More than 80 per cent of ad executives say their organisation wants to take more control of their media spend, highlighting the evolving relationship between advertisers and agencies towards more of a partnership, according to research from Kantar. Half (48 per cent) of those surveyed said they strongly agreed with the statement, while just 7 per cent disagreed.
Part of the reason for this shift towards collaboration is the value in combining data and insights – three-quarters of ad executives believe that data should be used ‘by everyone: us and our agencies’.
This also helps explains the growing interest in direct-to-consumer (DTC) strategies, which can provide marketers with first-party data and a more consistent experience with the customer. Overall, more than 80 per cent of respondents are pursuing a DTC strategy.
As well as this, two-thirds of ad executives say customer retention is more important than acquisition. However, a significant portion (21 per cent) disagree with this statement, suggesting some level of disagreement in what works best.
The WARC Guide to Customer Retention highlights how these two strategies are not separate, though – brands should tilt the balance of investment toward acquisition, but understand that most tactics aimed at acquisition can also work to retain customers.
Kantar’s research also shows how the greatest challenge to brands’ advertising and planning strategies is profiling their audience across all media touchpoints (38 per cent), a challenge that has likely become harder since the pandemic. Budget optimisation across media is another key challenge, reported by 37 per cent.
