Future of Advertising
Classical advertising has gone the way of black-and-white television. What will replace it? This project and book looks at the future
of advertising that is emerging from the interplay of emerging new media channels and a world in which consumers are in charge.
Drawing upon a set of innovative experiments organized by the Wharton School’s SEI Center for Advanced Studies in Management and
the insights of key stakeholders and experts from around the world, the project will provide fresh insights and new rules for the
future of advertising. In addition to exploring digital media, the book will examine creative combinations of old and new media that
are defining the new terrain of advertising. It will offer a definitive guide to the new landscape of advertising, identifying the
best strategies for specific challenges, as well as critical insights on the transformation of the field.
Among the key strengths of this project:
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Leadership and Team:
The project has drawn together an outstanding group of new media and old media leaders, including
representatives from Google and Microsoft, as well as insights from centers of research including
the Wharton School,
Ehrenberg-Bass Institute,
and the Advertising Research Foundation.
It draws together the best industry and academic perspectives on this topic. The project is guided
by a “global advisory board” of advertising, media and marketing executives in the US, Europe, Latin
America and Asia, who will serve as expert advisors and reviewers, as well as “global data collectors”
of new approaches around the globe. This will allow the authors to compare approaches in different
regions. In addition to these experienced executives, the advisors are drawing on the insights of front
line and in some cases younger staff, who may well create the future of advertising. The advisory board
will help interpret the results and have first access to all the data. The board will identify new areas
requiring experimentation based on the work to date. The advisory board members will also take the lead
in implementing some of these experiments. In addition to the leadership of Professor Jerry Wind, Joe Plummer,
Mark Morris and the advisory board, the project team also includes project director Catharine Findiesen Hays,
researchers, administrative staff and professional writer Robert Gunther.
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Research Based:
The insights from this project will be based on a comprehensive research project, drawing on the best insights
of research and practice.
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Combining industry and academic knowledge:
Comprehensive review of popular business journals on innovative advertising approaches (in new and old
media), including new strategies and new business models. The project will capture knowledge from
innovative initiatives and new experiments by companies such as Google and Microsoft, which are shaping
the future of advertising. It will also include case studies from pioneers such as Roll International (POM Wonderful).
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Survey of innovations and experiments:
The project has designed a questionnaire for advertisers, advertising agencies, media companies and major new players
to determine what we know and what works.
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Empirical Generalizations:
Wharton’s SEI Center for Advanced Studies in Management sponsored a major global conference in December 2008, led by
Professor Jerry Wind and Byron Sharp, Director of the Ehrenberg-Bass Institute. It drew together leading researchers
and practitioners to explore what we have learned from a series of research projects on advertising. It offered meta
insights from a large group of researchers from around the world that was published in the
Journal of Advertising Research and will be also published in the online
Empirical Generalisations in Marketing Science.
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See VIDEO HIGHLIGHTS
from the conference; listen to academic and industry experts share their findings and interact with the conference participants!
Click HERE to see video
highlights now available.
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Read and comment at our conference blog showcasing reports from the conference and other Future of Advertising related
postings online at http://futureofadvertising.wordpress.com/.
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Deliverables:
The results will be analyzed and synthesized by experts in research and practice in the field. The output of the project
will include:
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A major book that will help define the future of advertising,
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A live website as a platform for on-going dialogue that will be the source of material for the book and form the
foundation for a planned “wikipedia of advertising.”
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A December 2008 conference on empirical
generalizations from advertising research, along with a special issue of the
Journal of Advertising Research (for more
information about the issue, click here)
and online publication of the papers in Empirical Generalisations in Marketing Science.
Latest News:
Announcing a New Initiative by Wharton’s Future of Advertising Project and Google
Google and the Wharton School’s Future of Advertising Project are partnering to create a first-of-its kind online destination for
marketing and advertising. The YouTube channel is designed to be the most current, compelling, convenient and credible site for
the latest thinking on an industry in the midst of complex transformation. With change happening faster and more game-changing than
ever, together we aim to offer the definitive community for improved navigation through the industry’s maelstrom.
The site will offer short, 1-3 minute videos from industry and academic thought leaders who address the pertinent questions on the minds
of marketers including how they can leverage recent findings and best practices to make better marketing and advertising decisions. This
hub of insight will also serve as an interactive platform for audiences to connect with speakers, ask topical questions and engage in
conversations to help move the discussion forward. A similar site launched in the UK in March 2009 about managing in the current
economic environment now hosts more than 350 videos and more than 150,000 unique visitors (Survival of the Fastest).
The site will also highlight the Wharton School’s Future of Advertising Project. The mission of the FoA Project is to
lead the reinvention of the scope, practice and value of the traditional advertising model. By collecting and assessing
innovative campaigns and initiatives from around the world, and evaluating them through the lens of a new mental model,
the project seeks to raise the level of knowledge about what works and what doesn’t as the industry evolves. This collection
of innovative, empirically-oriented videos will enable thought leaders and practitioners to compare, contrast, analyze and
draw conclusions for the benefit of the industry.
Google and Wharton are bringing the marketing community a forum to watch, engage, and debate - keeping us all better informed
and increasingly effective as the game continues to change.
Visit the site today!
www.youtube.com/fastforward
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