The advertising industry is experiencing a tremendous transition. In the past, the advertisers had control over consumers, but that is not the case anymore. Now, consumers have the control, which means they can also reject ads.
In addition to the changes, the advertising industry has been hit with a hard blow from the economic downturn. However, the advertising industry is far from being over as Steve Hayden, the Vice-Chairman and Chief Creative Officer of Ogilvy Worldwide, so eloquently explains in the above video. His words should not be taken lightly since he co-created the 1984 Apple commercial that launched the Macintosh computer, led the team that produced IBM‘s award-winning e-business campaign, and his clientele at Ogilvy has included Kodak, Motorola, Dove, American Express, and more.
With advertising, on one side lies the “fear” factor and on the other side is the “love” factor. Given the changes in the industry and the impact of the economy, it is no surprise that there is a sense of “fear” among advertisers. Steve developed a tool called Hayden’s Mandala that describes the cycle a business or even a person experiences when facing changes. The stages of the cycle include:
1. Fear and Arousal
3. Intelligent Fear
5. Intelligent Arrogance
7. Arrogant Stupidity
To counteract the current fears among advertisers, Steve introduces 3 new innovations that pushes the fears aside and brings back the spirit of excitement and love to advertising. They are: Intelevision, Bunkspeed, and Ogilvy PR’s Digital Influence program. These innovations prove that the advertising industry is still very much alive in spite of the obstacles the industry has encountered. As Steve says, many valuable inventions and developments resulted from the Great Depression and as evidenced by his 3 examples, the same could happen today.