"These are biggest ways of pissing money away, that get done over and over and over again," says Taddy Hall, chief strategy officer at the ARF, who led a team that conducted the detailed analysis of about 18 different studies from the Interactive Advertising Bureau's series of XMOS cross-media case studies. The ARF, which has assumed responsibility for managing future XMOS projects (see related story in today's MediaDailyNews) - and perhaps more importantly, for mining and extracting industry-wide insights from them - so far has come up with about ten specific areas of waste, though Hall says there are a two primary ones:
1) Wrong message, which is estimated to be worth $20 billion to $30 billlion in wasted advertising;
2) Wrong timing, which is estimated to be worth $10 billion to $20 billion in wasted advertising.
Bob Barocci, president-CEO of the ARF, says a primary focus of the XMOS learning will be to recapture the "low hanging fruit." By testing creative before it runs in media, he estimated Madison Avenue could immediately recover about $10 billion in advertising value.