How to Lead with Practicality
I- Melody Harm from Yahoo Finance and I'm so excited to be speaking with Gary Banner Truck. Today. Thanks for joining a scary. Thank you melody. The theme of this year's Am SS road to recovery. Tell us what you're seeing veer media. Your focus has always been on innovative experiential marketing of course that has sort of been thrown out the window to a certain extent Tell us how you've been able to give it. During time, it's really funny. The way you've been structured that I totally get the positioning of us being innovative or disruptive or things that nature. But in actual business meetings with big and small brands I've always clarified kind of my persona or like the vibe around us. I've always said look people think that were innovating. I think more practical I. think that most people talk about today in a very confused way most companies really put yesterday on a pedestal what used to work and they think of today as the future, but it's actually today. So ironically is thought we were practical versus disruptive or innovative. So to your point in the way you set that up. We were never doing vr a are like the things I talk about what consumers are actually doing now like I think we can all agree that consumers give their attention to this device. and. So when we're doing media and creative in these channels and Ott facebook instagram, Youtube, Tiktok, whatever they may be linked in for B. Two B. Companies. We think it's practical. We think it's underpriced no different than that to Yahoo, and early there's a yahoo that ad product Yahoo Google ads like Yahoo ads that was driver for my family's business in ninety, nine, two, thousand, two, thousand, one, two, thousand people thought Yahoo ads was so futuristic but if you were doing them, you knew they were practical you were doing business. So what's actually happened for us is people have thrown out yesterday. And Have Opened Their Eyes Today Aka the biggest brands in the world that we work with. A starting to understand paying six hundred thousand dollars for production to run on television. Might not be the best use of their money and have leaned into e COM. And content and media being together in digital channels to drive business results, and this has been the greatest era of CMO's and real marketing individuals at the highest levels becoming more practical and practitioners. So we're seeing a lot of growth to be frank. And we're seeing people finally have the You know I was reading about this on Yahoo or Wall Street Journal or Ad Age, but I never took it seriously because I put yesterday on a pedestal. And now I actually see what you meant I can't believe facebook ads and creative can drive my business so much. So we're seeing a big seachange in Madison Avenue. And even start a planned to a degree and and obviously we're excited about it from our perspective. Ran We see this wide divergence when we look at the industry, right that are actually sending those ad dollars even if they're rejecting their budgets of course, retail financial services are two of the top senders. When you look at even the growth that's happening twenty twenty. How are you seeing that manifest in your business? Are there any particular bright spots that you can call out or perhaps laggards in the face? Overall? The the bright spots for me are. I can't believe how many whether it's craft or proctor pepsico the conversations I'm having where the actual sales data. is becoming the KPI, not the internal A. Or. Nielsen Brand Studies. So. You, know. I. Actually see a lot of if we're very heavy CPG we're heavy financial services as chases client like. We're seeing we weren't. We weren't in airlines or hotels like we got lucky is the only word I can use our client mix was. Berry. Benefited by Govan to be honest in the short term. In that timeframe because they're worried about supply chain to be honest, right our clients are much more worried about making more of their stuff than anything else. I think it's just affirmation of my prior statement which is. The bright spots or the advancements are as following. We are seeing bigger allocation to marketing because we finally got clients to measure on how well they're doing on Amazon dot com or proving to them that we're moving product at Kroger or Walmart or Home Depot. So what's happening investing more because the debate went out the window because they weren't lazy with their money because nobody can do TV productions. So you're seeing the real world of haves and have nots. The industries that were most affected are obviously in trouble more so than others and the industries that most benefited from it food necessities. Were unable to spend their marketing money. The way they're they're accustomed to. Meanwhile what was happening was the way they were accustomed to big productions on TV and then doing matching luggage to that TV spot on digital was for the last decade wrong or at least wildly overpriced.