Welcome to 2024! It is now officially the year of the Dragon. The Dragon is considered a symbol of strength, courage, and good fortune.
We are still facing geopolitical uncertainty around the globe but we are also seeing increased media spend due to the US presidential election and the Paris Summer Olympics. We also can look forward to Copa America, the South American soccer championships.
We normally only issue a quarterly Newsletter but there has been so many articles and insights coming out in our industry (as well as from RAUS Global) that we felt we had to release this Newsletter in mid February. Enjoy!
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Marketing procurement has clear priorities for 2024. Laura Forcetti, Director of Global Marketing Sourcing Services, identifies seven areas where the magnifying glass is likely to focus.
We all need priorities to help us focus and marketing procurement is no exception. What’s important is that they keep evolving and the current goals for our Sourcing Forum members show both where they plan to focus now and how those priorities have evolved over the last five years.
Polling of 107 members from 64 of the world’s largest companies identifies this year’s top priorities as stakeholder engagement, defining savings, evolving perception of marketing procurement and client agency performance models.
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Navigating the Complex Landscape of Programmatic Advertising
(ANA action items made simple)
by Christine Moore, Raus Global
| Programmatic advertising has revolutionized how marketers reach their audiences, offering unprecedented scale and precision. However, as the ecosystem grows more complex, several issues have emerged, impacting campaign efficiency, transparency, and environmental sustainability. Identifying these challenges is the first step toward crafting effective solutions. |
Your copy should address 3 key questions: Who am I writing for (audience)? Why should they care (benefit)? What do I want them to do (call-to-action)?
Create a great offer by adding words like "free," "personalized," "complimentary," or "customized." A sense of urgency often helps readers take action, so consider inserting phrases like "for a limited time only" or "only 7 remaining!"
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Sustainability is non-negotiable. It’s not a mere trend or buzzword; it’s a strategic imperative. Including sustainability in your Paid Media approach is akin to securing the foundation of a sturdy building. But why? Because today’s consumers demand it. They seek brands that align with their values, and sustainability is high on their list.
There’s a misconception that sustainability detracts from revenue. Some believe that every moment spent contemplating sustainability translates to lost opportunities. However, this couldn’t be further from the truth. In reality, sustainable practices enhance long-term profitability. Let’s debunk the myth that revenue and sustainability are at odds
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by Christine Moore, RAUS Global
| Pitch reviews, a common practice in the marketing and advertising world, bear an eerie resemblance to the US healthcare system — they are broken. As businesses seek new agency partners to elevate their marketing efforts, the current pitch process has become increasingly cumbersome, costly, and time-consuming. Hours upon hours of effort are invested by both agencies and clients, leading to an overwhelming surplus of data and complex decision-making. It is evident that a new approach is needed to revolutionize agency search and evaluation. |
Retail Media Networks
by Craig Stein, Senior Consultant, R3
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The relationship between retailers and brands is an interdependent one: brands, particularly CPGs and other manufacturers of physical goods, provide products for retailers to place on their physical (and digital) shelves; and retailers, in turn, get these products into the hands of consumers. But the nature of this relationship is evolving and deepening with the advent of retail media networks (RMNs).
While not an entirely new phenomenon, (Amazon has been quietly working on its media business for more than a decade) RMNs have seemingly burst onto the scene in the last couple of years, grabbing headlines and ad dollars alike.
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Contractual audits explained - What’s discovered in a contractual audit of your marketing agency?
By Christine Moore, Managing Partner, RAUS Global
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It’s vital that advertisers use all the tools available to them to validate corporate governance across all their partners, suppliers, and vendors in the marketing supply chain. It’s also well-established best practice that, to validate overall risk management of a company, large ticket items are prioritized. Media and marketing often account for between 10% and 15% of a company’s total expenditure. This is why it’s so important for brands both to institute an annual program for media price/quality benchmarking and to assess the extent to which key partners in the marketing space are complying with their contractual obligations.
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Never heard of Adfidence? You might soon if you have brand safety concerns
By Michael Bürgi, Digiday
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In many industries, but especially in the advertising and marketing industry, it is very difficult to find agency partners that “fit the bill”, both from a capabilities standpoint and from a diversity standpoint.
It all starts with being more aware of where to look, how to engage and what work diverse agencies are capable of. The conversation with Chris Kenna led me to learn about “Certifiably Diverse” a fully flexible system accessible through APIs or web-based interfaces. In today’s increasingly customer socially conscious markets, businesses, especially Fortune 500, are constantly seeking to better identify and foster meaningful and impactful supplier diversity.
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WWW.RAUS-GLOBAL.COM
Visit our website to learn more about our team and the different areas of marketing procurement that we serve.
You can also find news and articles as well as our quarterly newsletter.
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