Scientific studies suggest that the dinosaur era abruptly end when a large asteroid struck the Earth at the end of the Cretaceous Period. Remarkably though, it was not the comet’s impact that wiped out the dinosaurs, but the after-effect of the impact where the Earth’s skies were choked with debris starving the planet from the sun’s energy. Without the sun, photosynthesis was impossible causing a domino effect on the food chain. The dinosaurs weren’t able to survive the lack of heat reptiles like them needed and the climate swing has wrecked havoc on their food sources, thus, the end of Tyrannosaurus rex’s reign.
For decades, old-school ad agencies were largely dependent upon mass media channels as their primary sources of revenue, much the same as how the dinosaurs completely relied upon the sun’s heat source. But gone are the glorious and overly abundant days of million dollars’ worth of advertising revenue from the giant television companies. With the rapid digital revolution, the gigantic television institutions were all, but without a warning, left blotted out by the internet’s dusts.
The rise of the internet era has undeniably shaken up the industry of media advertising much like how the large asteroid that hit the planet millions of years ago have affected the dinosaurs.
Today’s companies are no longer pouring their advertising budgets into television networks, and even printed medias like the newspapers are faced with bigger challenges. Companies are now becoming wiser, particularly considering how much dollars they must spend on a very short prime time commercial spot. Instead, they are pouring their resources on the digital media agencies that were more budget-friendly and yet much more far reaching. Just imagine the number of consumers a social media ad can reach with the way majority of the people spend over the web nowadays. How much time would an average person today spend watching television shows anyway, compared to the hours these same individuals would spend surfing the web.
The thing with the old-school ad agencies is that they are unlike the digital specialists who are pretty much leaner, smaller, more resourceful and creative; polymaths. Instead, just like the dinosaurs they have relatively huge bodies. They need to fill in huge pockets from their executives down to their large number of staffs; they will need big offices and generally require more resources, which are translated into huge amounts of dollars.
Needless to say, old-school ad agencies need to evolve, else they vanish. Remember, not every dinosaur had tragic fate. Some were able to adapt with the new environment and continued to survive today. Birds with roots from the reptile family, the alligators and crocodiles, for instances are still thriving.
The new advertising industry is more focused on bigger and performance oriented diverse ideas. As the competition in the media is growing, resources are very scarce. Nonetheless, if – and only if – these old-school ad agencies learn to adapt, or afford to be smaller and wiser, then most likely they’ll be able to thrive in this ever-changing advertising landscape.