Our President of Sports and Experiential Michelle Palmer recently provided commentary for a SportsBusiness Journal article, “How media spending drops are affecting sports agencies.”
“We’re starting to see reductions in budgets and clients talking about doing more for less,” she says. “For next year, we’re hearing flat to down [budgets], and while our agency is diversified enough to hand le that, we continue to hear concern from clients about things like NFL ratings as a possible indicator of sports TV overall, and a lot of top-level uncertainty because of Trump.”
Times like these make it crucial for clients to be able to pivot their dollars to reach consumers at their current passion points. We have to ask ourselves questions that keep us ahead of the curve. If TV ratings continue to decrease, where are these consumers spending their time? Where can we reach them in an authentic way?
The article also explains that not all agencies are suffering, indicating that agencies that specialize in things like sponsorship activation and experiential marketing are reporting record revenues. We’re seeing that although we live in a technology-driven era, the experience economy is more important than ever. Consumers today value memorable experiences, so it is our job to connect our clients to consumers in purpose-driven brand experiences.
It is important for The Marketing Arm to continue to be a part of the conversations within the advertising and marketing industries. Thanks to Michelle for representing us in the SBJ!