General Electric is taking a U-turn on its comprehensive digital strategy by slashing GE Digital's budget by a quarter, accounting for around $400 million of spend, as the company is struggling to keep up with its digital transformation ambitions, writes Steve Lohr. GE Digital's William Ruh says cuts in spending are not a result of the company backtracking on digital, but instead a "pivot" to tailoring its Predix software to existing industrial customers, instead of creating all-purpose solutions.
A study of 34 million engagements on DocSend, which salespeople and marketers use to share content with prospects, offers four key findings about content marketing: Prospects spend an average of around 2 and a half minutes viewing content; mobile-ready content is important at the start of the buying journey but then desktop takes over; there's no optimum day for sending content, which should instead be tailored to individuals; and business-to-business buyers still prefer case studies over other formats.
Bloomingdale's is rolling out a "Heart of N.Y." push that features famous residents of the city including Sarah Jessica Parker, Alan Cumming and Christy Turlington Burns. The campaign includes outdoor ads, wrapped buses, print advertising and a dedicated site that includes videos of featured stars talking about fashion.
Droga5's new campaign for Under Armour enlists the help of Dwayne "The Rock" Johnson to usher in an upcoming generation of fitness gurus and athletes including NBA point guard Dennis Smith Jr. and "American Ninja Warrior" star Jessie Graff. "Will Finds a Way," tells the stories of each athlete and how their determination to succeed has enabled them to overcome personal obstacles.
Addressability. The real metric behind scale.Interpreting audience metrics can be tricky. Without the right context, numbers can easily be misinterpreted or appear inflated. That's why it's essential for marketers to understand the difference between addressable and non-addressable audiences, as well as how to differentiate between the two when looking at industry reports. Click to learn more.
The worldwide value of mergers and acquisitions within the advertising industry spiked 126% to reach $4.6 billion in the first quarter, driven by nontraditional buyers such as consultancies, R3 reports. M&A activity in the US rose 366% year over year to hit $3.1 billion.
The Google News Initiative -- which involves the collaboration of Google, the Financial Times, the Local Media Consortium, The Washington Post and others to improve content revenues -- shows that in the age of digital media all players need to come together to make the system work, writes David Doty. "The real path forward is through partnerships that leverage the respective expertise of publishers and tech companies so they can serve consumers better together," he writes.
PwC audited Facebook's privacy practices for two years ending in February 2017, during the time of the Cambridge Analytica data breach, and provided a report to the Federal Trade Commission in April last year that states, "Facebook's privacy controls were operating with sufficient effectiveness to provide reasonable assurance to protect the privacy of covered information." Neither the FTC nor PwC has commented on the report.