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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

Michael Farmer photo

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
    #

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

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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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