David Okeme drew the attention of the gathering to the fact that the “world is changing” in a way that the digital frontier has become the “biggest influence with the millennials poised to change and alter the course of the market”.
This global reality has however shifted a sizeable part of the advertising media budget to digital. The emerging consequences of the digital foray are beginning to stare practitioner in the face. Poser No. 1 according to him, aligns with legendary David Ogilvy’s theory of 50% of advertising spend is money down the drain! In line with global reality, Okeme calls it “Advertising fraud”.
Despite the assumption that digital is great when considering ROI, he reveals “some people have created robots that simulate eyeballs and over $40 billion is lost to this fraud globally” and Nigeria is no exception. Similarly, Okeme’s Poser No. 2 to jerk the audience is the revelation that marketers’ “unfettered access to customers’ screens” is challenged by “ad blocking”.
According to him, “ad-blocking” device is currently installed on devices by over half a billion people across the world and the number keeps growing. He sums up the consequences of these on marketing budget is wasted money, time and energy.
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