“I think you need to fish where the fish are,” Mr. Weed said during a question-and-answer session with WPP Chief Executive Martin Sorrell. “So I’ve made it fairly clear that I’m driving Unilever to be at the leading edge of digital marketing.”
via Advertising Age.
Welcome to the pond Mr. Weed.
“I think you need to fish where the fish are,” Mr. Weed said
Doubling the digital budget takes it to 8% of the total budget ($34.5M) if the Ad Age article is correct. Does that mean that Mr. Weed believes that 92% of the fish are somewhere else?
I guess this is positive news, but I suspect a lot of organizations will be making substantial increases in the money budgeted for digital advertising/presence looking forward. But doubling, or tripling, a comparatively small number is still a small number. Most companies with big ad budgets use a portion of the budget for experimentation. This still feels like experimentation to me.
Also I suspect we are going to see a lot of articles like this — putting a positive spin on not very significant news. Cheerleading is fine, but it’s important to keep it in perspective.
Companies with brand recognition could benefit, and Unilever has tons of well known brands under their wings. If unestablished or less well known companies tried the same thing, they would likely find their return on investment to be poor.
Out of more traditional media, most recent industry studies and market research I have seen indicates a battle for ever shorter attention spans. In such an environment, the more immersive media have experienced better correlation, with the top choice being magazines. However, digital media promise recording metrics, and I think that is why companies are more compelled to push efforts towards that direction.
Well at least someone is stocking the pond . It’ll be some what of an upwards trend for business. It is …..good news to hear.
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