With advancements in digital technology falling short of solving these issues, the degradation of third-party cookies has further complicated the problem.
According to the World Federation of Advertisers (WFA) report, multinational marketers face major media “capability gaps”. The widest gap - that marketing professionals are trying to bridge - is the areas of ecommerce and shoppable media.
The dissatisfaction with existent media practices in ecommerce stems from the fact that a mere 28% of media and marketing teams monitor company budgets for shoppable formats. While 67% of the respondents said their companies were strengthening internal media capabilities, only 11% were “very satisfied” with existent capabilities.
75% of the participants predicted media management would play a much more pivotal role in the coming days. Media investment will find itself under the spotlight for scrutiny on ethical lines. Marketers will be expected to evaluate their media plans to see if they negatively impact the environment, consumers, and society.
[2 minute read]