In theory the application of zero-based budgeting to marketing ought to be a good thing: no more budgets based on historical spending and funds allocated between options based on current performance. What is not to like? How about the fact that there is often a huge divide between theory and practice? by Nigel Hollis
With major issues in the headlines affecting the multicultural community, there is no shortage of information sharing and social activism—both with in-person protests and social media fundraising. For example, according to the Washington Post, one in five Americans have protested in the streets or participated in political rallies since the beginning of 2016. Of those, 19 percent said they had never before joined a march or a political gathering. By: CMC Research Chair Nancy Tellet
Radio is America’s top weekly reach platform, both overall and with Black and Hispanic consumers—75 million of whom tune in each week. This Audio Today report profiles those audiences, their listening preferences, technology trends, and the unique value they offer to advertisers with a “sound strategy.”
The report is an in-depth look at topics of interest for the second largest generation group in the U.S. and a major player in the marketing world.
The first rule of “Culture Club” is that we always talk about “Culture Club!” No, we’re not talking about rock bands, music videos or cult movies. “Culture Club” refers to any platform, digital or traditional with in-culture specific content for a multicultural segment. Whether it’s a specific site, app or even in-culture content in “mainstream” places, it’s this in-culture digital content that is hitting homeruns out of the park among multicultural consumers! Digital Lives 2018, a study by the Culture Marketing Council: The Voice of Hispanic Marketing (CMC) found that culture drives digital behavior across all multicultural segments, but even authentically diverse ads done correctly in the mainstream can increase engagement with multicultural and some millennial non-Hispanic whites (NHW)! By Nancy Tellet – CMC Research Chair
Marketer optimism in the overall economy dipped slightly. The same holds true when comparing to the previous quarter. Superior product quality and customer service remain the top two overall customer priorities. In general, product company customers prioritize quality and innovation while service company customers prioritize trusting relationships.
The advent of digital advertising forever changed how media is bought and sold, with advances in programmatic technology leading the way. The appeal of programmatic buying is easy to see, addressing many of the challenges associated with traditional ad sales. To name just a few of the staple ways in which programmatic technology improves advertising transactions, it lets buyers use audience data for targeting; grants access to premium but often challenging-to-buy inventory; and automates complex buying workflows.
The year is 2024, and more than 50 percent of American product purchases are made through e-commerce thanks in part to the rise of “app-tapping” (waving your phone to purchase a product) and speak-to-purchase ads that merge TV and streaming content with in-home digital assistants. Video games and social media are as popular as ever, though more and more people prefer to hang out in virtual-reality “PlaceScapes,” where savvy marketers are starting to invest. The process once known as advertising is nearly unrecognizable as companies rely on artificial intelligence to disseminate targeted ads based on billions of data inputs, though tougher privacy laws and the proliferation of ad blockers continue to pose challenges. By Chuck Kapelke
The Latino Donor Collaborative (LDC) released Latino Gross Domestic Product Report: Quantifying the Impact of American Hispanic Economic Growth, a study that for the first time ever calculates the full Gross Domestic Product (GDP) of the American Latino population. At $2.13 trillion, the estimated U.S. Latino GDP is the seventh largest GDP in the world, with American Latinos driving growth of the U.S. workforce and economy.
Technology is transforming Latinx consumer behavior, from shopping to communication and media consumption, according to Descubrimiento Digital: The Online Lives of Latinx Consumers, released by Nielsen. The majority (60%) of Latinx consumers were either born or grew up in the internet age, compared to 40% of non-Hispanic Whites. This means today’s Hispanic consumers didn’t transition to the internet; they were raised with it.
Once every 10 years, the U.S. Census Bureau undertakes a gargantuan task, one that the founding fathers of the United States considered so important they mandated it as part of the Constitution. The decennial census exists to compile an accurate count of every person living in the U.S. and to record basic demographic data such as age, sex, and race. Its primary purpose is to serve as an underpinning for the country’s representative democracy, making sure each community gets the right number of representatives in Congress and that public funds are equitably distributed. By Michael J. McDermott
Taking a zero-based budgeting approach to enterprise-wide marketing costs can uncover new opportunities and spur more-informed spending decisions.
The vast amount of product information available to consumers through online search renders most advertising obsolete as a tool for conveying product information. Advertising remains useful to firms only as a tool for persuading consumers to purchase advertised products. In the mid-twentieth century, courts applying the antitrust laws held that such persuasive advertising is anticompetitive and harmful to consumers, but the Federal Trade Commission (FTC) was unable to pursue an antitrust campaign against persuasive advertising for fear of depriving consumers of advertising’s information value. Now that the information function of most advertising is obsolete, the FTC should renew its campaign against persuasive advertising by treating all advertising beyond the minimum required to ensure that product information is available to online searchers as monopolization in violation of section 2 of the Sherman Act.
As marketing technology, or martech, becomes more sophisticated, companies are finding they can accelerate and optimize everything from basic commercial functions like e-commerce conversion to more complex ones, such as managing multi-dimensional customer relationships across multiple channels. In this interview, Scott Brinker, VP, Platform Ecosystems, at HubSpot, and Jason Heller, a McKinsey partner leading our Digital Marketing Operations and Technology service line, share their insights on the evolving world of martech with McKinsey’s Barr Seitz.
In marketing, it’s important to keep pace with demographic change. Even better to stay ahead. Right now, for instance, significant changes in the U.S. cultural landscape have made multicultural marketing imperative. By Mario X. Carrasco is Co-Founder and Principal of ThinkNow Research
Determining audience “identity” has become a major priority over the past year for U.S. marketers, many of whom plan to increase their investment in finding and developing identity solutions.
In 2018, it’s a given that agencies must be able to connect their creative excellence to data and technology. Picking up where that post left off, I want to cover the top three things that will hurt your agency’s prospects for new business now. My list includes the top concerns and challenges we see coming up repeatedly for agencies. By Mark Duval / Duval Partnership
The major trade associations representing the advertising industry — are jointly writing to express opposition to the addition of the new census question that asks, “Is this person a citizen of the United States?”
Personalized communication with every customer is the future of marketing. McKinsey partners Julien Boudet and Kai Vollhardt say it’s easier than many marketers think, if you begin with the data you have. By Julien Boudet and Kai Vollhardt
The magnitude and pace of change in the US market have undermined traditional growth models for many consumer-packaged-goods companies, especially larger ones. Companies need to combine greater agility with new types of scale advantage to compete more effectively.
