Kudos to JPMorgan Chase for recently hiring its first-ever chief media officer, Andrew Knott -- and to its chief marketing officer, Kristin Lemkau, who also serves on the ANA board of directors, for her vision.
Since the media transparency issue broke several years ago, ANA has advocated that marketers need to take a more active role in the stewardship of their media investments. The report, Media Transparency: Prescriptions, Principles and Processes for Advertisers from ANA and Ebiquity made the following recommendation:
For most companies, media is often the largest marketing expenditure. Simply stated, advertisers should be responsible for assuming greater internal stewardship of their media investments. Advertisers need to “lean in” and be more active stewards of their media investments, rather than delegating that responsibility to their agencies. Advertisers should be jointly responsible for the stewardship of their media investments with their agencies. Advertisers who outsource their media management without active internal stewardship do so at their own risk.
Congrats to Andrew Knott and JPMorgan Chase! ANA encourages more companies to follow suit.
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