Amid exploding remits and static resource, marketing is being squeezed – and compared to what's coming down the track, we've only seen the tip of the iceberg. The reaction by many marketers has been to seek safety in specialism. But that risks narrowing career choices at best and functional obsolescence at worst. Which is why the Australian Marketing Institute (AMI) has created a 25-strong capability program that future-proofs marketers and gives marketing the same accredited status and standards as accounting and engineering, via its overhauled Certified Practising Marketer (CPM) program. Marketing bosses from ANZ, Deloitte and Destination NSW are among those backing the push for an overarching professional development and standards benchmark for industry – agencies, media and customer tech included. AMI CEO Bronwyn Powell, a former local and global CMO with the likes of Mars and KFC, urges Australia's marketers – from top, through middle-rankers to those beginning their careers – to get on board and upskill their way to growth, status and credibility. Agency leads too – and Powell's also targeting CEOs and CFOs.
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Mi3's all-time top stories of 2023: Corporate conscious uncouplings and PwC, Ehrenberg-Bass 'dogma', CDP benders, Tourism Australia rules, marketing effectiveness reigns and agency models monstered
Like Mi3's top Marketing stories for 2023, marketing and advertising effectiveness ruled the heatmap in our overall biggest stories for the year. But there's a new wave of surging industry interest in customer tech – customer data platforms, martech stacks and decisioning engines have been notable areas of rising interest from marketers and the agency sector this year. Plus a little corporate intrigue went a long way when Thinkerbell split with PwC and its stake in the agency after the big audit and advisory firm's tax scandal. There was also much intrigue around the broadcaster v streamer street fight and Australian adland's biggest export – Accenture Song's Global CEO, David Droga.
Owned media v retail media: Commbank, ANZ, Telstra invest in owned channels as sector’s commercial value increases 10% to $4.3bn; Financial services up 19% as non-retail brands eye upside
Owned media in Australia – brands' own websites, email, apps, instore and social assets – now has $4.3bn in commercial potential. It could reach $5bn in as little as 12 months as brands, eyeing the growth of retail media, start to realise the value of their own media channels. Valuation firm Sonder has just released its annual Owned Media Market Report & Rankings for the '24 financial year and it again contextualises the retail media boom – retailers might be making all the noise around retailer media networks but they represent just one third of the commercial value that brands across any sector can derive from their own media channels. Mike Connaghan, MD of News Corp's Commercial Content division, says his business is booming as the likes of Coles, Bunnings, Officeworks, David Jones and Chemist Warehouse make media revenue from suppliers and use it to fund their own paid marketing efforts as well as turn a healthy margin. Owned media specialist Sonder is seeing the same thing. The likes of ANZ have reorganised operations to put owned channels first – and co-founder Angus Frazer thinks more will follow, especially as pressure on marketing budgets intensifies. Sonder has run the rule over Australia's owned media sector and drops some hints on which brands and businesses might come to market next based on commercial potential. In retail media, Sonder says the ones to watch are Bunnings, Accent Group, JB-Hi-Fi, Mecca and Kmart. In grocery and liquor it's First Choice and Vintage Cellars, while in finance it's Visa and Mastercard. Sonder co-founder Jonathan Hopkins says the broader market is now "at a tipping point" as brands realise they can better engage, upsell and cross-sell to existing customers, and use the income from selling or trading space with their suppliers to fund acquisition bucket filling.
Reflections on the year past
Andrew Thornton, Chair, AMI Board November 2023 As we enter the home straight and round out 2023, I thought it appropriate to reflect on the year your AMI has had. There’s no doubt that the past year has been yet another progressive period for the AMI – in this, our 90th year of supporting… Continue reading Reflections on the year past
Create impossible, unique imagery fast with AI.
When the Brand IQ team first started playing around in AI, it was the entertainment and novelty factor that kept us pushing for more. But as we experimented and learned, we became excited about the potential and possibilities we were seeing. We began creating images for clients in construction, design, travel, food, retirement and professional… Continue reading Create impossible, unique imagery fast with AI.
Harvey Norman exits Rugby Australia sponsorship, leaving second major partner gap
Rugby Australia is facing a significant commercial challenge as Harvey Norman, the naming rights sponsor of the Super Rugby competition since 2021, has decided to withdraw its sponsorship.
Mutinex joins forces with Byron Sharp's Ehrenberg-Bass Institute in pursuit of evidence-based marketing
In a move towards bolstering evidence-based marketing, Mutinex has announced its sponsorship of the Ehrenberg-Bass Institute for Marketing Science, a centre focused on marketing research.
Celebrating and building a culture of learning at ANZ
Written by Stephanie Conti, ANZ Manager, Customer Centricity & Capability. Having worked in HR and making the move to marketing some years ago, it’s been a fascinating time seeing the change both industries face. The culmination of my experience has instilled an important philosophy in me: building a culture of learning in your organisation is… Continue reading Celebrating and building a culture of learning at ANZ
2023 Ethics Index
Media Release – Governance Institute of Australia | Ethics Index (governanceinstitute.com.au) Politicians at all levels of government have seen a significant increase in the public’s perceptionof their ethical behaviour according to the results of the 2023 Governance Institute of AustraliaEthics Index. Based on an independent survey conducted by research company Ipsos, the Governance Institute ofAustralia’s annual… Continue reading 2023 Ethics Index
2023 Board Diversity Index | Governance Institute of Australia
Media Release – Governance Institute of Australia | News & media (governanceinstitute.com.au) Australia still lagging behind on ethnic and cultural diversity but signs point towards growing First Nations representation. The latest snapshot of Australia’s boardroom diversity has found a small but positive improvement in the representation of First Nations’ people in the nation’s top companies… Continue reading 2023 Board Diversity Index | Governance Institute of Australia