It’s been a year since I compiled my latest digital stats summary and so I felt I was long overdue to provide another one. A lot can happen in a year, it was only yesterday my son was born and … Read Full Article >
Whilst digital has been on the agenda of many CMOs and senior marketers for years – some industries have been better at adapting their marketing strategy and shifting spend towards digital than others. Whilst the writing is on the wall, and the facts speak for themselves I often ponder what is still holding many Australian brands back from investing appropriately in digital. Whilst there are many challenges brands need to overcome to embrace digital – one of the key things brands who are struggling to adapt need to consider is how their budgeting process may be hindering their ability to invest in digital.
Techniques to challenge the budgeting process and break to mold
With many senior marketers in the midst of forecasting next financial years spend, a few non-traditional budgeting methodologies that have caught my attention which could be just what the doctor ordered to assist brands to shake things up and drive greater investment in digital.
Zero Based Budgeting
What is it?
In late October, Coke announced it was moving to a zero based budgeting model for marketing, an approach that is also being adopted by Modelez, Heinz and several other big brands. Driven by Coca Cola’s revenue decline marketers are having to face tougher cost control measures in an expanded efficiency drive. According to Muhtar Kent, Coke’s media investment Chairman and Chief Executive;
“The changes will bring complete clarity to the roles and responsibilities on a geographical basis. We are not going to be throwing volume out the door. It will be a more balanced approach towards how we generate revenue and how it flows into bottom line”, said Kent. “There is a clear line of sight in terms of how we invest and how we get returns from investment.
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The growth in mobile and tablet device usage, combined with the increasing importance brands are placing on collecting and leveraging data, is driving innovation within the digital media space. In this article I take a look at 3 of the most interesting trends that are reshaping the digital media space as we know it.
The cookies are crumbling – the rise of cross device ID targeting
The days of the cookie are numbered – the writing is on the wall. In a multi-screen world the cookie has become increasingly irrelevant as web users’ ‘paths to purchase’ increasingly take place across multiple screens and audiences continue to migrate web browsing to mobile and tablets – some of which don’t support cookies.
To combat the issue, ad networks, publishers and platforms alike are all heavily investing in user ID tracking to enable advertisers to promote to the one consumer across various devices.
Facebook last month announced the re-launch of their Atlas platform. Using Facebooks login to track users cross device, Facebook is able to track and target the one user along the path to purchase. Apple, Microsoft and Google have also rolled out or are trialing solutions in-light of the ailing cookie which means we are set to see a wealth of new digital media opportunities open up in the coming 12 months when it comes to cross-device targeting.
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In the dynamic digital landscape, where new platforms and devices are continuously emerging and evolving – marketers are facing an array of new challenges Read Full Article >
Native advertising continues to gather pace with BIA/Kelsey estimating native ad spending on social media alone would grow from $3.1 billion this year to $5.0 billion by 2017. Read Full Article >