In today’s Digest, we discuss WPP cutting outlook after client losses, Seedtag appointing Brian Gleason as CEO, and trust being ranked key business driver.

WPP Cuts Outlook After Client Losses

WPP has cut its full-year profit outlook following a sharp slowdown in new business and mounting client losses, sending its shares tumbling from 16% to 444 pence, the lowest level in 16 years. The world’s second-largest advertising group said the setbacks have further widened the gap between itself and industry leader Publicis Groupe.

CEO of WPP, Mark Read, who is set to exit the company before year-end, told Reuters in an interview that, "Partially it's WPP, in the sense that our new business performance and the timing and phasing of new business didn't help us, and partially it's more macro uncertainty in the broader economy."

Seedtag Appoints Brian Gleason as CEO

AI adtech firm Seedtag has named industry veteran Brian Gleason as chief executive officer, effective 1st August. Gleason most recently served as global chief revenue officer and president of retail media at Criteo, which he joined in 2022. His move marks a strategic leadership shift for Seedtag as it scales its contextual AI capabilities across global markets

Describing Seedtag as the cutting edge of the AI revolution that’s transforming the industry, Gleason noted that the company represents a return to “what advertising was meant to be.”

Trust Ranked Key Business Driver, IPA/FT Study Finds

A new study from the IPA and the Financial Times, Bridging the Trust Gap, now ranks trust as the second most influential factor driving business outcomes such as profit, market share, and customer acquisition, up from sixth place two decades ago. Drawing on insights from over 750 senior global B2B decision-makers within the FT’s reader panel, the report reveals that trust now ranks as the second most powerful driver of business outcomes behind only product or service quality.

Despite increased commercial and reputational risks amid rising uncertainty, declining human interaction, and growing concerns around data and AI, many industries are still failing to meet customer expectations around trust. The report warns that failing to address the trust gap can result in commercial setbacks, including lost revenue, stalled growth, and diminished market influence. To counter this, it proposes a framework for building and operationalising trust, centred on five key pillars: competence, reliability, integrity, intent, and communication.

Commenting on the findings, FT CEO Jon Slade said: “ Our latest report explores trust not as an abstract ideal, but as a measurable driver of business performance – in marketing, in brand strength, and importantly, to the bottom line.