Below are the February articles of interest from key trade publications, with excerpts highlighting key take-aways. This month's selection includes articles on ROI in 2018, agency productivity, as well as GDPR. We hope that you find this month's selections informative and valuable.
1.CMOs on the Hook to Prove ROI in 2018
After a three-year bullrun of budget increases, marketing budget growth stalled in 2017-2018.
CMOs and marketing leaders must now justify past budget commitments and show the returns they deliver to ensure the future fiscal health of marketing, according to the most recent Gartner CMO Spend Survey.
According to the survey, many marketing leaders struggle to budget for expected returns or manage marketing technology (martech) effectively. Budgeting and fiscal immaturity stifles the relationship CMOs have with CFOs and puts future budgets at risk while poor martech management across such a large portfolio of technologies means that now, more than ever, CMOs need to improve their martech capabilities and prove their technology chops.
2. P&G to Cut Advertising Costs by $400M
The cuts keep coming: P&G plans to cut advertising costs by $400m by implementing new agency models and reducing the number of agencies it works with by 50%.
Last month, P&G chief financial officer Jon Moeller told investors that a review of its agency roster was underway.
3. Agencies are Killing Their Own Productivityhttps://www.mediapost.com/publications/article/315316/agencies-are-killing-their-own-productivity.html?edition=107808
Cast a businessperson’s eye toward the new agency productivity report from the Agency Management Institute (AMI), and you’ll be struck by agencies’ toxic attitude. Clients make us over time and budget on half our work, respondents said, because they don’t give us complete briefs, suck up our time, and constantly make last-minute changes. Although we admit our account people are nervous about making the client mad by imposing deadlines or surfacing conflicts.
4. Unilever's Keith Weed Named WFA's Global Marketer of the Yearhttps://www.wfanet.org/news-centre/unilevers-keith-weed-named-wfa-global-marketer-of-the-year
Voters pick Unilever Chief Marketing & Communications Officer as first-ever winner. Weed attracted 36% of the 6,000 votes to take the prize, which was launched by the WFA to celebrate the role that global and regional marketers can play in driving more effective and sustainable marketing.
5. GDPR is Hothttps://www.marketingweek.com/focus/gdpr/
Find out the implications of the European General Data Protection Regulation (GDPR) for marketers and how to comply with the new data laws.
6. CPGs Focus on Marketing in Tough US Retail Landscape
The world’s largest consumer product brands are struggling to grow their US businesses.
While some of the challenges are macro-economic, like increased transportation costs, the biggest factor is the growth of retail private-label brands, which can’t be acquired or stamped out like startup competitors.
7.Ad Agencies and Holding Companies Need a Plan B - So Just What Exactly Is That?
As prospects remain uncertain for adland across the globe, Michael Farmer argues holding companies should focus on rebuilding, not squeezing, their agencies.
Agencies are no longer seen as valuable strategic partners. Agency work has become executional in nature. Fees are commodity-like for creative and media agencies. Holding company prospects are uncertain. Something has fundamentally changed in the marketplace. Do we work harder on Plan A, or do we need a Plan B?
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