Technological tillers teach us that sticking too much to old perspectives and ideas is a surefire way to fail. We need to stop thinking of the automated RFP as the product itself, but rather a framework allowing buyers and sellers to access media transactions. If the framework can be avoided while simultaneously creating a better experience for media transactions, then that framework should be avoided.
If technological tillers are ignored new products and technologies fail. For those who acknowledge and solve the problem, it generally results in a revolution and massive success.
I recently watched a great keynote that I thought applies directly to transacting media and specifically media trading. In short, the main point is that sticking too much to old perspectives and ideas is a surefire way to fail. The term for this behavior is 'technological tiller.'Scott Jensen, product strategist at Google, gave this great talk on this subject and came up with this great new term, the 'technological tiller.' Scott defines a technological tillers as happening when we sticking an old design onto a new technology wrongly thinking it will work. He derived the term from a tool called a boat tiller, which was, for a long time, the main navigation tool known to man. Hence, when the first cars were invented, rather than having steering wheels as a means of navigation, they had boat tillers.
Cars that used boat tillers to steer were horribly hard to control and prone to crash. Cars could only get widely adopted after the steering wheel was invented and added to the design.
With an understanding of technological tillers, the two main types of media buying, real time and forward, look very different. For everything that was built using the RTB protocol, there was pretty much no old perspective to stick to when building the technologies and processes, so many problems were avoided and there were no tillers to speak of. For forward media trading, this lens of the past has driven most technology to be developed using the old perspectives. RFPs are a technology tiller. The context and the technology have changed dramatically in recent years.
Worse still, most of the language of media buying and selling technologies was created in the realm of inventory management. Before media could be bought and sold effectively, the very first pioneers of media technologies created technologies such as cookies and ad servers. This first generation of technologies was not developed to support media buying and selling, it was designed to facilitate an understanding of what, and how much, inventory would be available at some time in the future, to track the activity of users for the media owner to provide a good experience, or other non-transactional reasons.
For media trading, this is a valuable lesson: context or technology changes most often require a different approach. In our car example, the new technology that added a motor engine to a horse carriage needed the new design of the steering wheel to make the resulting technology, the car, reach its full potential.
For forward media trading to reach its full potential we need something different than the RFP. Linda Boff, chief marketing officer at GE, recently wrote a great article Marketers: It's Time to Say RIP to the Media RFP
"...when I think about the many ring-around-the-rosy conversations that characterize the standard RFP process, I literally want to cry. In a post-RFP world, agencies and publishers don't waste time on proposals that will never go anywhere, and brands don't devote resources to sifting through cookie-cutter submissions. Instead, time and talent can be invested where it matters: in identifying breakthrough experiences that are good for users and drive attention -- the only metric that really matters."
The only thing that Linda does not address in this great article is what the solution is. In other words, if automating the RFP process is a technological tiller, then what is the steering wheel solution for media buying? And that my friends is why media futures technology is so very necessary.