There is a growing trend among brands to bring their marketing in-house after concerns over measurement and a desire to control their own data more effectively. 62% of marketers plan to use fewer agencies, which is up from the 58% in 2015. Does this signal the end of agencies as we know them and will it boost the market for Brand Management tools that complement in-house marketing & brand teams?
Based on a study by MediaSense & ISBA, more than half of brands contacted indicated they will be managing more of their data in-house. Andy Pearch (co-founder of MediaSense) believes "Rapid developments in technology and customer data" are driving "a profound and sustained shift" with brands ‘taking more control’. Data analytics and insight are considered "the critical media capability" for marketers, with 78% of respondents citing it as the most important capability.
Why has this industry shift occurred? With recent issues regarding measurements, their impact and ROI, and them proving to not be accurate or reliable marketers have become increasingly worried, 70% of marketers fear that measurement tactics have become "too corrupted" and "inconsistent". This has led 80% of respondents believing organisational change is needed "if they are going to develop and deliver dynamic creative" and drive business results. Coupled with this is the issue of brand safety, especially after major brands suffering from outsourcing their marketing in recent months, with 24% claiming it keeps them awake at night. All this indicates that it might be great news for Brand Management tools.
If this survey’s finding turns out to be on the money, Brand Management software developers will be in high demand, with brand & marketing teams taking on the lion’s share of the work with a reliable in-house brand management tool software that will streamline the workload as well as provide an additional layer of data, safety and compliance to future promotional campaigns. Add to this the ability for a brand management system to reduce costs and provide a visible ROI, brand management system developers could end up having a busy 2017.
To discover how our Brand Management tool, the Brand Centre, can support in-house marketing, book a tour today.