I consult on media issues mostly for faith-based and non-profits clients, but it’s always good to hear advice from the other side of the fence. Rishad Tobaccowala is a media consultant for Starcom MediaVest Group and was featured in Business Week magazine last fall. His comments are fascinating, and churches, ministries, and non-profits could learn a lot from the advice he gives to his national media clients like BMW, GM, Procter and Gamble, Best Buy, Sara Lee, Kellogg, and Miller Brewing, just to name a few. Here are some of Rishad’s thoughts on media:
1) He’s urging his agency clients to abandon consumer demographics in favor of tracking their passions, whether they be ballet or hunting. In the future, your audience’s age will be less important than their interests.
2) He tells his clients that because media is changing, they should get used to a permanent state of discomfort. The forces leading the tech world are gaining more and more momentum and leading to more unexpected developments.
3) When it comes to media, the “spine” of the business has collapsed, and what we’re looking at now are the organs, blood, and connective tissue in a pile of goo. We have to imagine what a new structure will look like.
4) Traditional media, from television to newspapers will continue to be plenty important, but they need to change their ways as well. They have to provide news and entertainment in a greater variety of forms and do a better job of targeting consumers. “We are hungry for information and will value those who do a superior job of editing the ocean of material there is,” he says.
5) To stay on top of trends, Tobaccowala reads four daily newspapers: The Wall Street Journal, Financial Times, The New York Times, and the local paper of whatever city he wakes up in. A movie hound, he’s also a fan of online movie trailers. He’s also an avid user of RSS feeds so he can consolidate information for his iPod and PDA.
6) For his own company, SMG, he wants to change its organizational structure to something more like a social network rather than a vertically integrated hierarchy.