Ad Agency
2024 Global Ad Spend To Grow By 4.6% And Defines A New Era Of Brand Investment Metrics [REPORT]
The latest dentsu Global Ad Spend Forecasts, covering 58 markets across the globe, shows advertising spend will expand by $33.0 billion in 2024 to reach $752.8 billion. This represents a 4.6% growth year-over-year for the ad industry – much faster than the pace seen in 2023 (+2.7% vs. 2022). However, media price inflation continues to have a significant influence on growth, with global advertising spend at constant prices projecting a 2024 increase by only 2.5%, when compared to 2023 spending.
DIGITAL ADVERTISING REACCELERATED IN 2023 MAJOR EVENTS WILL FUEL TRADITIONAL MEDIA IN 2024
The winter update of MAGNA’s “Global Ad Forecast” predicts media owners net advertising revenues (NAR) will reach $853 billion this year, growing +5.5% growth vs. 2022. 2023 ended up stronger than anticipated by MAGNA in its mid-year forecast update (June 2023: +4.6%) as second-half digital ad sales accelerated by +6.3% yoy following a weak first half (1Q23: +2%, 1H23: +4.7%) thanks to economic stabilization and easier comps.
Agency Costs: New Developments & Trends
In theory, the fees that agencies charge their clients are based upon a combination of direct labor costs, an overhead allocation, and a desired level of profit.
How Extended Payment Terms May Affect Agency Relations
A recent report from the 4A's doesn't mince words regarding the current state of payment terms between client-side marketers and their agencies. "The Ripple Effect of Extending Payment Terms" is a full-throated call to action for agencies to only accept 30-day payment terms.
Three Stages to a Successful Scoping Season
In the world of marketing, there's a critical period that both big advertisers and their agencies know all too well: the scoping season. It is the ultimate team project, where advertisers and agencies come together, ready to hash out plans and budgets for their next big campaigns.
Differences Between B2B and B2C Marketing
Marketing is a dynamic field that adapts to the unique needs and behaviors of its target audience. Two primary segments in the marketing world are Business-to-Business (B2B) and Business-to-Consumer (B2C) marketing. While both share common principles, they have distinct characteristics and strategies tailored to their respective audiences. Here are some key differences between B2B and B2C marketing and how understanding these distinctions is essential for successful marketing campaigns.
AI Can Save Time, But It’s Not Saving Advertising
By James Avery Advertising growth swells year by year, with or without artificial intelligence (AI). At face value, AI is a statistical model that predicts what will come next and like other tech innovations, it can certainly help optimize processes faster; but it won't necessarily revolutionize the advertising industry. The reliance on AI today is obvious in how quickly it has been placed on a pedestal of being a saving grace within the advertising industry.
Artificial Intelligence: Innovation in the Digital Video Era
In the ever-evolving landscape of the digital age, video production has undeniably become a foundational cornerstone of communication. Whether you're a content creator, a business, or an organization with a message to convey, video has revolutionized the way we share information and connect with audiences worldwide. But what's making this revolution even more exciting? The seamless integration of artificial intelligence (AI) into video content production. By Felix M. Mendez = Principal / Executive Producer - eContent Digital
Republica Havas Group Promotes Gus Fernandez to Executive Director and Chief Experience Officer
Republica Havas Group continues to bolster its leadership team to support ongoing growth with the promotion of Gus Fernandez to the newly created position of Executive Director and Chief Experience Officer, effective immediately.
Is the Agency Review Process Broken?
A lack of standards for agency reviews continues to hamper agency-client relations
Indicators of a Flourishing Media Agency Partnership: What to Look For [REPORT]
The partnership between an advertiser and its media agency is one of the most important in business. Get it right, and it can be truly transformational, building both long-term brand value and assets while at the same time taking advantage of short-term opportunities for sales activation. The tell-tale signs that all may not be rosy in this vital partnership feature in a new Viewpoint paper from Ebiquity, the world leader in media investment analysis.
Why we practice radical candor in providing pitch feedback
One of the great frustrations for agencies for agencies, beyond coming second is the lack of constructive feedback during and at the end of the pitch process. In my agency experience working on new business pitches, the quality of feedback was poor at best and non-existent at worst. Something that still occurs today, with the industry filled with memes on the internet of poor feedback, such as “It was so close, you came a close second”.
The Management Zoo.
Avoiding toxic people (as well as not being one!) is essential for your organization’s and team’s success. Which of these 10 types do you recognize? Welcome to the Management Zoo. By Jeroen Kraaijenbrink
Ozzie Godinez wins 2023 CLN LATINX ENTREPRENEUR AWARD
The Chicago Latino Network Awards UnGala celebrated the noteworthy achievements and work of Chicago's leading Latine leaders. From a field of prestigious nominees, PACO Collective's CEO, Ozzie Godinez, wins the CLN 2023 Latinx Entrepreneur Award.
NTERTAIN joins forces with Chemistry Cultura
NTERTAIN announced a joint venture with Chemistry Cultura, a minority-certified marketing agency with clients including Carnival, Comcast, Heineken, Microsoft and NFL (a joint client of NTERTAIN). The two companies offer disparate products and services, but combined go-to-market with a 360° offering helping brands engage the booming U.S. Latino marketplace.
The Future of Media Agency Models: Change is Coming
A new survey by WFA and MediaSense shows an overwhelming proportion of major multinational brands looking to improve their agency model with just 11% of respondents believing their current agency model fits their future needs, while 24% believe it is unfit for future purpose.
Gonzalo Del Fa named “ICON” by AD Club of New York for Hispanic Heritage Month
As President of GroupM Multicultural, Gonzalo plays a key role in all aspects of the multicultural and diverse media and marketing efforts initiated by all GroupM agencies: EssenceMediacom, Wavemaker, and Mindshare. The goal of the division is to provide clients with a truly relevant and informative point of view of diverse audiences across the US, resulting in tailored communications strategies based on in-depth knowledge of consumers.
A New Digital Age Has Begun: Are You Ready for The Fourth Wave of Advertising?
I have to admit surprise at how generative AI has so quickly grabbed everyone's attention in 2023. Clearly, AI's growing importance in advertising is undeniable, and I look forward to how it will shape our industry in the coming months and years. At the same time, we are on the cusp of an important shift that I predict will have more immediate consequences for our business.
Horacio Gavilan named “ICON” by AD Club of New York for Hispanic Heritage Month
Horacio Gavilan is a non-profit strategist and executive with more than 30 years of experience in association management. He is currently the Executive Director of the Hispanic Marketing Council (formerly Association of Hispanic Advertising Agencies), the only national trade association representing the U.S. Hispanic market ecosystem. He believes the Hispanic consumer should be at the heart of every marketer’s strategy, growth plan, media buy, and creative campaign. He advocates for responsible and intentional investment in Hispanic marketing commensurate with the enormous opportunity that the multicultural majority presents.
Agency Creativity Is Essential for Best Client Outcomes
Consultant Michael Farmer caused a bit of a stir recently in an industry Q&A. Farmer recently documented the transformation of Huge by CEO Mat Baxter in a book entitled Madison Avenue Makeover. On the heels of this, in a Q&A published by Contagious, he echoes themes from his book that takes the agency world to task for worrying more about awards than delivering performance and creating thoughtful business models.
