The future of ad spend is all about getting back to basics, and digital shouldn’t dominate brand’s marketing budgets, according to PwC chief creative officer Russel Howcroft.
Speaking recently on ANZ’s bluenotes podcast, Howcroft said that while it is crucial for businesses to fully digitise themselves, they shouldn’t abandon traditional advertising forms.
“Every business needs to use the opportunity to get all the incredible efficiencies and capabilities of the digital world in how they function as a business,” he said.
“What we [also] need to do is have another look at our marketing spend and go back to some really basic stuff – reach analysis, audience analysis, spend mix, how much money is too much money in any given medium.
“I think all that stuff has been lost in the post-great recession world.”
Howcroft also recommended brands further analyse how much focus they need to be placing on social media, as well as its return on investment.
“We have piled in to social media as this ‘cure all’… let’s just stop and have a really good analysis for all these things,” he said.