Media and entertainment brands confident about business growth, says Zenith survey
Advertisers in the media and entertainment camp are the most confident about seeing business growth this year, according to Zenith’s new biannual client survey.
Media and entertainment brands confident of business growth says Zenith survey
Advertisers in pharmaceuticals and healthcare followed in second.
Zenith polled its clients about their confidence in the prospects for growth this year, with each category ranked on a scale of 0 to 100, where 0 meant expects substantial decline and 100 meant expect substantial growth.
Media and entertainment led the pack at 82.1, with pharmaceuticals and healthcare second at 70.3, and Alcohol rounded off the top three at 70.0.
Key drivers of business growth as ranked by importance by Zenith clients were as follows:
- Data and Technology
- Business transformation
- New competitive positioning
- Geographical expansion
- Diversification
- Automation
- Mergers and acquisitions
The first three factors were closely ranked together, with geographical expansion in a distant fourth. The main priority of advertisers still appears to be adapting to the transforming economy.
Zenith also posed a question about data and business growth, with clients overwhelmingly responding that:
- The huge increase in data has allowed us to make small improvements in buying efficiency
- It has allowed us to create much better insights
- It has improved brand growth slightly.
There is still consensus that data has not made the leap to drastically improve buying efficiency or brand growth.
“Brands have the opportunity to harness data and technology to transform their businesses and accelerate brand growth, but are having difficulty in turning theory into practice,” said Vittorio Bonori, global brand president, Zenith.
“Agencies must step up and work in partnership with their clients to unlock the true potential of this revolution in communications.” He added.