Lazarus also outlined Ogilvy’s ongoing campaign with Louis Vuitton and explained how the agency had extended the print program online. The campaign centers on celebrity photographs featuring the famed designer’s bags. “Twenty years ago, we would have been satisfied to have these amazing photographs and would have left it at that,” Lazarus told the audience. She then recounted how Ogilvy had brought the campaign online by having the featured celebrities show off their favorite elements of their home-towns (Gorbachev’s Moscow, Keith Richards’ London, etc.).
In a panel examining the buy-side, Donna Speciale, President of Investment and Activation at MediaVest USA prognosticated a grim year for print investment absent some major structural changes of how print is bought
“Print is going to have a tough time, particularly now with election spending over. This is largely due to the medium’s inflexibility. Advertisers need to have their cash on-hand to adapt to market fluctuations,” she said.
Speciale also addressed the client’s mentality amid the current economic downturn, saying that the decision at the top of their minds is: “Should I pull back, keep my budgets where they are or should I go aggressive and increase ad budgets because competitors are pulling back?”
Speaking on how things look for mobile advertising, the panel agreed this was probably not going to be a breakout year, since tighter ad-budgets will compel clients to stick with more familiar mediums and approaches.
OfficeMax’s Bob Thacker Senior VP Marketing/Advertising put it this way: “It’s like soccer; it’s popular in the rest of the world, but we haven’t quite figured it out yet.”
Some trends identified by the panel were:
1. CPGs will continue to spend in ‘09
2. Clients will be more risk-averse with tight ad-budgets and will stick with familiar mediums/approaches.
3. 2009 will not be a year for experimental programs for the most part, as clients will want to be playing it safe with their already limited budgets.
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