Olly Honness, partner at Cubaka, was featured in an article by Phil Lattimore in CIM published on March 7, 2016
This famous maxim may once have held true, but wastage is no longer acceptable in the age of social media, says Olly Honess, partner at social agency Cubaka: “Although things have improved since Wanamaker’s day, wastage has generally been accepted as a norm in marketing because it's an unwritten rule that not all of the marketing budget will be put to effective use. Some say as much as £17bn a year is wasted by so-called experts.
“In the digital era, if waste is defined as delivering a carefully honed marketing message to the wrong audience, there is no longer an excuse. The sheer depth of data available through social media allows us to identify and ring-fence audiences based on interests, attitude, age, sex, location, occupation…to name but a few.”
Takeaway: this should be an age of marketing economy.