What has been the most significant change in consumer behavior in the last 10 years, and how has it impacted the way you think about marketing and communications?
Digital media – especially smartphones, social media, and streaming – have become more important in terms of the consumer’s usage and time spent than television. The advertisers followed the consumer with their ad dollars but this did not work out well in terms of reach, brand growth and return on advertising spend (ROAS); the ignorance of impression quality caused the largest brands to stall and left a huge opportunity for small new brands to take away market share.
In addition, the prominence of social media and its shallow values – combined with degradations in education over recent decade – has caused vast reductions in trust, competency, idealism, and attention span.
What do you read, listen to, or watch to keep track of developing issues and consumer dynamics?
Everything from industry publications to consumer publications to new scientific papers. I ask AI tools questions. I formulate my own perspectives. I test these in the blogs and books I write and the podcasts and videos I participate in.
Has there ever been an issue, trend or dynamic that you thought was going to be bigger than it turned out to be?
Addressable TV advertising is still decades behind where it ought to be.
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Can you give an example of a marketing or communications strategy from a different sector that inspired you at some point during your career?
The idea of swing voters led me to think of swing purchasers, which as a new type of target drove an average increase of +28% incremental advertising sales effect at TRA (sold to TiVo in 2012). 77 major brands made use of heavy swing purchasers during my time there.
Looking into the future, which fast-moving issues and and consumer dynamics will marketing and communications leaders need to be aware of?
The human race will begin to use metacognition in order to pull out of its present nose dive. That will affect media usage patterns and the values that need to be included in ads.
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What has been the defining moment of your career, and why?
I think winning the technology Emmy was the defining moment. That was in 2022, for work I did in the 90s.
What one piece of advice would you share to those starting their career in marketing and communications?
Build consensus using the highest quality data you can find.
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Where to find Bill:
- LinkedIn: https://www.linkedin.com/in/bill-harvey-9581801
- Website: https://billharveyconsulting.com