As 'Tech' Company, Yahoo Is Giving Ad Agencies A New Look: The Cold Shoulder
In the eight-plus months since Marissa Mayer became Yahoo CEO, the company has spent a lot of time trying to win over consumers, new hires and entrepreneurs. Just this week, it continued a months-long acquisition spree in mobile, buying Summly, a mobile news app created by a 17-year-old wunderkind.
Yet while Marissa Mayer goes on the "Today" show to talk about Yahoo's new homepage and talks to Wall Street about the portal's "daily habits," its advertising clients are growing tired of waiting for both attention and insight into Ms. Mayer's vision, according to about a half-dozen senior executives at big holding-company-owned media shops.
Wall Street certainly has confidence in Yahoo under Ms. Mayer; the company's stock price is up more than 50% since she became CEO. At the same time, many in the industry feel that the displeasure among ad agencies will catch up to the company in the long run, if not remedied soon. A key part of that remedy will surely be the executive it hires to run its Americas business -- that search is the focus of much industry interest. But some execs warn it can't afford to wait.
"It's crucial. Absolutely crucial," said one senior agency executive, who would only speak about what he described as a deteriorating relationship with Yahoo on a condition of anonymity. "I don't know what their strategy is, but if it includes agencies then they are going to have to fix what they currently have."