Welcome to the latest issue of R3LATIONSHIPS MONTHLY - our ongoing email update of trends and insights into the marketing industry
Transparency in Programmatic Still Plaguing Marketers
The demand for transparency in programmatic has been steadily on the rise for the past several years. In the age of digital transformation, most advertisers have gained a greater understanding of programmatic media buying, and fully realize that fraud and non-transparent buying practices are both costing them money and creating brand safety issues. More and more CMOs are seeking to in-house their programmatic operations to gain control over the process. In R3's latest white paper, we aim to explain the complexities of the programmatic value chain, identify which global marketers are making headway in the fight for greater transparency, and provide six steps that CMOs can use when deciding which programmatic model is right for their marketing operation and overall business goals, as well as how to set it up for long-term success.
Forbes identifies the most influential CMOs on a yearly basis, but this year they've gone one step further to identify the 50 CMOs who are redefining the role for the future. The 50 marketers on the list are from both more established and new brands, but all are disrupting what it means to be a Chief Marketing Officer. R3's Principal & Co-Founder, Greg Paull (who recently co-authored a book on the future of the CMO), asserted that "the CMO role per se is the only C-suite role where, despite the plethora of metrics, there really isn’t a tangible, result-based structure that works in the boardroom. That’s what’s caused some CMO flux. Other C-suite roles have done a far better job of proving their value than the CMO. The future CMO will need to bring in the right analytics to help reduce the risk of marketing and to give to a boardroom and some stakeholders and the executive team a far more accountable approach to what they’re doing. It just makes it a lot more data-rigorous than what it’s been in the past."
The former design chief for IKEA Marcus Engman has a new vision for marketing - and it's design. He recently left the furniture giant to open up his own consulting firm, with the goal of convincing marketers that they can market through product design, and won't have to spend money on ad buys.The idea of marketing through design is not necessarily a new one. However, as consumers are losing affinity for traditional advertising, reaching consumers in an authentic way is becoming more challenging than ever. "More and more people are interested in how things are made," says Engman. "I believe in transparency–being more transparent in design you do–that attracts interest and over time it builds interest in the project.”
R3 is a global marketing consultancy focused on improving the effectiveness and efficiency of marketers and their agencies. Founded in 2002, we work with eight of the world's top twenty global marketers.