This week the Interactive Advertising Bureau is having its annual meeting. During his keynote, new IAB Chairman Vivek Shah came out with both guns blazing, telling media buyers to stop
devaluing digital media by allowing themselves to be defrauded because it looks good on paper. He went on to say: "We have taken a perfect product and by our own actions we have made it imperfect.
It's been a dirty secret we've been willing to keep. Bogus impressions won't infect the system if you don’t buy them, Mr. Agency Trading Desk ... You don’t go after drug dealers. You go
after people taking the drugs." Hmm. Looks like there may some housecleaning going on over the course of the next year or two.
Watch out, Boston ad agencies. Devito/Verdi is about to eat your lunch. The New York agency has quietly made significant inroads into the very insular Boston ad community. It scooped up Legal Sea Foods and then the Herb Chambers car dealer account because Chambers loved the Legal Sea Foods account so much. And just last fall, the agency nabbed a branding project for area health insurer Fallon Health. While Ellis Verdi says he didn't target Boston specifically, he is considering plans to open a Boston office. Watch your back, Boston.
There's something going on over at Ford's ad agency Team Detroit. According to COO Mark LaNeve, the agency is "becoming digital centric" but apparently, it's more than just a focus on digital media. LaNeve adds: "It's not an initiative or program, but an evolution bordering on a transformation of the agency." While that must sound like the usual fluff you hear from agency big wigs, in this case, the proof, as they say, is in the pudding. According to Advertising Age's 100 Leading National Advertisers, in 2011 Ford became the first automaker to spend more on unmeasured (search, online, social, digital, etc.) than it does on traditional media. Currently, the brand spends upwards of $1.2 billion on unmeasured media, and Team Detroit played a large part in that shift.
Yes, I know. There are too may CxO titles floating around the business world but that shouldn't detract from the fact that people promoted to these newly created positions don't deserve to be
there. And Tamara Ingram is one such person.
Over the years, Ingram has served as UK WPP Group CEO for Grey Worldwide as well as CEO of WPP's Team Procter & Gamble. Before Grey, she was president of WPP's Kantar, parent to Henley Center, Added Value and Fusion5. And before that she was CEO of Saatchi & Saatchi and McCann-Erikson in the UK.
As well as taking on new responsibilities overseeing the holding company's global accounts, Ingram will continue as CEO of Team P&G across WPP's network, and will remain based at Grey's New York HQ.
Of Ingram's appointment, WPP CEO Martin Sorrell said, "There are few people who understand the requirements of global client management better than Tamara."
Media planning software provider Telmar has named former Arbitron, Simmons, Traffic Audit Bureau and TNS exec Anna Fountas to the position of President of the Americas. Fountas will lead
Telmar’s sales and client service organization in the U.S., Canada and South America to further expand usage of its core media planning system as well as applications for emerging media and data
On joining Telmar, Fountas said: “Media planning software is more important than ever. Every day advertisers get more options, complexity, data and urgency to contend with. Advertising depends utterly on targeting, and targeting relies increasingly on data synthesis. Nothing performs like Telmar. I’m excited to have the opportunity to extend Telmar’s lead in performance and move the advertising business forward by increasing the number of planners with real-time capability.”
Over the years, Fountas has introduced media research standards and advanced the state of the art for providers as well as associations. As president of the Traffic Audit Bureau, Fountas helped modernize the out-of-home measurement system. As president for syndicated studies at Simmons, she helped create the strategy for Hispanic measurement services. Earlier, as svp/sales and marketing/advertiser/agency services at Arbitron, she led the team that developed the first PC-based ad expenditure application for advertising data. She also ran sales and marketing for the TNS AdScope service, research for the Digital Place-Based Advertising Association (DPAA), and media information services for ad agency Campbell-Ewald.
It's not a surprise that many brands are shifting their marketing budgets away from traditional media and toward digital media but the financial segment is set to experience big shifts over
the next four years according to recent eMarketer research.
The researcher forecasts an 11.7% compound annual growth rate between 2014 and 2019 for the financial sector, resulting in a $10 billion annual digital ad spend. According to Kantar Media, between 2013 and 2014 alone, television spending (across all sectors) dropped 4.7% from $3.4 billion to $3.2 billion, while online spend increased 20.4% from $2.4 billion to $2.9 billion.
Dramatic spending drops were seen in magazine (down 7.3%), radio (down 10.9%) and outdoor (down 11.4%).
In terms of spending objectives, eMarketer forecasts that the financial sector will allocate 62% of budget (or $4.46 billion) to direct response and 38% of budget (or $2.73 billion) to branding by the end of 2015.
Search will dominate paid media spending for the financial sector in 2015, representing $3.40 billion or 47.3% of U.S. financial services total digital ad spending. eMarketer estimates that paid digital display will closely follow, with $3.02 billion of the financial sector’s budgets projected to flow to the category by the end of the year.
Mobile is also an active area for financial brands. According to eMarketer, mobile advertising for the sector is expected to hit $3.49 billion by the end of 2015 in comparison to $3.7 billion spent on desktop.
Social media has also seen significant spending increases, with financial brands increasing the share of budget to 8.8% in 2015, up from 5.9% in 2014 according to Duke University's Fuqua School of Business.
Recently, there's been increased debate surrounding the open office concept and its effect on productivity. Various articles and studies have pointed out that it may not be as productive a work
environment as old-school offices with walls and doors. Some posit that the concept fosters the creative spirit. Others posit that the concept fosters distraction and anxiety.
While many agencies have gone open concept, one is publicly proclaiming its love for the concept in an open letter published in Ad Age. Penned by SS+K Partner and Chief Creative Officer Bobby Hershfield, the letter reads like a "facts be damned" opinion piece which, truth be told, is perhaps all well and good. After all, what works for some, doesn't work for others.
In the letter, Hershfield thumbs his nose at stats highlighting the downside of the open office concept and touts the concept's benefits as he sees them. He writes: “We don't rely on email so much. We talk. Email follows up a conversation instead of initiating one, or even worse, substituting for one. We don't just share ideas. We wad them up and toss them at each other, blurt them out, interrupt and criticize and applaud them. We talk more. Walk around. Offer suggestions enroute to the bathroom. We don't hide in our offices. We don't hide behind walls. We are exposed and sometimes that fear puts pressure on us to be better in every aspect of our job."
He finishes, writing: "We are happier. We are less complacent. Less bored. We are stimulated. And we are getting to know one another better, which makes a culture that really is only about people and [making] ideas stronger."
There never will be an answer to this conundrum mostly because everyone has a different work style. Some love the thrill of constant interaction and lobbing ideas back and forth while eating their lunch and walking on their standing treadmill desk. Others love to cocoon themselves and let prior interactions gestate into well-formed ideas which are then shared to a larger group. To each their own, I guess.
David Murdico, creative director and managing partner of Supercool Creative Agency puts forth a solid argument as to why startups should pay agencies more than brands do for the same work.
First of all, he notes a startup is an unknown entity and no one has ever heard of it before making it all the more difficult to create the necessary marketing program to achieve awareness and sale. He notes startups are generally more demanding than established brand marketers, often times because so much is at stake.
Perhaps the biggest problem area when it comes to crafting marketing for a startup is that up until the point the startup reached out to an agency, everything about the startup has, thus far, operated in an echo chamber with scant few nodding and bobbing their heads in agreement without truly vetting the idea or how the idea will be perceived in the real world.
Another challenge when working with a startup? They tend to change their mind a lot about, well, everything. And that can be a gigantic time suck. Check out Murdico's entire list here and file it away in your back pocket for use the next time you consider working with a startup.
This is gold! Gold, I tell you! And it's arrived just in time. As we all mourn the loss of our beloved Mad Men characters, they have been given renewed life, in the form of a Tumblr blog, as
digital natives spewing all the usual buzzword bingo that's so prevalent in today's marketing landscape.
Taking on the form of animated gifs, we have Don informing his secretary: "The future of advertising is socially integrated digital platforms." We have Peggy commending a co-worker saying: "Nice branded social post, bro." We have Don asking Peggy: "But does it work as a pre-roll." We have Don reacting to a proposed "Tinder-powered drone." We have Pete telling Don: "The CTRs need optimizing for behavioral targeting of Millennials."
And on and on and on. Brilliance.