Laura Patrick
Owner & CMO at Bay Street Biergarten / Executive Producer & In-House Counsel at 4Corners Productions / Operating Partner at Patrick Properties Hospitality Group
Website Address: baystreetbiergarten.com / 4cornersproduction.com / pphgcharleston.com
Each week on “Media Champions,” our host talks to media experts across the country. This week our host speaks with Laura Patrick from Bay Street Biergarten, 4Corners Productions, and Patrick Properties Hospitality Group. To learn more, check out baystreetbiergarten.com / 4cornersproduction.com / pphgcharleston.com.
What is the biggest change in marketing that you see coming in the next 2 years?
I see a drastic shift from traditional marketing, such as print ads, to digital. While publications rely on ads for their survival, I believe they are also going to get creative as far as finding digital avenues to get ad revenue. I also see automated and programmatic software, using algorithms to target specific audiences making up the majority of advertising.
What is the advantage to working with an outside media buyer as opposed to having just an internal marketing director?
There are several advantages. As an internal marketing director myself, I don’t have nearly the amount of resources that an outside media buyer has access to. Outside media buyers are usually able to use the economies of scale more than an internal CMO. Because they have a plethora of clients, media buyers not only have more experience and financial resources, but usually have closer relationships with advertising spaces and are able to negotiate rates based on either those close relationships or the fact that they have multiple clients that are willing to advertise with one company. They may also have the added benefits of targeted marketing software (programmatic) that offer better analytics and more bang for your buck.
How does a media buyer stay on top of trends with media placement?
I think it requires a lot of personal research. Obviously, sites like yours, as well as mashable.com, and techcrunch.com are useful, as well as social media groups about marketing. Conferences and in person networking are also useful if you have the time. I honestly prefer to see what comparable successful companies also do to advertise.
