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Post-COVID Forecast: A Resurgence of Marketing and the Beginning of the End for Madison Avenue’s Manslaughter

  • # sales
  • # advertising
  • # marketing
Post-COVID Forecast: A Resurgence of Marketing and the Beginning of the End for Madison Avenue’s Manslaughter

Author

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Michael Farmer

Publish date

December 02, 2020

Channel

Madison Avenue Makeover
14

Marketers and agencies have had a tough time since the financial crisis of 2008. Despite a dramatic increase in media possibilities, major advertisers did not discover the right formula to drive growth. Twenty of the top fifty advertisers in the U.S., representing $1.1 trillion in sales in 2009, grew between -2.9% and +1.9% per year and saw their overall sales (as a group) shrink by 4% during the most recent decade. (The twenty advertisers include -- in order of their annual growth rate between -2.9% to +1.9% -- AstraZeneca, Bank of America, IBM, P&G, McDonald’s, Best Buy, Citi, GSK, Sanofi, Eli Lilly, Macy’s, Unilever, Pfizer, Wells Fargo, Novartis, Sony, Diageo, The Gap, Target and Coca-Cola.) COVID made things worse in 2020. But this is about to change, as marketers confront the failures of the past decade and set a new course for their post-COVID futures.

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Michael Farmer

MediaVillage columnist Michael Farmer is the author of Madison Avenue Manslaughter: An Inside View of Fee-Cutting Clients, Profit-Hungry Owners and Declining Ad Agencies (Third Edition, 2019), which won four publishers' awards for excellence in marketing… read more

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    Home Knowledge Exchange
    Knowledge Exchange

    A B2B Solutions Marketplace, where you can search more than 15,000 original thought leadership commentaries, articles, white papers, podcasts and videos on all things media, marketing and advertising.

    Read member content
    #

    Behind-the-scenes in Hollywood. Exclusive interviews, reviews and insights.

    Go to page
    #

    For three decades, TMR has been the leading resource for B2B Market Intelligence and forecasts on advertising, media and marketing.

    Go to page
    #

    Watch, Listen and Learn reflects our commitment to a robust educational program, particularly access to online learning tools, which are key in attracting and retaining quality employees and delivering knowledge to clients and prospects.

    Go to page
    #

    Building an intersectional network of professionals, educators, non-profits to advance diversity in media, marketing and advertising.

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    TV / Video Download
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    Behind-the-scenes in Hollywood. Exclusive interviews, reviews and insights.

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    For three decades, TMR has been the leading resource for B2B Market Intelligence and forecasts on advertising, media and marketing.

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    Watch, Listen & learn
    Watch, Listen & learn

    Watch, Listen and Learn reflects our commitment to a robust educational program, particularly access to online learning tools, which are key in attracting and retaining quality employees and delivering knowledge to clients and prospects.

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