Interviews, insight & analysis on digital media & marketing

Why the marketing industry is analogous to 1800s’ bloodletting and how it’ll be fixed

The inaugural Possible show, which aims to ‘rewrite the future of marketing’,  in Miami opened with a call to arms from Greg Stuart, CEO, MMA Global.

“Marketing is where the medical profession was inI th 1800s, where the primary acitiy was bloodletting, which, largely, killed people. It theoretically made sense but it was fundamentally killing people. Large parts of the marketing industry have the same problem.

We have been working on a net promoter score for marketing departments. It is negative 2%. We just wouldn’t recommend to anyone that they should join the marketing industry.”

He pointed out the reach-based planning was a form of bloodletting, fundamentally flawed. 

But he said “there is hope on the way” and revealed that The MMA now had a framework to measure the real financial value of a brand. 

“We can’t currently tell the CFO the value of brand but now we do finally have an economic understanding of branding,” Stuart. “This is the point of Possible, to make the impossible possible.”

He was followed by Kellyn Kenny, Chief Marketing & Growth Officer, AT&T and MMA Chair, who said the trade body now represents $250billion of ad spend,

“Connection has the power to change everything,” calling on marketers to redouble their efforts to collaborate to improve the entire industry.

NDA is the UK media partner for Possible.