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CEOs Pledge Collaboration at Advertising & Media Summit
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Moshe Kamar, Amdocs Advertising & Media division president, during his opening remarks. | Leaders of the world's top local advertising and directory publishers enthusiastically participated in collaboration and knowledge-sharing discussions at a recent strategic summit sponsored and hosted by Amdocs Advertising & Media in New York City.
"This meeting provided an excellent opportunity for industry leaders to share best practices and discuss ways to strengthen our industry," said Bruce Akhurst, CEO of Sensis, Australia. "There is a need for such an industry-wide forum and Amdocs should be congratulated for its initiative in making this happen."
The theme of the summit was industry transformation in the digital media era. Local advertising and directory publishers are facing an industry-wide trend toward digital advertising centricity. In today's competitive environment, which is flooded with over the top (OTT) players such as Google and Facebook, directory publishers have become one of many sources of information and they are capturing only a small portion of the exploding online advertising market. Local advertising and directory publishers have concluded that cooperation provides them with the best chance of continued success in their ultra-competitive industry.
The summit focused on interactive, roundtable brainstorming and best practices-sharing. Participants focused on the most strategic areas of the local advertising industry, including:
- Adapting the sales organization and supporting technology to new business processes – participants closely analyzed and discussed industry players' best practices, and engaged in a roundtable discussion about how to apply the best practices
- The impact of digital media on financial models – participants agreed that current models are dated and better suited to the previous print-centric reality. The CEOs brainstormed on how to improve the models. The knowledge-sharing and thought-leadership resulted in many quantifiable methods for the participants to consider
- Mobile media monetization – participants discussed how cooperation would enable them to more effectively monetize local mobile media
The event closed with an interactive discussion that plotted the next steps to advance active collaboration between the participating organizations. "I enjoyed the summit. It was valuable for my organization and I received a lot of take-away ideas. The spirit of collaboration was refreshing and I look forward to seeing how this initiative develops," said one CEO at the end of the summit.
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