From digital marketing’s annus horribilis to the damp squid of virtual reality, these are the cautionary tales marketers must avoid emulating next year. A catalogue of unfortunate revelations have dogged digital marketing in 2017, chief among them being the world’s biggest advertiser cutting over $100m of digital spend with no negative impact on sales. That was Procter & Gamble chief financial officer Jon Moeller’s statement to investors in July, when he explained it had set out to slash misplaced ads and fraudulent impressions. As a result, “we didn’t see a reduction in the [sales] growth rate”, Moeller said. “What that tells me is that the spending we cut was largely ineffective.” That came after P&G chief brand officer Marc Pritchard had labelled the digital supply chain “murky” in a much-heralded speech in January. P&G’s arch FMCG rival Unilever, the world’s number two ad spender, also cut back digital investment by up to 59% between January and May compared with the same period in 2016, according to data from MediaRadar. Both companies cut the number of sites they advertised on, as well as the amount spent. These high-profile budget cuts came in the wake of some bad press for the digital advertising giants, Facebook and Google. Read more here…

thumbnail courtesy of marketingweek.com