The past year has been significantly concerning for the media industry. As reported by Fast Company, more than 21,400 media jobs were lost in 2023. Just three months into 2024, the Los Angeles Times has laid off more than 20 percent of its newsroom, The Wall Street Journal has cut 20 staff members in its Washington, D.C., office (during an election year, at that), and TIME Magazine has laid off 15 percent of its staff. Even the relatively “new” media outlet BuzzFeed, which was once scoffed at as a valid news source due to its prolific spelling errors and use of memes, shut down its BuzzFeed News division in April 2023.
While these recent numbers are staggering, the collapse of traditional journalism is certainly not a new issue. In fact, newsroom employment in the United States alone dropped 26 percent between 2008 and 2021 according to Pew Research Center.
While we tend to blame the collapse of traditional journalism on the rise of social media, it is important to note that democratizing the dissemination of information isn’t an inherently bad thing. It has given a voice to many who may have not otherwise had the opportunity to have a platform.
However, there are a few key concepts we face in this new world:
This week, I have the privilege of attending the WMU Food Marketing Conference. It’s a special moment for me to reengage with my undergrad alma mater (Go Broncos), and an opportunity to connect with some of the brightest minds in food marketing. This industry is facing massive shifts in consumer preferences toward healthier food options and overall consumption changes, and consumers are seeking expanded digital and e-commerce experiences that offer more personalization and efficiency.
I'm looking forward to hearing industry experts talk about these topics and more, helping to ensure that at Hart, we’re doing all we can to continue assisting our food and beverage clients evolve alongside the industry.
Here are a few topics we’re keeping an eye on:
Caitlin Clark, the electrifying point guard for the Iowa Hawkeyes, has become the biggest name in college basketball – men’s and women’s – captivating audiences with her unparalleled skillset and must-see performances on the court.
But what makes Clark special today isn’t just her talent; it’s the impact she’s had on basketball and women’s athletics.
This week, I attended the DISCUS Annual Conference & WOTVS Global CONNECT! event to join in on the conversation with spirits industry leaders, decision-makers and supply chain partners. This was an incredible opportunity to dive into some of the mission-critical policies concerning the industry, connect with various industry executives and gain important insights from thought leaders in the spirits space. For me, one of the most interesting discussions of the event revolved around the importance of focusing on ways to generate value and growth as a brand in the spirits industry.
As anyone in the industry knows, there have been tremendous changes taking place over the past few years. New products and competitors like cannabis-infused products, new legislation and regulation, and increased levels of responsibility stemming from diversity, sustainability and moderation initiatives – it can be a lot to navigate and easy to lose your path as a brand.
That’s why, amid all this change, there is an increasing need to focus on the things that have always generated value and growth in the industry. So what does that look like?
Let’s take a closer look at some of those tried-and-true strategies.
Most marketers and brand champions know the importance of creating engaging experiences with brands. But what truly makes an impact? Think back to the last time you were genuinely impressed and inspired by a brand. It wasn't just a single interaction, but a carefully crafted series of micro-moments that left you feeling appreciated and understood.
These are the invisible threads that make up the fabric of customer loyalty. These threads are none other than your customer touchpoints – the moments of truth, the silent but powerful conversations your brand has with customers throughout their entire shopping journey.
[Tater definition]
The infamous “tater.” In the world of liquor, the term “taters” takes on a different meaning, referring to avid and discerning consumers who have a deep passion for premium and rare spirits. Liquor brands find themselves in an ongoing tango with the tater community and consumers find their bottled hopes and dreams slashed by the allocations already cornered by a more aggressive consumer.
Taters do, however, play a crucial role in shaping brand perceptions, as their reviews, recommendations and preferences can significantly influence the purchasing decisions of other consumers. A tater’s impact extends beyond immediate sales, as their endorsement can elevate a brand's reputation and contribute to long-term success in the dynamic and evolving world of liquor. As such, creating the currency of “the insider” by building relationships with tater through exclusive releases, personalized experiences and engagement on social platforms is paramount for brands looking to thrive in the competitive landscape of premium spirits.
Here are five key learnings that can be leveraged from how taters operate.
When designing and orchestrating retail experiences, established and emerging cannabis brands are investing in these modern engagement-led strategies: identifying opportunities for enhanced brand storytelling, increasing the use of technology, creating space for pop-up shops and more. These strategies are fruitful and provide a seamless experience for consumers, but to be truly remarkable, you need to outshine all others in their consideration set.
How do you take your retail experience to the next level?
This past week, I had the privilege of attending MediaPost’s Brand Insider Summit: Pharma & Health, a gathering of some of the brightest minds in healthcare leadership and innovation. From technological advances to cutting-edge strategies, the three-day conference provided a platform for healthcare experts nationwide to spark thought-provoking discussions and share invaluable insights.
Here are my three key takeaways from this pivotal event:
Artificial Intelligence is here, and it is not going anywhere. This is no longer a conversation about preparing for AI; it’s about how, as leaders, we manage its ever-expanding presence with careful intention and purpose.
The effects of AI, especially generative AI, on our industry have been far-reaching and dramatic. In just the past twelve months, we’ve seen the burgeoning technology go from a fun little program to mess around with after work to where we are today, with applications being developed to streamline processes, write ads, generate images, and touch all aspects of the advertising, marketing, and public relations fields.
The Super Bowl – a cultural phenomenon and unofficial national holiday when families and friends gather around screens eagerly awaiting not just the clash on the field, but the unveiling of the most anticipated commercials of the year. But when did Super Bowl commercials become as important, if not more so, as the game itself? I would point to one campaign: the Bud Bowl.
What can today's marketers learn from the Bud Bowl?