Best Practices & Tech Marketing Teams Must Have with Lee Hunt
On this episode, we sat down with Lee to discuss best practices and tech adoptions marketing teams need to know in order to stay on the cutting edge of the digital industry. Lee Hunt is the founder of Lee Hunt, LLC, a New York-based consultancy focusing on brand strategy, media architecture, competitive analysis, and personnel training for television networks and media companies. He's worked at MTV, Turner, VH1, Lifetime and has been on the receiving end of an acquisition for an entertainment company he founded. Needless to say, among the industry, he's considered to be a G.O.A.T. (Greatest Of All Time).
Here are the highlights:
[13:52]: What are your thoughts on large conglomerates, like AT&T and Time Warner, merging. Do you think it's the smart thing to do in order to compete with the Netflix's of the world?
"I think they've all realized that you must have that kind of strength. I really believe the future is going to be vertical portfolios. Last year, 82% of the top fifty networks were controlled by eight media companies and in the next couple of months, it will probably be six. So, if each one of those media companies created a vertical portfolio, a channel essentially, and they've got all their sub-channels underneath it, as a consumer I'm going to buy the NBC, FOX, the Disney grouping, the Discovery grouping, the CBS, and Viacom grouping. I’d pay for six super channels as part of my skinny bundle and I'd still get probably 80-90% of the content I get in a five hundred channel universe."
[18:33]: If you're giving your best consulting advice, what is the #1 thing brands MUST focus on in 2018?
"One word, it’s 'relevancy'. Understanding who your target audience is, make sure that they are available and it's an audience you want and making sure your content or whatever service you're providing is relevant to them."
[22:06]: If you're the president of a television network, what's you're main focus over the next three to six months to make sure you're staying relevant?
"First of all, the normal development cycle of any show is eighteen months to two years. So, you're thinking about what product you have now and how to make it as successful as possible and continue forward. So, it's hard to have that kind of short-term vision, you've got to really be thinking farther out. And I give programmers so much credit to try to anticipate what people are going to like three years from now. I don't know how they do it."