Fuel-Lines, a blog focused on ad agency news, asks the question “Is Your Ad Agency Prepared for the Magnitude of Digital Growth?“ suggesting that we are living in times of exponential growth.
How fast is fast?
Drawing upon the YouTube video “Did You Know? 3.0” a few factoids illustrate the point that we are living in the fast lane:
- The number of text messages sent and received each day exceeds the population of the planet
- The amount of technical information is doubling every two years. By 2010, it’s predicted to double every 72 hours
- It took Radio 38 years to reach a market audience of 50 million. TV took 13 years. But the Internet took just 4 years
Survival tip: just because you can, doesn’t mean you should
Undifferentiated, exponential growth in biology is called cancer. In client/agency relations it’s a type of malignancy that mistakes growth for progress, action for results. I’d suggest clients consider three things:
- You can’t keep up with it all. Don’t try. Rather, surround yourself with good people, agencies and teams who can interpret the deluge for you.
- Hold on to your “hype-meter.” Just because you can do something doesn’t mean you should. Be particularly skeptical of those who used fear-based selling tactics including phrases like “don’t get left behind.”
- Focus on your core business and consider the digital deluge as a new means to a traditional end: selling product and services to your customers. Remember the Alphonse Karr adage “the more things change the more they remain the same.”
Remember: the 80/20 Rule Still Works
In any given system, about 80% of the output (results) comes from 20% of the input (what you do). The way to thrive in exponential times is to selectively ignore the 80% that is distracting and focus your attention on the 20% that is significant.
A good agency coupled with great vendor selection can help you shape a digital strategy that delivers the ROI you deserve.
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