“We are going to all have to get much smarter. We live in a world of big data, we can track (marketing) performance better than ever before, we have the ability to attribute the communications, both content and media activity, in a far better way. But advertisers and marketers need to be able to see it in proof.”
Indeed, big ad spenders Procter and Gamble (P&G) and Diageo have talked about making their marketing more efficient during results briefings this week.
Jon Moeller, P&G’s chief financial officer, talked of “eliminating non-viewable ads,” as well as being more precise with digital ad placement, in the company’s second half results call Tuesday.
“We see further cost reduction opportunity through more private market placed deals with media companies and precision media buying, fueled by data and digital technology,” he said. P&G said it had reduced ad agency and production costs by $750 million ($1.07 billion) and expected to save another $400 million.
Drinks giant Diageo said Thursday it had increased its overall marketing spend in the first half of its 2018 financial year to £968 million, up from £908 million a year earlier, but said it was “delivering more improved marketing efficiencies” with savings across media buying, live experience marketing and point of sale, in a statement emailed to CNBC. The company reported a 1.7 percent increase in sales for the half-year.
