Take the Pledge
End Madison Avenue Manslaughter
In the wake of a decade-or-more of marketing cost reductions, CMOs have lost credibility and power; procurement departments have confused benchmarking with marketing; and demoralized agencies have seen their capabilities severely compromised through downsizings, juniorizing and Scope of Work inflation.
Cost reduction programs have run their course. They were never a credible substitute for brand growth as a way of delivering shareholder value.
There have been few strategic winners during the past decade, other than the disrupters – Google, Facebook, Amazon and the unicorns of online commerce. Legacy brands are languishing. Millennials remain a mystery. Digital and social marketing are question marks. Trust has eroded. Advertisers and agencies alike are battered, like addicts caught in a vicious cycle of self-destructive behavior, their relationships increasingly unmanageable. Madison Avenue’s Manslaughter (MAM) has taken its toll.
Advertisers and agencies must develop a new paradigm and work in unaccustomed ways to restore brand growth and profitability.
What should be done?
Advertisers and Ad Agencies should Take the Pledge to end dysfunctional MAM practices