Below is a nice summary of drug advertising trends. Spending is up 60% on paid media in the last 4 years, but cable TV is up more than 200% due to efficiency in hitting targeted, older audiences quickly and efficiently. The often discussed decline of TV viewership is slow and is more applicable to younger population segments.
Drug Advertising Trends March 2016
Read more →Interesting data from SheKnows media published by Fast Company magazine. 86% of women trust real endorsements on social media over obviously paid celebrities. Social proof and video is getting increasingly important to close the sale.
Female shoppers don’t trust celebrity endorsers
Read more →Interesting post by Shelly Palmer about the pace of technological advancement and the impact on white collar work. In the next century, we’ll see the equivalent of 20,000 years of advancement. So, marketing and advertising executives need to be ready for the new skills required in the next 3-5 years. The job requirement of the future will be mastery of marketing strategy + creativity and vision to use the new tools that will be able do most of the executional tasks of today.
What will you do after white collar work? – SP
Read more →This New York Times article outlines how Hollywood’s more efficient, technology driven model for doing business will be adopted by all companies in the future. A short-term, well-defined, project-based structure of experts needed for a specific job seamlessly produce high quality films and shows with the lowest possible cost. This is the future for businesses and also the current 183 model of operation. The opposite of the long-term, open-ended retainer-based model of some large agencies.
What Hollywood can teach us – NYT
Read more →This Forbes article based on a study of CMO’s from Adivan Research is yet another data point showing that the old model of AOR is not cutting anymore. Read the article and see if you have the same frustrations as most CMO’s. Ready for something different?
Read more →FINALLY!! According to “The Economist,” marketing will increasingly be seen as more of a source of revenue. The proportion of companies where marketing is viewed as a cost center will dwindle and the number where it is seen as a driver of revenue will grow. In three to five years, approximately four of five companies will classify the marketing function as a revenue driver. Keys to success are integrating digital marketing, better metrics, especially around customer engagement. Budget meetings are looking better!
http://futureofmarketing.eiu.com/briefing/EIU_MARKETO_Marketer_WEB.pdf
Read more →It’s easy to get caught up in the business treadmill. This article is a great reminder of the big picture. We’re in more control of our destiny/joy than we think sometimes.
http://www.theguardian.com/lifeandstyle/2012/feb/01/top-five-regrets-of-the-dying
Read more →Does massive “scale” help clients in an idea and people-based industry or does it just make these two CEOs even more wealthy? Many observers would say the benefit is only to the agencies. In this article from The Guardian, the author outlines the negative impact on competition and creativity resulting from the Publicis/Omnicom merger.
http://adage.com/article/agency-news/ipg-s-roth-publicis-omnicom-merger-bigger/243362/
Read more →Big agencies handle the majority of advertising dollars, but they don’t articulate a better value proposition to clients, and 73% of the panel believes that small and medium size agencies are more creative. The advertising holding companies fair even worse, and 85% think that they have not improved service to clients, and view them as inefficient and unable to overcome internal territorial disputes.
Read more →
New research from IPSOS reinforces the growing trend toward usage of smaller devices. 82% of consumers use a mobile phone, 66% use laptops (now higher than desktop usage) and 17% use tablets. Marketers must make sure their online campaigns are reaching this audience and their landing pages/web sites are optimized for these devices.
Read more →