MediAvataar's News Desk
CMO Council Strategic Brief Reveals Only 5% of Marketers Report More Confidence In Ad/Media Agencies; 72% Will Seek New Partners To Better Exploit Data & Digital
Marketers are looking well beyond their traditional advertising agency base for domain experts to drive marketing performance and handle exploding data, digital migration, channel fragmentation, and a more diverse, multi-cultural consumer base.
A new strategic report from the Chief Marketing Officer (CMO) Council and Ebiquity – entitled “The Path Forward: Marketing’s Outlook Into The Digital Future” – suggests that as budgets increase to fund digital marketing campaigns and more personalized customer engagement, marketers now need additional expertise in data analytics, content creation and channel proliferation to improve ROI.
According to research from the CMO Council, based on a survey of 276 marketers in the first half of the year, there’s a new focus on finding high performance marketing partners with specialized knowledge and business acumen. An overwhelming 83 percent of clients surveyed are looking for unique skill sets and specialized capabilities not found in most ad agencies, or media buying firms.
When asked to identify who marketers consider to be part of their marketing performance partner group, few (if any) traditional holding companies, advertising firms or media agencies made the list. Marketers are instead looking more to solution providers (once only seen as sources to enable technology and automation platforms) as their go-to sources for performance improvements and solution partners to tackle the biggest challenges facing marketing today
When it comes to the marketing organization’s ability to address critical marketing challenges in 2015, survey respondents gave negative reviews in three essential areas. These included:
· Managing the data explosion (only 30 percent said well or very well)
· Analyzing data to create personalized experiences (just 29 percent said well or very well)
· Overcoming financial restraint and demonstrating ROI (less than 40 percent said well or very well)
While 60 percent of survey respondents are spending more than $10 million annually on media buys, only five percent of participants say they are much more confident in their media or agency partner’s performance. In fact, marketers are looking to apply far more stringent and taxing ROI thresholds on their media and agency partners to maximize return. One marketing leader shared that as digital evolves they must ensure that return on investment and return on advertising investment are held to higher standards.
“Our agencies and partners are absolutely different than they were even one year ago,” commented one marketing leader. “We have tripled our digital budgets compared to two years ago, so we are working to protect that. Our greatest areas of investment today are actually going to build our digital infrastructure and our talent, so the agencies and partners we have now must be different as we look to address things like data and shopper behaviors.”
“What this brings to the surface is an even more heightened need to get the highest levels of performance and output—not just from the marketing organization, but also from the external agencies and marketing performance partners employed by the organization,” explained Liz Miller, Senior Vice President of Marketing at the CMO Council. “CMOs are frustrated by a lack of visibility into partner performance, questioning everything from budgets to the realities of click fraud and paybacks.”
“Marketing is at a crossroads, and now is the time for agency partners to work even harder to meet the expectation for performance and creativity,” said Nick Manning, Chief Strategy Officer for Ebiquity, a leading marketing analytics specialist. “This has created an interesting phenomenon of global marketers placing their old agency accounts up for review – calling everything from performance to contract structure into question. Marketers recognize that the world has changed, and they’re looking for partners who can unlock the new communications landscape in all its manifestations while being responsible, professional business partners. Now is the time for agency partners to give marketers exactly what they want…and what the customer needs.”
Swati Bhattacharya will be seated as one of the esteemed Jury members at the Clio Awards’ 2015 edition that will be held in Spain next week. She will be representing Dentsu Mama Lab and will be on the judging panel for the ‘Innovative and Integrated Campaign’ category. It is pertinent to note here that she is the only Indian who will be judging Clio Awards this year.
Swati, head, Dentsu Mama Lab, is a writer whose work focuses on gender, feminism, urban life, love and popular culture and spans many forms including advertising, documentary, short films and blogs. Her writing has been published in everything from national newspapers to viral content sites on the internet. Starting life as a junior copy trainee in JWT... she moved on to become the national creative director before leaving her first job.
She joined Dentsu in November last year to set up Mama Lab in India. Her first film, ‘Belle De Jour’ has won the Spikes Gold and the second film, ‘Double Shift’ has been featured in the Vancouver Film Festival and Miami Shorts. ‘Double Shift’ has also won the best short film at the Kolkata International Short Film festival and the prestigious Dadasaheb Phalke award for best screenplay.
As the digital age fuels a massive change across our country, CNN-IBN is all set to take the leap with its flagship initiative, The Citizen Journalist Show that will now be seen as CJ+, the common man’s fight against injustice in an all-new, digital and social media powered format.
Starting 1st August, 2015, CJ+ will hit the screens in an all new-avatar, set to connect with its viewers digitally. With this new format, CNN-IBN will expand its platform for the common man to voice his thoughts and concerns, through easily accessible digital tools.
Although, the story ideas and storytelling that builds on the CJ Show’s rich legacy and authenticity in the reportage world remain intact, this time the show will push boundaries, and will use discrete social media platforms like video blogs, Facebook, Twitter, Instagram, Hangouts and Skype to enhance its story telling techniques. To complement the show, a refreshed website will also be launched, further enriching audience experience.
Speaking about the show, Mr. Radhakrishnan Nair, Managing Editor, CNN-IBN, said, “The whole objective behind CJ+ is to empower the audience and give them a bigger stage to participate in the whole news gathering system and fight for their rights. We are grateful to work on such an innovative program and hope that we continue receiving an overwhelming response from the audience.”
Don’t miss CJ+ starting from 1st Aug, 2015, every Saturday at 1:30 PM & 9:30 PM and on Sunday at 5:30 PM & 10:30 PM, exclusively on CNN-IBN.
Discovery Turbo presents a new series that charts the history and origin of underground racing in IDRIS ELBA: KING OF SPEED. In the series, Idris Elba, award-winning British actor will examine how the quest for high speed has affected modern motorsport and the cars of today.
IDRIS ELBA: KING OF SPEED will premiere on August 3 and will air Monday-Saturday at 9 pm on Discovery Turbo.
Charting the colourful origins and secret history of how speed changed the cars we drive, Idris will examine the racing scene around the world. The series will take him from his door step in Hackney, East London to the racetracks of America via the Scottish Highlands and the Arctic plains of Finland. As he travels around the world, he will reveal the unexplored political, social and historical circumstances connecting the early stories of speed from the American prohibition era, through to our modern day driving culture.
Idris will also examine the history of the rallying Mini and get to grips with the combination of technology and skill involved in driving at a professional level. He will discover the underground driving craze of drifting, which began in Japan and has become the fastest growing motorsport in Europe, and changed the way Europeans race.
Under the guidance of Britain’s ‘girl racer’ Louise Cook, Idris will improve his rally driving skills, and rally a Metro 6R4 – an off roader so powerful it was banned for being too dangerous.
Idris then fulfils a personal ambition as he gets behind the wheel of a full-spec rally car and takes on a genuine Finnish rally course, with help from champion Finnish rally driver, Ari Vatanen.
IDRIS ELBA: KING OF SPEED promises to be an incredible series packed with thrills and unexpected history. It’s time to buckle up as Idris Elba gets behind the wheel only on Discovery Turbo.
The way we view the economy and what’s in our wallets can have a direct impact on our willingness to spend and save. As such, it’s no surprise that changes in consumer confidence can influence the actions consumers say they take to save on household expenses. In the second quarter, as global consumer confidence declined one index point to a score of 96, saving strategies continued to permeate the mindset of consumers around the world.
“Even as sentiment about consumers’ own personal situations has risen in recent years, there is still a widespread concern among consumers about recession,” said Louise Keely, senior vice president, Nielsen, and president, The Demand Institute. “In fact, six years after the official end of the Great Recession, more than half (54%) of global respondents still believe their country is in recession. So while global consumer confidence has been rising slowly to reach near optimistic levels in the past year, there is still evidence that consumers feel uncertain about their countries’ futures. Retail sales activity has been slower to respond, reflecting that lingering uncertainty.”
Anemic consumer spending levels are reflective of the fact that nearly two-thirds (65%) of consumers around the world are in a saving—rather than a spending—mindset. This cautionary outlook is most prevalent in Latin America (79%), followed by Middle East/Africa (69%), Asia-Pacific (66%), North America (59%) and Europe (58%), as more than half of respondents in these regions say they are actively taking action to save on household expenses compared with a year ago.
While saving strategies differ across regions, there are some common practices globally. Among those who say they are taking actions to save, spending on clothing and out-of-home entertainment costs are the top two areas earmarked for reduced spending. Cutting back on gas and electricity costs, along with spending less on take-out meals and switching to cheaper grocery brands, are other top saving priorities. Expenses that affect transportation, annual holidays/vacations, at-home entertainment and the replacement of major household appliances are somewhat more protected.