Tag: Agencies

Advertising & Marketing

How ad agencies can cope with reduced spending from tech clients

Tech clients are slashing their marketing budgets following the massive layoffs across the globe earlier this year. This is also reflected in the latest financial results of global advertising holding firms. 

According to the recent quarterly results from WPP, Q3 like-for-like revenue less pass-through costs decreased by 0.6% with growth in the UK, Western Continental Europe and the rest of of world, offset by declines in North America, with continued weakness from technology clients and in China.  

Mark Read, chief executive officer of WPP, said: “Our top-line performance in Q3 was below our expectations and continued to be impacted by the cautious spending trends we saw in Q2, particularly across technology clients with more impact from this felt in GroupM over the summer than the first half.” 

Meanwhile, Philippe Krakowsky, CEO of Interpublic Group, also said during the third quarter of 2023, IPG’s revenue performance did not measure up to expectations, “factors that we have identified since the early part of the year continued to weigh on our growth in the quarter. These include the decreases in client activity in the tech and telecom client sectors that have been evident across our industry, and the performance of certain of our digital specialists.” 

“Another factor impacting results is increased concern among marketers related to macroeconomic conditions, which led to the delay of projects and sales cycles, as well as slower-than-anticipated onboarding of some new business,” he added.  

Potential reasons behind 

While the rise of AI and other new digital technologies may have played a role in the reduced budgets from tech clients, Industry players MARKETING-INTERACTIVE spoke to attributed this phenomenon to the increasingly difficult economic and political climates.  

Keso Kendall, SVP, APAC at TEAM LEWIS, said economic and political climates make companies more cautious, as well as increased difficulty grasping customer

… Read More ...
Advertising & Marketing

Greenwashing era is over, say ad agencies, as regulators get tough | Marketing & PR

Across the advertising industry, agencies are wrestling with their role in greenwashing scandals and their support for clients driving the climate and nature crises.

Companies are to face stricter rules from regulators in London and Brussels over what they can tell consumers about their role in the climate crisis and the loss of nature. Terms such as “carbon neutral”, “nature positive” and those concerned with offsetting are to undergo greater scrutiny by organisations such as the Advertising Standards Authority in the UK. In order to take meaningful action, agencies must also reconsider their relationships with major polluters, industry insiders have said.

“The era of unspecific claims such as ‘environmentally friendly’ is over,” said Jonny White, senior business director at AMV BBDO, which works with companies including Diageo, Unilever and Bupa. “Misleading environmental claims are under the microscope from advertising regulators, consumer watchdogs and even governments. The risks of getting it wrong are huge, with brands being shamed publicly when they are guilty of misleading the public,” he said.

Creative members of advertising agencies are having to work closely with their legal teams when advising clients on their climate claims, insiders have said, with an increased risk of fines and advert bans in some countries.

In the UK, the Ad Net Zero programme was launched in 2020 in a bid to reduce the carbon impact of the advertising industry’s operations to net zero by 2030, but many agencies are developing in-house teams for sustainability-focused campaigns.

“In many client organisations, there is still a big gap between the marketing and sustainability teams. They have different, often competing objectives, and are accountable in very different ways,” said Ben Essen, global chief strategy officer at the global marketing agency Iris Worldwide, which works with firms such as Adidas, Starbucks and Samsung, and is also

… Read More ...
Advertising & Marketing

Global Advertising Agencies Market Forecast 2023-2032 – Market Size, Drivers, Trends, And Competitors

Advertising Agencies Global Market Report 2023 - Market Size, Trends, And Global Forecast 2023-2032

Advertising Agencies Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Advertising Agencies Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032”

— The Business Research Company

LONDON, GREATER LONDON, UK, February 20, 2023 /EINPresswire.com/ — The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s “Advertising Agencies Global Market Report 2023” is a comprehensive source of information that covers every facet of the advertising agencies global market. As per TBRC’s advertising agencies market forecast, the global advertising agencies market size is expected to grow to $463.83 billion in 2027 at a CAGR of 4.3%.

An increase in advertisement spending across industries is expected to drive the demand for the advertising agencies market. North America is expected to hold the largest advertising agencies market share. Major players in the advertising agencies market include Caveni Digital Solutions, Socialiency Advertising, Tegra, BrandBurp Digital, Plan Z, Titan SEO Group, Breakneck Creative.

Learn More On The Advertising Agencies Market By Requesting A Free Sample (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=3478&type=smp

Trending Advertising Agencies Market Trend
The launch of artificial intelligence (AI) in advertising is gaining popularity in the advertising agencies global market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, as of MAY 2022, Kantar, launched Link AI for Digital. This is an artificial intelligence (AI) advertising testing tool designed for digital advertising formats. The Link AI for Digital solution predicts the in-market performance

… Read More ...