Sharb Farjami, the CEO of Wavemaker, North America, has 27 years of experience in advertising and media, both in the United States and overseas. With over ten years of C-suite level experience, Farjami is an industry thought leader and has been driving growth for Wavemaker and for their clients in the ever-changing advertising and media industries. Under, Farjami’s leadership at Wavemaker, the agency has experienced strong growth becoming the second largest global media agency network in the process.

Prior to his joining Wavemaker, Farjami had leadership positions including; CEO of Storyful, Director of Content Commercialization at Foxtel (Australia), Chief Commercial Officer at News Corp. Australia, Chief Operating Officer at Mindshare (Australia) and VP Ad Sales at Viacom (Australia).

With such a varied background, we emailed Farjami a few questions, to gain his perspective on the current issues facing advertising, ad agencies and media companies. Below are the responses.

In the past you have worked for a large media company and now you are CEO of a large ad agency. What are the similarities and the differences?

Farjami: In that they are all part of a wider media ecosystem, there are many parallels and similarities. Ultimately though, the fundamentals of the business models are quite different, and the internal organizational behaviors reflect those differences.

This is wildly oversimplifying reality, but media companies tend to be focused on three key priority areas. Firstly content, in whatever shape or form that comes. Secondly audiences, and how the content gets to more of their audience, including the technology and products that support this. And finally, the revenue that can be created by combining the first two priority areas to maximum effect. Most media companies will organize themselves with teams to support one of these three core focus areas.

An agency’s priority should be focused on our client’s business outcomes. And so, I find there to be a more varied level of work on the agency side. For example, a CPG client’s business is vastly different to a financial institution, and so how we use media to deliver business outcomes must be specific and different in each instance. Of course, the core underlying principles of well managed media investment should be consistent, but the execution and customer journey are varied every time. As a result of this, agencies are more of a reflection or extension of our client’s businesses. At least we should be if we’re doing our jobs well.

The biggest similarity though is that both media companies and agencies are full of smart and hard individuals that love the industry and make it a great one to be part of.

Today marketers have more choices than ever before when investing their ad budgets. What criteria do you look for when evaluating media opportunities?

Farjami: Firstly, a data-led approach is crucial. I prioritize leveraging data to inform decision-making and align with specific client business goals. Secondly, omni-channel planning is key to integrating multiple channels, connect the entire customer journey and avoid silos. The industry is slowly breaking down the legacy silos, but we need to transform faster. By leveraging data and adopting an omni-channel approach, marketers can make informed decisions at speed, drive cohesive customer experiences, and achieve optimal results that support their business goals.

This upfront the use of data and accurate measurement has become front and center. What is on your wish list for improved measurement?

Farjami: In the pursuit of improved measurement standards, we are actively promoting standardization, universal acceptance, and predictive outcomes. We believe it is crucial for measurement partners to incorporate feedback from the buy-side and ANA, gain universal acceptance and utilization, ensure accurate audience representation, and enhance transparency and standardization. Our aim is to develop a robust measurement solution that effectively addresses cross-screen reach and frequency while accurately reflecting consumer behavior. We are committed to establishing test and learn pilots, creating frameworks for KPI-based measurement approaches, and working towards a unified currency. Our focus centers around standardization, universal acceptance, and predictive outcomes to drive significant advancements within the industry.

How has the consumer journey to product purchase evolved?

Farjami: The purchase journey has never been linear, but eCommerce has made that funnel flatter and more integrated. eCommerce behavior catapulted by COVID means shoppers are turning to channels like Amazon AMZN to do in-aisle research. Shopping touchpoints are more connected than ever, which means our clients must be more connected to the shopper than ever. 

There's no one-size-fits-all approach. Some of our clients' brands may require the consumer to conduct deeper research before they purchase while others, we can drive awareness through to purchase with a click alone. Media strategies are critical to deploying the right channels to drive those metrics most correlated with purchase. 

Our clients are increasingly moving to second-party data via retail media networks in favor of high-fidelity audiences and measurable results to better understand how media moves the needle for our clients without waiting for MMM results. What was once thought of as exclusive for CPGs has become valuable data for endemic and non-endemic advertisers alike. DTC has become an imperative for advertisers to achieve true lifetime value measurement without relying on third-party ecosystems. 

What is on your radar now? What are the biggest changes in advertising do you anticipate will come in the near future?

Farjami: AI is set to revolutionize advertising, offering incredible potential to optimize campaigns, maximize ROI, and fuel brand growth by crunching data and providing valuable insights. But with great promise also comes great responsibility. We need to find a balance between AI-powered creativity and its risks. It is important that we safeguard ad placements with human-led context for brand safety, prioritize authenticity, target accurately, be transparent about data practices, and establish ethical guidelines. We should also collaborate with legal and AI experts, maintain quality standards, inform clients of AI use, and consider the impact of AI on sustainability initiatives. By being transparent, accountable, and ethical, we can harness the power of AI to improve outcomes and build consumer trust in the advertising industry.