U.S. department store magnate John Wanamaker coined the phrase that has loomed in the back of marketers’ minds for a century: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
The Philadelphia merchant’s words still resonate today, but only in spirit. Wasted spending may now account for 70 percent or more of a company’s ad spending. Social media and mobile communications are spreading audiences across a wider array of outlets, making it harder to reach targets. New entrants continually appear to vie for coveted markets like online moms.
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