“The focus of marketers remains relentlessly short-term and arguably underweighted relative to long-term brand building in broadcast media,” Adam Smith, Futures Director at GroupM, declared today when the media buying giant announced its latest forecasts for the UK advertising market. “This favours performance-oriented digital media which continue to be the most robust growth story despite concerns over measurement, transparency, brand safety and other issues”. As you can read elsewhere, GroupM has also upgraded its forecast for overall UK advertising growth this year, from 4.1% to 5% growth.
Nick Theakstone, CEO at GroupM UK, picked up on the short-term versus long-term observations. “Our forecast shows a stable [UK] market in an overall low-growth consumer spending environment. This is encouraging, but we are concerned about pressures on marketers to overweight short-term ROI versus brand building for the long-term. It’s imperative they get the balance right.
“It is also crucial that the industry deliver better audience measurement to support media planning for performance and brand building alike,” Theakstone adds. “As ever, we lend our full support to industry initiatives like BARB’s Dovetail and PAMCo’s AMP while also filling the gaps we see, like scaling an accountable addressable TV market with our new business, Finecast”.
Short-term vs long-term marketing balance
Do we have the right balance in Europe between TV and digital budgets, and between short and long-term marketing? This is one of the questions that will be answered during ‘The Buyer’s Debate’ at Future TV Advertising Forum in December. Panellists include: Matthew Gaunt, CMO at Wickes; Anna Maria Vujinovic, Head of Digital Sales, Programmatic & Digital Development at RTL; James Boyer, Marketing Director for Groupe Renault UK & Ireland; Richard Brooke, Global Media Operations Director at Unilever; and David Fletcher, Commercial Director Global Investment at Omnicom Media Group.