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Is this how you feel about modern marketing (and the world of digital)?
(Of course this is the legendary Anthony Hopkins having a bit of fun if you haven’t already guessed it)
Marketing is broken, well almost! Most digital marketing is already 10 years out of date. Today, very few companies use digital marketing effectively, and that’s a great opportunity to position your business successfully in the next couple of years.
One of our favorite pontificators and doers in where marketing is heading (and what one needs to do about it) is Gary Vaynerchuk, here’s a taste of Gary Vee in action:
A couple of insights on why digital marketing has got a few significant problems from some of the experts and hefty spenders:
Ineffective tech platforms with questionable placements (toxic content)
‘Consumer goods company Unilever is threatening to pull all advertising from online platforms that allow “toxic” online content, as reported by Reuters. According to a speech that is expected to be made today by Unilever’s chief marketing officer Keith Weed, the move will encompass platforms that “do not make a positive contribution to society.”
Though Weed does not call out specific companies, his terminologies make it clear Unilever is referring to platforms like Facebook and Google, two companies that have been fraught with controversy over ad practices.’
https://www.theverge.com/2018/2/12/17004598/unilever-advertising-online-toxic-platforms
Wasted digital marketing
‘Interestingly, it appears that it might not take as much effort for advertisers to at least start separating the digital wheat from the chaff. For example, in March, the New York Times revealed that JPMorgan Chase had reduced the number of sites its ads appeared on from 400,000 to 5,000 with “little change in the cost of impressions or the visibility of its ads on the internet.”
JPMorgan Chase’s approach? It first eliminated all of the sites that didn’t generate any activity beyond an impression and then had an intern review the 12,000 sites that remained after that initial filter was applied.’
https://econsultancy.com/blog/69309-how-much-waste-is-in-the-digital-ad-market
Cutting back on no value display advertising
‘Procter & Gamble Co (PG.N) said on Thursday it cut digital advertising spend by $200 million last year based on viewership data provided by tech and media companies that showed its ads were not reaching its target audience effectively.
P&G, the world’s biggest advertiser, has been at the forefront of a campaign to pressure digital media companies to be transparent with their viewership metrics by telling them how many people see their ads and how ad agencies spend advertising dollars.’
https://uk.reuters.com/article/us-procter-gamble-advertising/pg-says-cut-digital-ad-spend-by-200-million-in-2017-idUKKCN1GD654