PHOENIX: Marketers face a number of challenges as they seek to adapt to changes both inside and outside the industry, ranging from demonstrating the value of brands to measuring the impact of their work, according to Bob Liodice, president/ceo of the Association of National Advertisers.
Speaking at the ANA's Multicultural Marketing & Diversity Conference – Warc's coverage of which is available here – Liodice presented a list of ten "musts" which will shape the future of marketing.
One of these fundamentals is to embrace new digital platforms, like social networks, which increasingly mean that communications can speak to consumers on an essentially "one-to-one" basis.
Similarly, the industry needs a find a way to demonstrate the tangible value of brands, as "first and foremost, everything we do is about building brands", but "right now, we don't allow any room for brand value on balance sheets," Liodice argued.
Effectiveness and efficiency are other key areas, with the first of these requirements based on improving measurement and accountability, and the second on understanding the supply chain, and the short- and long-term impacts of using different forms of media.
To read Warc's coverage of the ANA's Multicultural Marketing & Diversity Conference, click here.
Data sourced from Warc