UberMedia: Brands to Evaluate Agency Options & Refocus on Strategy in 2017
January 17, 2017 | Contributed by: Joe Morsello
At the end of 2016 we asked members of the extended LSA community to tell us what they expect in 2017 for location-based marketing and media. We received a broad mix of predictions from over 50 industry professionals and compiled them into a free report.
Below are the predictions submitted by Michael Hayes, CMO and CRO at UberMedia:
Agency Review-Mageddon 3.0
After two years of agency review upheaval, we can expect yet another avalanche of advertisers putting their business up for review in 2017. One recent survey found that more than two thirds of advertisers said they are seriously evaluating their advertising agency partners.
The good news is that there should be a tipping point in 2017, as CMOs will need and value stability rather than the disruption of the agency review process. And, more importantly, marketers will more heavily weight agency partners based on talent and technology acumen rather than who can buy spots and dots most efficiently.
A New and Complicated Era between Marketer, Agency & Publisher
We saw hints of this in 2016 when, after a long and much publicized pitch process, McDonalds and Omnicom created a jointly operated “agency of the future” where the client marketing team is embedded within the agency and remuneration is tied to advertiser performance.
The takeaway is that in 2017, as marketers search for new ways to grapple with the velocity, complexity, and data deluge of marketing, we will see marketers demand to be more integrated with their agencies, publishers, data partners, and tech suppliers – all embedded into one multifunctional unit.
“Strategery” Will Return After a Brief Hiatus
Over the last few years, agencies have been focused on agency-wide buying efficiencies, supplier consolidation, and programmatic automation. These efforts have been worthwhile, and yet they have left an important client strategy gap. As the ad ecosystem consolidates, agencies will turn their focus to a more strategic market and audience planning era.
To access the more than 50 predictions for 2017, download the report here.