Understanding our business by following the recent headlines about digital publishers is like learning civics by binge-watching cable news. Yes, there are real issues and struggles. But there is also a fair bit of handwaving, amplification and ginned-up drama.
Yes, it's awful if your job was eliminated in your company's recent RIF. Yes, it sucks if the company's recent pivot and reorg means you're now doing a job you don't like quite as much. And yes, it's lousy that your firm has gotten a big haircut in its valuation.
But no, this is not the beginning of the end.
STAQ is proudly underwriting this week's Drift. STAQ's Industry Benchmarks provides insights into programmatic performance compared to the broader marketplace. This week's insight: video units are being sold at an average of 6x higher CPMs than display ($8.46 vs $1.26), while PMPs for video are 2.5x higher than Open Auction ($16.86 vs $6.93). Join STAQ's Industry Benchmarks today.
It will sound simplistic and reductive, but having spent a full quarter of a century in digital media has given me some perspective on our latest crisis of confidence. And since perspective seems to be in short supply just now, let me share.
Hegemony is Not Forever. We were once assured that winner in digital advertising was Netscape. (I'll pause while you look it up.) Since then we've seen Infoseek, Yahoo, Microsoft, AOL and others come and go. Consolidation is a fact of life - it has always been thus - but it's also cyclical. The biggest guys dominate everything for a while, and then the smaller, more specialized players make a comeback.
Don't Think You Know. Don't compare your insides to everybody else's outsides. As we struggle with our own company's glitches and limitations, we tend to romanticize the workings and success of others. Having spent time in the backyards of close to 700 companies over the years, I can tell you that everybody has weeds and brown spots.
It's About the Marketer, Stupid! Put away your 2x2 competitive matrix and lose your copy of the latest analyst reports. Obsessively pouring over The Racing Form won't make your horse run any faster. If you're going to obsess, stay tightly focused on marketers and their immediate business problems. There are audiences they can't connect with and stories they can't tell. They're confused and anxious and need your help. Put your energy on them: it's their money.
People Matter. Sure, great technology might win you some deals and make your company more valuable to investors and acquirers. But the dirty little secret is that smart people paying attention to a quality process still matter. A lot. Our customers are working with the lowest headcounts and brain-counts they've ever experienced. Care enough and focus on the right things and you'll earn far more than a spot on the plan... you'll become an in-sourced department and you'll be bulletproof.
Default to Action. Every one of us has a finite amount of attention and energy. Spend it worrying about your competitors or watching stock prices and industry headlines and see where it gets you. Expect nothing...blame no one...do something. You can't control the outcome but you can control your own behavior and choices. And feel great about the work you do...every day.
