IPG Mediabrands CEO Danny Bass has predicted market growth next year after a sluggish 2016. But while some media buyers foresee a return to longer-term brand building, Bass is unconvinced. Marketers, he said, remain under severe pressure to deliver rapid results.
“Effectiveness is top [priority] for our clients,” Bass told MCN’s Homefronts. “As one CMO said, it is like they get re-interviewed for their job every three months when they sit down in front of their board and say ‘this is where we are investing the company money’.”
That indicates direct response and acquisition spend will continue to grow. “But what we are trying to do is ensure that is not to the detriment of brand,” said Bass.
International brands, however, are at the mercy of global markets, making longer-term planning impossible for most marketers, Bass suggested.
“Even if you are flying in Australia you might have a bad year in Europe or the States and you wake up to find New York has cancelled your budget for the next six months,” said Bass.
“So unfortunately I do think short-termism will be around next year, although we are predicting a better year with some good growth.”
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