Dive Brief:
- One of the reasons why this year saw a record number of brands review their deals with ad agencies and media partners is that marketers want better access to data and analytics, Daryl Lee, the global CEO of Interpublic Group's advertising agency UM, told Adweek.
- The "data revolution" finally trickled up to major media buys and traditional ad campaigns, Lee and UM U.S. President Kasha Cacy said, and some agencies weren’t prepared.
- Brands today face cost-cutting pressure and found leverage in performance metrics on big media marketing campaigns, according to the UM executives.
Dive Insight:
"Reviewageddon" hit the advertising world this year as the world’s largest brands are reconsidering their relationships with the world’s largest ad agencies and media outlets. A record number of deals went under review over the spring and summer, and the early post mortem indicates that the emergence of data, measurement, tracking and analytics led marketers to reconsider what they were paying for their results.
"The data revolution has happened, and clients are looking at what capabilities their media agencies have—particularly as applied to analytics," Lee told Adweek.
"I think you will see all things analytics become the heart of the media planning/buying process," Cacy said. "My point of view is that the industry is in kindergarten when it comes to data."
Media execs and agencies should take note – the playing field has changed and the future is going to be based on measureable results.
