of Davids. And that does not bode well for him, and probably not for you either.
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