The latest IPA Bellwether Q3 2023 report makes for fascinating reading as marketing budgets continue to grow, PR booms and everyone has their eyes on a possible recession on the horizon.
MediaShotz spoke media, PR, marketing and adtech experts including Amplified Intelligence’s EVP Global Partnerships Alex Khan, for their immediate reactions to this most critical of reports.
Alex Khan, EVP Global Partnerships, Amplified Intelligence
“With inflation and elevated cost of living continuing to remain a concern, we’re seeing tentatively rising optimism about better times and bigger budgets ahead, even though growth is slow.
“Amid these pressures, there’s a stronger need to address issues with media measurement to ensure improved spending power across main media isn’t wasted. Traditional reach and frequency metrics still only show where viewable ads were served — not true audience engagement.
“While the report shows a decline in audio budgets, this tends to achieve high levels of attention – so this clearly remains an undervalued proposition.
“Keeping budgets healthy requires efficient media management that drives greater outcomes for less outlay. Achieving that is going to mean augmenting standard planning approaches with measures like AARCs (attention adjusted reach curves).
“This will enable brands to achieve true audience engagement with an accurate understanding of how much attention each ad, format, and channel actually delivers.
“This then can show a direct correlation to outcomes / actions. The end result being greater media efficiency – something all brands want.”
To hear from other industry experts about the latest report and read the article in check out the MediaShotz website.