TLDR:
- Allan Rich: Allan Rich is a down-to-earth and passionate individual who gave a talk on his experience in the advertising/media industry. He shared both valuable insights and lighthearted moments with the students.
- Staying Informed: Allan stays updated on the advertising industry by reading various publications and investing in research and data companies. He emphasizes the importance of data in shaping decisions for clients.
- Industry Transformation: The advertising industry has undergone significant changes, transitioning from full-service agencies with a fixed commission to a more fragmented landscape. This shift has created a demand for diverse skill sets and a deeper understanding of consumer behavior.
- Complex Purchase Funnel: The purchase process has become more complex, requiring candidates to comprehend how different media platforms and elements contribute to a cohesive campaign. Advertising in the digital landscape is compared to a symphony where every component plays a role.
- Responsibility and Professionalism: Allan emphasizes the importance of recognizing that advertising involves handling other people's money and careers. He cautions against arrogance and highlights the cultural shift that has made advertising a recognized profession with ample opportunities.
On the 25th of February Allan Rich history found here came in for the second time in my three years at Bucks to give a talk on his time within the adverting/media industry and he had some good points that needs sharing and also some small. But before that I would like to mention how Allan Rich as a person, he is a down to earth nice gentleman and very passionate chap. This was asked by a student how do you keep this motivated? With a witty reply ‘Drugs’ But this light heartlessness really captivates the room of students that are the same age as his grandchildren. But he’s a ad guy it’s all about selling.
He still reads a range of advertising publications to stay in loop to make sure he knows the ins and outs of whats going on. Chris a follow student and I management to have a sit down with Allan before the talk to discus our dissertation topics and he was in the know for sure. Asking questions what is the future of media agencies role with data for a client? His response ‘data is crucial, thats why I keep buying research and data companies’ This is quiet interesting because of research as apart of the IPA Media Future group that media agencies are changing what data sets effect their decisions.
But now with a little look back at the days when full service agency had 15% commission, ‘we have come a long way in to such a fragmented industry’ this is because of the big players in the game. But with this fragmentation there has been a demand for a wide range of skill sets and understanding of how the industry works but a deeper understanding how the consumer behave. Allan mentions that its a young industry to be in, where most of the work force are under/around 35. This makes me wonder where I will be at that age.
Another change is the more complex process of the purchase funnel. This is what recruitment departments are looking for in candidates ‘You need to understand how all of these medium/platforms elements to a campaign work and how they all point in the same direction’ Allen mentions its like a musical symphony where each instrument needs to play its part to make sure it all flows and works. This is how advertising works within this digital landscape. But selling a product will always have the same concept, of the consumer purchasing to facilitate a need or want.
‘Don’t forget its not your money’ This seems obvious but it is an important point, that it is money and people jobs that can be effected as a result of the actions taken. Allan said that it could be a place of arrogance
Another cultural change mentioned that when he started The Media Business it wasn’t seen as a recognised profession like being a doctor or an accountant but with the specialist universities courses like on offer here you have the upper hand. The range of opportunities that are within the industry are greater because of Digital, but also a influx of people applying. The last point is ‘People hire people’ that is very much true, so when applying for jobs I will have to think with my media hat on, placing role and relevance on the messages across platforms. Lets see how it goes.
