Successful Marketing Spend Management: It Takes a Village
March 16, 2023
By Cliff Campeau
“Half the money I spend on advertising is wasted; the trouble is, I don’t know which half,” John Wanamaker, American merchant, is quoted as saying.
More than one hundred years have passed since Mr. Wanamaker shared this perspective on his firm’s advertising investment and his words are as true today as they were when he uttered them in 1919. One could rightly argue that the accelerating rate of change, the dizzying array of message delivery choices, advances in technology, the growth in ad fraud, and an increase in regulatory oversight have only further complicated the challenge of optimizing marketing and advertising spend.
Perhaps the biggest challenge posed to marketers is the evolution from full-service ad agency partners to the use of multiple specialist service providers engaged by most organizations. Long gone are the days when a single agency worked in tandem with an organization’s marketing team to develop strategy, craft content, and deliver messaging to target audiences.
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Courtesy of the Association of National Advertisers
