For Tuesday's iMedia Brand Summit presentation, Wall Street Journal's Suzanne Vranica interviewed MediaVest's CEO Laura Desmond on key topics affecting the industry.

Executives at the leading brands and agencies are trying hard to evolve their organizations and efforts to meet the increasing demands of next-generation marketing. But the steps to take are not obvious and appear to be taking longer than digital advocates hoped.

Wall Street Journal Reporter Suzanne Vranica sat down with MediaVest CEO, Laura Desmond, Tuesday at the iMedia Brand Summit to discuss how she is helping marketers navigate the intimidating but promising world of interactive media and the many number of options that now exist.

First point of conversation was budgets. Although headlines are showing some big brands like Pontiac moving onto the web in a big way, is the shift really happening, or is five percent of budgets still standard?

The shift is not here yet, said Desmond, and the tipping point probably won't happen in the next six months or even year. The reason, she said, is because buyers buy based on communication plans developed 12 to 18 months ago, and we weren't talking about digital back then the way we are now. But, we will start to see the needle move.

"It won't happen all at once," Desmond said, but rather in different types of sequencing with certain brands and certain categories leading the way.

Vranica asked what categories currently are ahead of the game.

Desmond said there are three: automotive (with GM leading in the space), movie studios and the financial services sector. Movie studios, she said, have embraced the web because they can't get the reach they used to get elsewhere anymore, while the auto makers and the financial firms have moved online for better customer acquisition-- with the web enabling them to follow a customer through the purchase cycle. It's this new way of thinking about customer acquisition that other industries must understand to make the shift online, she said.

What about the reluctance of the C-suite? asked Vranica. There was much talk at Monday's sessions about how to sell them on digital.

Desmond said there's actually great thirst and hunger at the top for innovation, as well as a recognition of a shift in media habits stemming from their own kids and grandkids. This same hunger exists among the lower ranks-- assistant brand managers, brand managers, et cetera. They've grown up with technology and expect to innovate with it. The problem actually lies in the middle, Desmond said. They are incentivized to make the numbers; not take risks.

"So the CMOs, CEOs need to turn talk into action," she said. "They have incredible power. They can take a line item and say that's my innovation budget." That's not happening much today, but Desmond said she does have some clients that are implementing that type of change.

The talk then turned to innovation itself. Vranica mentioned a big brand exec who, when asked a few years ago why he's not spending more online, said he was maxed out-- he had bought on every website he could and there wasn't anything else to do.

The issue, responded Desmond, is that marketers have looked to the online space as a scalable, easy way to build revenue. That did max out, because scalable inventory didn't engage the consumer.

"Old media is about awareness; new media is about engagement, captivation," said Desmond. "How do you captivate a consumer in a way that they not only want to stay, but they want to come back, and they're willing to give you information in exchange?"

It's that type of creative inventory where budgets need to be going, Desmond said. But getting to that point isn't without hurdles. For one, it's not scalable, and the industry has to realize that and get over it. And two, a lot of different types of skill sets are required to create and work out new ideas.

"The more we can make creativity part of the media space, and take advantage of what you need to, that's when you'll see spending take off," Desmond said

Which brought the conversation to the talent dearth. "If the industry is to survive, where do we find the talent?" asked Vranica.

Desmond said her agency implemented a strategy 12 months ago in which it seeks core media people from the traditional space who already have a disposition and lifestyle that makes them digital-friendly. "Check back in two to three years to see if it works," said Desmond.

Vranica concluded the interview by asking Desmond to create one word to describe today's marketplace. Drawing from the evolution of broadcasting, to narrowcasting, Desmond suggested: consumercasting.

Dawn Anfuso is senior editor, iMedia Connection. Read full bio.

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