We've never spent more on advertising. It's never done less for us

"Marketing is noble. It keeps pubs and planes full. It turns 25p cans of cola into £2 cans of Coca-Cola. It literally creates GDP out of thin air. This is why it hurts to admit that the marketing machine is failing. We've never spent more on advertising. But it's never done less. Spend up, effectiveness down. Global ad spend is about to hit $1trn in 2025, up nearly 30% in real terms over the past 15 years. More brands, more ads, more cash."

"But the results aren't there. Peter Field's Crisis in Creative Effectiveness showed that creatively awarded UK campaigns no longer grow market share like they used to. In my new work with System1 and Effie Worldwide, analysing 1,256 campaigns across the US, UK, Ireland and Europe ( The Creative Dividend), we saw the same collapse on a global scale. Campaigns are less likely to grow awareness, distinctiveness, trust, fame or consideration."

Global ad spend is increasing rapidly and is projected to approach $1 trillion in 2025, with nearly 30% real growth over 15 years. Despite more brands, more ads and more cash, advertising effectiveness and ROI have fallen. Research indicates creatively awarded campaigns no longer deliver the historical gains in market share, and an analysis of 1,256 campaigns across multiple markets shows reduced growth in awareness, distinctiveness, trust, fame and consideration. Platform-level ROI has weakened, with reported falls in Meta returns, while creativity remains the dominant factor in profitability.

Read at The Drum