CB_2018-02-08

54 LIFE Thursday, February 8, 2018
Ad Calendar
Now online!
Need more frequency for your B2B
campaign? Your directory listing and
display ad on the CARIBBEANBUSINESS.
com website allows you to keep your
product or service in front of potential users
24 / 7 / 365.
If you’re advertising in this weekly print
edition, you’ll enjoy great “combo” rates!
2017 Caribbean Business
40 Under 40
Caribbean Business is looking for a few good
men and women. If you know young exemplary
leaders who:
• Are under age 40 as of Nov. 30, 2017
• Have held posts in upper or middle management
for at least two years
• Deliver innovative strategies and initiatives that
make a difference
• Possess a sterling track record of leadership
throughout their entire career
Submit you nominations now!
Check online for guidelines
and extended deadline
Caribbean Business
Power 100 2017 Edition
Discover which companies are spearheading
the island’s economic growth with innovative
strategies, products and services—all this and
much more in the Caribbean Business Power 100.
The 2017 Special Report brings together top
executives, companies and brands that have
transcended their industries to contribute to
Puerto Rico’s economic development, even as we
face most trying times.
Our special fully color, glossy magazine-type
anniversary edition filled with indispensable facts
and information on the forward-thinking people,
firms and brands that are helping to define our
future today.
The executives, companies and brands were
chosen on the basis of the following criteria:
· Innovation
· Industry leadership
· Contribution to Puerto Rico’s greater good—
whether through job creation, community
service or positive promotion of the island’s
image beyond our shores.
Look for these in March and April 2018!
Call 787-728-3000 today!
Rebuild or Reinvent
The Choices
Are Clear for
Ad Industry After
Hurricane Maria
BY JORGE BAUZÁ
Is industry fixing up its home after
the hurricane or packing their bags
to find a new place? After Hurricane
Maria, some people have decided
to fix their homes while others have
seen the investment of time and money it
will take, and decided to find a new place.
Whether it is the same place or
a radically different latitude,
when confronted with this
new reality some have chosen
to build upon existing pillars
while others have bet on creating
an entirely new environment.
Such is the situation
faced by industry.
The case for building on our
existing pillars is clear. The
industry has history. It has talented
professionals, who are
good at what they’ve always
done, and clients willing to pay
good money to keep the course.
They are supported by influential
CMOs who are satisfied
with the performance of their
agencies, the plans they have had in place
for ages, and have had good results year
after year.
In terms of numbers, some ad agencies
are better off building on their existing
profit pillars. These formulas have provided
them a steady income for years and
a new business plan would bring about a
new way to look at profits, which may be a
major hurdle for many. Some full-service
agencies need so much money to run their
full-service operation that they are sort of
trapped in their existing structures; they
have evolved themselves from a juicy rate
card to thin monthly fees supported by
volume discounts and commissions. In
essence, the agents we once were as an
industry in the 1950s are still well-represented
by these companies, and it seems
many have opted to stay the course.
The case for building something new
within the industry is clear and probably
in its best timing. The consumer has been
redefined, the brand landscape has been
replotted, and our new reality has brought
about new needs that may be answered
within the industry’s toolbox.
Enter consultancy. Although in the U.S.
consultancy firms are thriving, in the local
industry we have some companies that are
starting to offer such angles. This philosophy
is waiting for major brands to sign up
to this new approach to the industry. IBM,
Deloitte and PriceWaterhouseCoopers
have capitalized on their pre-existing tech
and management consulting structures
and now offer such services as marketing
services to maximizing digital media buys.
These companies are so well-positioned
Our industry is in the
best position to lead the
rebuilding and rebirth
of our island.
that they have even broken into Ad Age’s
top global agency ranking. But how about
building it the other way around? Consultancy
born from the industry equity on research,
product development, media, creative,
production, digital, social and many
other pillars that comprise our services.
Emma Williams from Marketing Tech
Jorge Bauzá
CONTRIBUTOR
writes, “Brand CMOs will increasingly
look to their agencies to share the best approaches
to media buying, data management
and measurement—seeking their
advice, for example, on how to best utilize
their tech stocks or in developing new
joint products.”
Since customer experiences have
evolved to the point of omni-channel and
omnipresent points of contact, so has the
need for companies that are able to understand
these new paradigms and help
brands to maximize their investments and
keep track of all the interactions that occur
in this ever-changing landscape. No
one knows the new market landscape after
Maria as well as the advertising/marketing
industry. Many brands were present
in the rebuilding phase
of the island, and some
agencies changed strategies,
showing the power of instant
creativity and ability to
adapt with positive results,
which is a major plus when
proposing that reinvention
of the industry.
Our industry is in the best
position to lead the rebuilding
and rebirth of our island.
Every element needed to
rise up can be found in the
multitalented roster found
in digital agencies, publishers,
media channels, promotion
firms, content developers,
etc…. We all only need to
sit at one huge roundtable and help each
other define where that path is and how
we can all walk on it without stepping on
each other’s toes.
The only mindset needed before deciding
if your business will rebuild or reinvent
is one brought up by Darwin, and it
serves as the perfect roadmap for this new
reality after Hurricane Maria. “In the long
history of humankind, those who learned
to collaborate and improvise most effectively
have prevailed.”
—Jorge Bauzá is partner & co-founder
of La Ferretería, which bills itself as “a
collaborative platform where agencies,
brands and startups will find talented
creatives from all disciplines, working
on discovering effective ways to connect
with consumers and create new communication
solutions.”