Hello, markITwrite followers and fans, and welcome to the first of what we hope will become a regular weekly series which aims to look at some of the interesting goings-on in the world of marketing.
We digital marketing gurus/ninjas/junkies [delete tedious clichés as appropriate] spend such an awful lot of time writing about serious business-related stuff, we may not have time to keep up with all the goings on of the industry we work in. However, the weekend is almost upon us, and we’re all gearing up to enjoy a well-earned lie in, followed by… well, probably more work, but never mind.
So, let’s grab a steaming mug of rich black coffee – or whatever milky sweet rubbish you heathens imbibe – and kick back for a moment with our weekly digital marketing news roundup.
Google Doodle of the Week
(Image source: google.com)
Subrahmanyan Chandrasekhar would have turned 107 yesterday. The Indian-American astrophysicist was the first scientist in his field to be awarded the Nobel Prize for his theory on the evolution of stars.
Before turning 20, Chandra had published his first paper and developed his theory of star evolution. He was elected to the Royal Society of London by 34, and was named a distinguished service professor of physics soon afterwards.
His honours include the National Medal of Science, the Draper Medal of the US National Academy of Science, and the gold medal of the Royal Astronomical Society. Fighting against initial ignorance and scepticism, Chandra’s theories and equations eventually won the Nobel Prize in Physics – 50 years after their original publication.
He pioneered the Chandrasekhar limit, which explains the conditions under which a star collapses in on itself to become a white dwarf, before exploding into a supernova, or further collapsing to create a black hole.
In honour of his achievements Chandra has been given this charming blackboard style animated Google Doodle. A tip of the hat to you, Subrahmanyan Chandrasekhar.
The B-Word Takes a Bite out of Marketing Budgets
We are, of course, talking about Brexit.
The political uncertainty, rising prices, and gloomy economic forecasts surrounding the UK’s exit from the European Union is putting even the intense positivity of the marketing industry to the test.
Businesses don’t enjoy spending money at the best of times, but during periods of turmoil such as Brexit, they tend to tighten their belts even more. The issue is being magnified by the poor progress being made so far during the negotiations in Brussels, with many fearing the deadline may result in the UK leaving the EU without a trade deal in place.
The Bellwether Report surveyed the companies usually spending the most on marketing, and found 80% had either frozen of reduced their budgets in the last quarter – showing an increase from the second quarter of 2017.
Uncertainty over Brexit was given as the main driving force behind reluctance to increase budgets.
Marketers had therefore think about maybe tightening their own belts and be prepared to find innovative ways to do more with less – or branch out into previously untapped industries. Alternatively, it may be time to brush up your sales pitches and be prepared to convince your clients why they should buck the trend.
Google and Facebook Cleaning Up Online Advertising.
Yes, we know Google and Facebook are both “cleaning up” with online advertising, but we’re talking about a different interpretation of the term here.
The two behemoths have joined 21 other Internet Advertising Bureau (IAB) UK board member organisations – including Twitter and Microsoft – to help enforce a new gold standard which digital advertisers must adhere to if they are going to peddle their wares in the online space. Covering everything from fraudulent advertising to brand safety, the initiative has laid out three key principles.
- Reduce ad fraud by implementing the ‘txt’ initiative on all sites carrying ads. This means publishers and distributors are forced to declare who is authorised to sell their inventory, thereby improving transparency for buyers.
- Improve the digital advertising experience for consumers by adhering to the LEAN principles, the Coalition for Better Advertising standards, and never using the 12 “bad” ads. In short, ads must be light, encrypted and non-invasive.
- Increase brand safety by working with UK body JICWEBS, which benchmarks best practice for online trading, with a view to becoming certified and maintaining certification.
The deadline for the initiative’s implementation has yet to be announced, and more tenets are likely to be added over time, but this represents a major step in cleaning up the much-maligned online advertising industry. Reports from earlier this year regarding advertising being displayed alongside extremist and pornographic material on YouTube hammers home the need for extra protection for both consumers and brands.
Have a Happy Weekend
We hope you enjoyed our first TBIF. Please head on down to the comments and let us know your opinion on this week’s stories, and any other news which has grabbed your attention this week.
See you in seven.