The average F500 company could be wasting around £20 million ($25m) a year, according to new research from data platform Creative X.
According to the research, this translates to £80 billion ($100bn) on assets that are never activated, with advertisers looking to create more content with generative AI but this not necessarily creating more impact.
Creative X found that this was due to a lack of concrete data across the content lifecycle, from creation to activation, leading to marketers having limited visibility into whether and how their core assets are localised.
It argues that tools which can show where and how core assets are localised and used and reused, can help better target budgets.
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“When I hear all the talk about artificial intelligence and how it’s going to revolutionise marketing, my response is that it’s already here,” said The BrandTech Group CEO and founder David Jones, whose company collaborated with Creative X to design.
“It’s already happening, and has been for some years, not just since Chat GPT exploded onto the scene.
“It is disrupting all aspects of marketing. Creative Lifecycle is a fantastic example of an application of AI that pushes way beyond content production, which many brands are now doing,” he continued.
“It gives global brands access to information they have never had before and our teams are in a position to drive a step-change in efficiency, to truly elevate the use of our clients’ best marketing assets, at scale”.
Creative X CEO Anastasia Leng added: “Creative X has been using technology to measure inefficiencies in our content production cycle for years now, but this is probably one of the most wasteful patterns we’ve uncovered to date”.
“Our newest creative data application, fittingly named Creative Lifecycle, allows brands to track how their content is used end to end, providing some much needed transparency on our creative assets’ activation and reusage rates”.
