1. Brands are failing to promote top marketers
Marketing is suffering from an “acute succession crisis”, according to Russell Reynolds, with it warning the proportion of external hires for top CMO jobs is causing an “imbalance”. In the first half of 2016, external hires accounted for 64% but in 2017 that had risen to 72%.
Just 21% of CMOs are promoted internally. Of those, 25% take on a more senior role outside marketing (such as general manager or CEO), while 34% take on a different marketing role (for example chief brand officer).
2. Consumer confidence takes a hit
Consumer confidence fell once again in July, down two points to -12, as uncertainty and an economic slowdown continue to bite.
According to the GfK, the major purchase index also fell by two points to -2 and it is warning retailers there will be little cause for optimism over the coming months.
3. Ad viewability hits 15-month high
Ad viewability in the UK rose for the first time in nine months in Q2 to the highest level in over a year. Figures from Meetrics show it was 47% in Q1 2017, compared to 51% in Q2.
However, viewability varies depending on the type of ad shown. Across Europe, programmatic viewability is 52%, compared to 59% for ads bought direct. Video ads also have better viewability metrics than banner ads.
4. Ad spend growth slows
UK advertising grew at its slowest rate for almost four years in the first quarter of 2017 as a notable drop in TV spend hit the market. Spend was up just 1.3% to £5.4bn, according to the quarterly AA/Warc report.
TV ad spend was down 6.2%, the first drop since 2009, while digital grew to account for more than 50% of ad spend for the first time.
5. P&G slashes digital ad spend
Procter & Gamble slashed its digital ad spend by $140m in the second quarter as it cuts down on ads appearing in places that don’t meet its standards or specifications.
However, the reduction had little impact on its organic sales, which were up 2% during the quarter. P&G says it has no plans to reallocate the spend, which it says was going on ads shown to bots rather than people and on ads appearing in inappropriate places.