QUICK IDEA: While the commercial with Bill Murray is receiving accolades Jeep sales are hurting especially the new Gladiator model. Once again an ad agency has conned a client into thinking that an entertaining commercial can sell a product.
QUICK READ: Last night’s Super Bowl was a clear indication that ad agencies are broken and are lacking talent. The money wasted on these spots is wasted and for almost all the advertisers will not result in increased sales.
- Super Bowl commercials cost had reached $5.6 million for a 30-second slot.
- Ad agencies continue to develop spots that are irrelevant and don’t sell products.
- Agencies continue down the path to extinction. They really believe that entertainment sells.
KEY THOUGHT: Some social-media-savvy account manager pitched the idea of killing Mr. Peanut as the thing Planters really needed is to permanently retire its iconic brand mascot. And, desperate to attract the attention of salty-snack-craving Millenials, the company agreed. The death of branding is here.
QUICK READ (By Larry Light CEO of Arcature brand consultancy focused on growing brand value)
- Marketers are confusing “clicks and listens” to buying.
- Just because a commercial garner’s views does not mean there is brand impact.
- Capturing impressions is not the same as creating an impact. An impression is just a media unit. It has a cost. It can be viewed or heard. But viewing is not a substitute or synonym for impact.
- Only about 25% of this year’s Cannes Lion award-winning ads provided actual brand impact meaning the ads did not effectively generate brand sales.
- Loving an ad is not the same as buying a brand.
SUMMARY: According to Forrester “It’s harder to reach audiences, the cost of marketing is going up, the number of channels has exponentially proliferated and the cost to cover all of those channels has proliferated”. But are agencies and brands listening?
THOUGHT: Gary Vaynerchuk, the self-promotional brand, dropped a few bombs from the ANA Masters of Marketing on Friday. He chastised the audience for being too tied to metrics, citing the example of a client that refused to advertise on TikTok “because there was no report for them to latch onto.” The industry, he charged, values “bullshit reporting over common sense.” It’s time for him to join the real world.
What’s going on: According to a new survey, trust in agencies has never been lower. Trust is declining among agencies, brands, and publishers, but for the agencies, the decline threatens to undermine their main revenue source. Why is this happening? Several reasons…