WPP CMO: Renting data the right approach
WPP’s new chief marketing and growth officer, Laurent Ezekiel, says renting data, not splashing on big buys like many of its competitors, is the right approach (AdAge)
Key points
- Says WPP refocusing on creativity and transformation, though data remains “incredibly important to us”
- Renting data is “the right approach”
- Says renting data still provides access to first party data
The former Publicis exec’s comments imply his erstwhile employer’s $4bn bet on data may not be the right approach. While Dentsu and IPG have also spent big on data, Omnicom’s John Wren also recently affirmed its commitment to renting data rather than risk being stuck with legacy data assets “that can easily become obsolete” in face of change.
“In a world that is changing as quickly as ours … that is a smart approach,” said Ezekiel.
In a broad ranging interview, Ezekiel also suggests the divergent paths the holding groups are now taking should start to see some differentiation in the coming years – as WPP streamlines and doubles down on creativity, and others work to integrate their big data acquisitions.
He also states that WPP is moving towards different remuneration models: “There will definitely be more performance-based deals going forward. We've also been asked to be paid for output, so not just the time. And increasingly going into business with our clients – a bit more co-investing … which means we become even closer partners.”
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