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The U.S. marketing industry is suffering from sub-optimal growth and a range of other potentially debilitating issues, but the potential for recovery is in the hands of CMOs who must revitalize marketing and overcome barriers to growth, according to ANA’s CEO, Bob Liodice.Liodice urged CMOs to step up and make the difficult decisions needed to build brands and increase revenue by adopting steps recommended in a 12-point agenda set forth by an initiative launched last year called the ANA CMO Masters Circle. He made his comments in his opening remarks to almost 2,700 attendees at the three-day 2017 ANA Masters of Marketing Conference at the Marriott Orlando World Center.Liodice praised advancements in technology and creative advertising and showed numerous examples of successful ad campaigns that contributed to significant brand growth. However, he said the industry still faces a myriad of impediments.“As we acknowledge these samples of our industry’s brand-building, we must candidly assess its direction” he said. “Yes, there has been substantial technological progress. But is that progress getting us anywhere? The answer is a decided ‘NO.’ Pardon my Brooklynese — but growth sucks. Great marketing isn’t great unless it is validated by superb business results, well-developed brands and, most importantly, enduring business growth.”He cited figures showing overall U.S. business sales declining for the last two calendar years, and pointed out that in 2016 more than half of Fortune 500 companies — 259, to be exact — had declining revenues despite a continued increase in media spending.He said the reason for the performance downturn was straightforward: “It boils down to a lack of effective marketing leadership” he said. “As leaders, we, as an industry, have refused to make the tough calls — calls that would take us out of the cesspool of sub-optimum growth.”
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