The majority of brands are taking a more integrated approach to media planning and buying, but operational and data silos still exist, according to a report published this week. The study, from Econsultancy and advertising software provider Mediaocean, found that hurdles to convergence are still strong. Informed by interviews with C-suite executives across some of […]
The majority of brands are taking a more integrated approach to media planning and buying, but operational and data silos still exist, according to a report published this week.
The study, from Econsultancy and advertising software provider Mediaocean, found that hurdles to convergence are still strong.
Informed by interviews with C-suite executives across some of the UK’s largest agencies and brands, coupled with an online survey spanning 150 agencies, the Managing Media
Convergence report tracks changes in consumer behaviour, predicts how customer journeys will evolve and highlights communications strategies available to marketers.
Highlights of the research include:
• Just over two-thirds of companies (68%) are taking a more joined-up approach to media planning as a result of media convergence.
• Agencies believe convergence delivers tangible return on investment (ROI). 60% believe it delivers more measurable campaign effectiveness, and 41% state it has driven direct sales uplift.
• 84% of agencies felt that clients had a limited understanding of the impact of changing media consumption habits on their business.
• 64% of clients are planning to become more data-fluent in the next 12 months, yet only 53% of agency respondents felt they had the data to communicate cross-media effectiveness.
• 59% of companies say that media convergence has resulted in higher budgets for digital at the expense of offline budgets.
• 73% of agencies believe a siloed organisational structure is preventing clients from taking a more integrated approach to media planning. 47% believe it’s due to clients working with separate agencies.
• Amongst the channels expected to decline is direct mail, which is expected to drop 56% in the next 12months. Social and mobile advertising will grow significantly, 83% and 82% respectively.
Companies interviewed for the research include: William Hill, Microsoft, Hotels.com, RSA Insurance, EMEAR Cisco, National Rail Enquiries, ZenithOptimedia, Vizeum and MEC UK.
Sarah Lawson Johnston, Mediaocean Managing Director, UK & Ireland, said: “Convergence is delivering greater transparency in both data and analytics, however marketers are struggling to grapple with how they’ll handle the last mile of breaking down siloes. This study gives answers to what’s being done.”
Linus Gregoriadis, Research Director, Econsultancy says: “This study makes two things clear. First, marketers are shifting their working models dramatically to adjust for the new media consumption. Second, many marketers still aren’t sure how they’ll keep pace with the change. We’re happy to have shed some light on what the smartest marketers are doing to transform with the times.”
