The future of marketing is about creating content, not buying media:
Union Square Ventures partner Fred Wilson has seen the future, and it's in "earned," not paid, media, which has big implications for marketers, agencies and, of course, the media itself.
He believes that spending on traditional media will continue to decline and spending on software and creative will increase:
While overall spending on marketing may go up, traditional-media outlays are declining, and spending is growing on the creative and technology necessary to implement social campaigns on Facebook, Twitter and MySpace. Agencies have to find a way to continue to make money in this environment.
As marketing dollars shift to technology and creative, Fred sees huge opportunities for creative & technology marketing offerings such as analytics tools, social networking platforms and creative ad & media networks:
As a venture capitalist, Mr. Wilson said, he's funding companies that address the new marketing paradigm, from earned-media platforms such as Twitter and social video site Boxee to next-generation ad agencies such as Federated Media and Clickable, and from analytics firms such as ComScore and Quantcast to tech platforms such as FeedBurner and Dave Morgan's Simulmedia.