Operational skill used to confer long-term advantage. If you had leaner manufacturing, made higher-quality products, or had superior distribution, you could outrun competitors. But today those capabilities are table stakes. The new source of competitive advantage is customer centricity: deeply understanding your customers’ needs and fulfilling them better than anyone else.
In the last two weeks, NBC’s Rio Olympics has garnered nearly half of the total national TV revenue of many top ad categories.
For many companies, cost reduction efforts become an endless downward spiral. As soon as one cost reduction program is completed, it’s followed by another. Competitors become locked in a race to the bottom, as price reductions predicated on cost reductions are countered by more cost-cutting from competitors to drive another round of price declines. Before you know it, the industry has shrunk and retailers, manufacturers and consumers alike all lose out on greater growth and access to greater innovation. By Jason Green, CEO, The Cambridge Group, and Dan Vucovich, former SVP, President U.S.,
The Hershey Co.
The world of marketing at enterprise companies is both exciting and challenging – there are many decisions to make and options available when it comes to which marketing channels to prioritize, which technology platforms to utilize, and when to hire an agency for support.
At the beginning of 2016, marketing professionals made a variety of predictions (link is external) about the future of digital marketing. Some of the most notable forecasts pointed to the increasing importance of data collection, video advertising, virtual reality, and live streaming.
These are turbulent times for marketers. The digital revolution is transforming the consumption of media. People under 35 watch as much video content as their parents do, but less than half of it is live television. In the United States, more than a third of all video content is now viewed online, much of it on mobile devices. Millennials spend 15 hours a week on their smartphones, and 89 percent check their work email outside of normal working hours. They are likely to trust the views of their peers and social-network connections over those of media professionals. By Cody Butt / McKinsey & Company.
The pace of change in marketing and the marketplace continues to accelerate. Unicorn companies are challenging long-established brands, and categories are being re-imagined. Upstarts question the safety of ingredients, the integrity of the supply chain, and the sanctity of long-held business models. Consumers have new expectations of brands, with 62 percent saying they refuse to buy a brand if it fails to meet its obligations to society. By Richard Edelman- President and CEO / Edelman
Becoming a great client for agencies is not easy, but it is necessary. It’s no coincidence that successful brands are known to be great clients. By Bruno Gralpois, ANA Faculty
Media is the largest marketing expenditure at many companies and, simply stated, advertisers should be responsible for assuming greater internal stewardship of their media investments. By Bill Duggan, Group EVP, ANA
The threshold of having a successful engagement with consumers on social media is constantly on the rise. Like for most things, there is no correct way to approach this task however, it is important to keep some key principles in mind such as: having a grasp of consumer insights, being fluent in Internet culture, staying true to the brand and being tech savvy.
Based on the importance and frequency of agency reviews, we created a short survey for client leaders in marketing and procurement and agency leaders to give a sounding board for what’s good and less good in the new business process.
Hispanic Americans are by far the fastest growing target audience in the U.S. Do you know how to reach them? Do you know their motivating factors and purchase habits? Or which types of content work best in connecting with this audience?
Marketers should require media agencies to be fully transparent to elevate trust and restore confidence in the client/agency partnership, according to a wide-ranging set of recommendations released \ by the ANA (Association of National Advertisers) and Ebiquity/FirmDecisions. A key recommendation was that clients require their agencies to disclose all potential conflicts of interest and allow thorough audits of the agency, its parent company, affiliates, and subsidiaries to ensure full transparency and contract compliance.
Have you ever heard an acronym but you didn’t know what it meant? It can really throw you off your game in a conversation. I usually try to write it down discreetly or, if I have a laptop, look it up online without anyone seeing. But industry-specific acronyms can have multiple meanings, and sometimes Wikipedia doesn’t do them justice.
As the ANA report generates increased discussion in the industry, and it will, those debates will also drive more transparency. The discussion is important – and it should be leveraged to put steps in place to help organizations get the most from their media investments.
The Council for Research Excellence (CRE) tunveiled findings from a new platform usage study that shows TV outperforming computer, smartphone and tablet in viewer ad attention and recall.
While digital marketing technologies and engagement channels multiply, many marketers remain concerned that they are still not delivering what customers want most: a seamless, frictionless and individualized buying and problem-solving experience.
Surprisingly, those least likely to have a long American heritage are the ones who have the strongest American pride. In fact, white millennials have the lowest levels of pride compared with other ethnic groups within the generation.
My conclusion is that Cannes is an ad festival by tradition only anymore. What it has turned into is a tech-deal-makers meet, agency-deal-makers swap meet. Don’t get me wrong. Deal-making is really important. And to have a large number of buyers, sellers and middle men in one place is convenient, allowing for meeting after meeting after meeting in search of a deal. But it has very little to do anymore with celebrating great creative work.
Compared with the rest of the world, Americans are feeling pretty good about their finances. While many consumers in other countries are living paycheck to paycheck and worrying about becoming unemployed, American consumers are comparatively unconcerned about their household’s financial future. This isn’t to say that US consumers are exuding confidence: financial-market volatility and the political uncertainty surrounding the upcoming presidential election are stoking fears of another downturn. By Max Magni, Anne Martinez, and Rukhshana Motiwala
