Media Consolidation Continues.  

  • Traditional media companies are consolidating to build leverage with consumers and advertisers.
  • Fewer people are reading newspapers, watching linear TV or listening to the radio.
  • Companies are merging to acquire content and increase market presence.
  • Pressure remains to acquire content or improve access to subscribers and viewers.
  • Goal is to be more attractive to consumers and better compete against digital media.​

The Rise of 'FAANG' Companies.

  • The 'FAANG' companies (Facebook, Amazon, Apple, Netflix, Google) have become competitive threats in multiple industries.
  • Successfully pulling viewers away from traditional media to online offerings.
  • Advertising models are being up-ended targeting subscribers on their laptop’s, phones or tablets.
  • One-to-one targeting and customer acquisition is the focus rather than brand awareness.
  • In 2017, global digital advertising dollars surpassed television advertising dollars for the first time.
  • Google and Facebook represented the lion’s share of this revenue with over 63% of digital advertising dollars.

Implications For Recruiting.

We have been heavily involved in helping companies find the right leaders as the revenue models shift to digital and online models.  Required skills include customer acquisition, sales, marketing, technology, loyalty, data and analytics.  Artificial Intelligence and predictive analytics are becoming a critical tools.  The right talent might have only 60% of the needed skills and be coming from a very different industry and senior recruiting skills are critical to find, assess and filter the talent.
  • Narrow your wish list to about six or eight key attributes. Then get consensus among the other senior executives.  Being clear about what you are looking for is the key to success.
  • Step out of your comfort zone. There’s a tendency to focus on people within your own industry, when there might be highly relevant candidates in closely related industries who could bring a fresh perspective to your business.
  • Go after the change you want to see. Target leaders in companies and industries that are well ahead of yours in developing digital marketing techniques and models.
  • Cast a wide net. Think differently about where and how you’re searching. A local search is unlikely to be broad enough.
  • Roll out the red carpet. Top candidates will have options. Even if they weren’t looking when you first approached them, they’ll start to respond to other inquiries while they’re interviewing with you.
  • Treat candidates like customers.  The hiring process should be as careful  — and as creative as — acquiring a high-value customer.
Titles:
  • Chief Executive Officer
  • Chief Operating Officer
  • Chief Revenue Officer
  • Chief Marketing Officer
  • Chief Customer Officer
  • Chief Creative Officer
  • Head of Sales / Ad Sales
  • Head of Distribution
  • Head of Marketing / Digital Marketing
  • Head of Customer Acquisition & Retention
  • Head of Integrated Customer Engagement
  • Independent Board Directors
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