Zero-based productivity—Marketing: Measure, allocate, and invest marketing dollars more effectively
Taking a zero-based budgeting approach to enterprise-wide marketing costs can uncover new opportunities and spur more-informed spending decisions.
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The Obsolescence of Advertising in the Information Age [REPORT]
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 Now that the information function of most advertising is obsolete, the FTC should renew its campaign against persuasive advertising by treating all advertising beyond the minimum required to ensure that product information is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.
Making the most of marketing technology to drive growth
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.
Why A Multicultural Mindset Is A Must For Agencies
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
Audience “IDENTITY” A Primary Need For Marketers
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.
3 Things That Will Hurt Your Agency’s New Business Prospects Now
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
Advertising Trade Association Responds to U.S. Census Citizenship Question
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?”
Personalization at scale: First steps in a profitable journey to growth
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
Solving the growth challenge in consumer packaged goods
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.
CHANGE OUR STORY. CHANGE OUR OUTCOME. I’M 300% SURE OF IT.
The truth of the matter is that amidst the extreme change (with a splash of chaos) that our industry is currently experiencing, it’s our job to change the story that, in my opinion, seems to have gotten away from us. Only if WE change the story, can WE change the outcome. So what’s the story I’m hearing out in the marketplace? It depends who you ask, but for some it’s “Spanish-language media is dying.” For others, it’s “Total Market is killing our industry,” or “no one can seem to get the in-culture formula right.” To me, it’s all just negative bullshit. No one is immune to the shift the media and marketing industry is experiencing for more reasons than I can count on two hands (that’s ten fingers, folks). By David Chitel / NGL Collective
‘I Quit, I Quit!’ Boardroom Turmoil Aggravates Univision’s Problems
Clashing egos and feuds over the company’s future have engulfed the U.S.’s largest Spanish-language broadcasting outlet, according to The Wall Street Journal. Is Univision, the company that Jerry Perenchio built with $400 Million and sold for $13 Billion crumbling? By Gene Bryan / HispanicAD
The future has yet to be written, but the ending could be brilliant
An overt degree of speculation surrounds the future state of our industry. To me, what’s coming is not such a mystery. The future of marketing and advertising will be increasingly personalized, tech-enabled and data-enhanced. Consumers will continue to choose what they consume and brands will continue to try and influence what consumers choose to consume.
Radio Receivers: Diverse Audiences Lead the Way [REPORT]
Audio plays an important role in the daily lives of hundreds of millions of Americans, and the listening audience of radio is as diverse and varied as the fabric of the American melting pot itself. In fact, radio is America’s top weekly reach platform, both overall and with Black and Hispanic consumers; 75 million of whom tune in each week. In the first quarter of 2018, the radio reached 92% of Black consumers each week and 96% of Hispanic consumers.
Ogilvy’s rebrand reveals an ad industry in confusion
Agencies, like brands, need consistency. Agencies used to have access to the C-suite within brands but that’s no longer the case. It’s time for agency leaders to step up and rebuild agency C-suite relevance again. By Thomas Barta
We need human insights not just data insights
The data reflects the world people know and experience today. Patterns in that data may reveal opportunities for optimization, better steering behaviors in favor of a specific brand, but are unlikely to reveal opportunities for disruptive growth. by Nigel Hollis
Marketers Are Split on How They Define In-Housing
The survey indicates that marketers are not always on the same page when they discuss in-housing. This may be why studies on the subject show such varying results.
The most perfect union: Unlocking the next wave of growth by unifying creativity and analytics
Companies that harness creativity and data in tandem have growth rates twice as high as companies that don’t. Here’s how they do it.
Product Purchasing Habits of U.S. Hispanic Shoppers [REPORT]
The Hispanic community is the fastest-growing ethnic group in the nation and spends more than $94.7 billion on CPG products annually. Because Hispanics are one of the most sought-after ethnic groups in the retail grocery market, IRI is diving deeper into last year’s most successful CPG launches to better understand Hispanics and New Product Pacesetters.
GEN Z Rising [REPORT]
As the first crop of Gen Z talent joins the future workforce, new grads hold traditional work values with a digital spin. For the first time in years, there is an uptick in the number of new college graduates wanting to work for large companies. They are willing to commit and ready to roll up their sleeves. In return they want an engaging employee experience that takes full advantage of their degree, including the digital skills they bring to the table.
The Nielsen CMO Report 2018 [REPORT]
Across nearly all business verticals, marketers reported large shifts in how they evaluate, measure and budget across media channels. CMOs made it clear that it’s not more data they’re looking for, rather better insight.
