Business

Media is viewed as a complex headache by advertisers who are failing to provide leadership in this critical investment area, according to a new report from media change consultants ID Comms.

Once upon a time, “stores” were buildings made of bricks and mortar that sold an inventory of a few thousand products during regular business hours. The digital revolution changed all that: e-commerce retailers created web shops that were open 24 hours a day, seven days a week.

News that the Department of Justice is investigating “bid rigging” by ad agencies to favor in-house agency facilities highlights how competitive bidding works in the world of advertising and exposes a problematic industry practice, one that undermines the trust between agencies, clients and vendors.  By Alex Blum

If media is to change in 2017 then the way it’s assessed also needs to change. That means better, more relevant metrics, measures that reflect how media can add value to a brand and drive business success.

By Gonzalo López Martí – Creative director, etc. / LMMiami.com

• Absent a steady influx of walled out Mexicans and island bound Cubans, where will growth come from for US-based Spanish-speaking media outlets?

What do my customers want? The savviest executives are asking this question more frequently than ever, and rightly so. Leading companies understand that they are in the customer-experience business, and they understand that how an organization delivers for customers is beginning to be as important as what it delivers.

Madison Avenue Manslaughter outlines the hows and whys of steadily declining fees, increased workloads, diminishing industry perception and morale, kickback scandals and opacity characterizing relationships among advertisers, holding companies, media buying companies and creative ad agencies.

Growth ambitions and the pace of change are high in an uncertain market. Defensive strategies being implemented by chief financial officers are demanding rapid and sustained cost reduction from procurement. Driven by a lack of talent and increasing digital innovation, the traditional procurement operating model has to change.

It’s not unusual for careers to get off to wobbly starts as young people, hampered by their lack of experience and contacts, find it difficult to achieve a firm footing.

As retailers begin to expand beyond geographic boundaries, they also face pressure from consumers to “keep it local.”  Balancing globalization with localization has quickly become a priority for retailers looking to connect with their customers both in home markets and abroad.

Traditionally, brands have the option of either cutting cost or putting up prices to boost margins are deciding to go for a more premium positioning.

If one were to equate the difference between the 4As and the ANA — the two associations which govern the ad/media agency and brand marketer communities respectively — to the differences between the Confederacy and Union states, the case for, or against, transparency should become abundantly clear.  By David Smith and Tim McHale

An in-depth analysis of the current state of media ROI analysis has found that while progress has been made toward development of methods that enable near real-time cross-platform attribution and ROI analysis, much work still needs to be done and few viable integrated systems for looking at consumer behavior cross-platform are yet available.

The report describes how companies presently must sift through the promotional noise and hyperbole surrounding emerging technologies to find those solutions offering real potential. To realize that potential, they should become “kinetic” organizations — companies with the dexterity and vision required to thrive amid ongoing technology-fueled disruption.

The National Hispanic Corporate Council (NHCC) announced the passing of its former President and CEO, Carlos Soto Quiñones who passed away on Saturday, February 18th. Carlos had served as the NHCC’s President and CEO from 2000 to 2009. Prior to being named to the President/ CEO role, Carlos also served on the NHCC Board of Directors representing Coors Brewing Company.
National Hispanic Corporate Council (NHCC).

By Gonzalo López Martí – Creative director, etc. / LMMiami.com

• The new POTUS has pulled a massive electoral win depicting Hispanics as a threat to the American way of life.
• The Dems, after betting big on our support, have come to the realization that we are politically irrelevant.
• Did I say irrelevant?
• I meant to say toxic.
• Obama’s last minute courtesy -ending the “dry foot wet foot” policy- did away with the only remaining stream of Spanish-speaking documented immigration.

Jim Baral has joined Transit Media Group as partner and President, a subsidiary of M&M Group Entertainment, offering entertainment and talent for arenas, casinos, fairs and festivals.

Leticia Mijes has joined Colonial Savings, F.A. in the newly created position of Multicultural Market Manager.

With the rapid growth of multicultural households in America and their unparalleled influence on the marketplace, there is a strong need for retailers to revise their in-store strategies to include a wider range of fresh food products and flavor profiles that cater to the multicultural consumer set. 

Despite all the progress women have made in business, they are still reaching top leadership positions at a significantly lower rate than men. They have the same education, skills, and qualifications as men to get ahead, so what’s going wrong?