Media Sense’s poll of 100 senior marketers, including directors and CMOs, highlights the transformations in the media industry.
With the industry's wide range of operational models, technology, and metrics in use, many marketers are transforming their businesses. Currently, marketers in external agency models are either planning for change (20%) or have transformation processes underway (57%). In internal operating models, 68% respondents reported ongoing transformations, while 11% of participants suggested completed transformations.
When it comes to in-housing, 55% of marketers have already achieved the internal transformation of bringing more media functions in-house. Legacy media functions like creatives and paid ads are being outsourced, while newer marketing disciplines like analytics and insights, ecommerce, are being adopted in-house.
The top media metrics according to marketers were conversions to outcomes (36%), ROI/ROAS (34%), and reach/frequency (33%). Moreover, due to COVID-19 "shredding" digital transformation, grad recruiting and more, marketers cited a shortage of talent in areas such as data, analytics, and technology. While omnichannel is becoming increasingly important, the report emphasises that agencies should not overstretch their offerings to accommodate everything.
[5 minute read]