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Marketers competing in mature product categories are in a tough spot. For offerings from cereal to flights to cars, competition for market share and share of voice is ruthless. Brand managers have to contend with long-established brands (e.g., Pepsi and Coke), hot new trends (e.g., coconut water), and even competition within their own corporate walls from overlapping brands (e.g.
Marketers are hooked on inflated numbers, and it’s time for everyone to come back down to earth. Much of the issue started with a “use it or lose it” marketing budget strategy. If marketers didn’t spend everything they had, they didn’t get it come the next budgeting cycle. Marketers told their agencies to spend all of the money, and so that is exactly what the agencies did.
At Google’s NewFronts presentation in May, YouTube CEO Susan Wojcicki declared that the video site captures more attention from 18- to 49-year-olds on mobile alone than does any single cable network or broadcaster overall. She also highlighted an announcement from media agency Magna Global on moving $250 million from TV to Google video.