BCAMA Agency Panel - Marketing Highlights For 2012
“70% of consumers won’t buy from a brand they don’t like”. - Jack Dayan, Strategic Planning Director of TAXI West.
This stat is the driving force behind the two main marketing trends for 2012:
1) Communicate your brand purpose; and,
2) Deliver creative content.
In this competitively intensive era, Brands now more than ever need to clearly communicate their brand philosophy, mission and purpose, as these are they key decision criteria behind a consumer’s purchase intent. And with the increasing transparency between companies and consumers due to the internet, companies must ask themselves the following question: “Are we ready to have the curtain pulled back?”
Recently both McDonalds and Apple have been the focus of much debate over controversial practices. McDonald’s being guilty of falsely claiming to deliver quality products when they have been adding processed “pink slime” to plump up their burgers. Apple on the other hand is being judged for poor work place conditions and treatment in China.
This is not suggesting that all brands are perfect, but it is a warning not to conceal poor company practices. According to Tom Shepansky, partner of Rethink, companies that own up to their flaws and “behave more humanly, showing their flaws will be awesome” or rather more “Flawsome”.
To ensure brands are staying true to themselves they must consistently revisit these three questions:
What is our sense of purpose?
Do we love it every day?
Is it shared with the world?
Because now a days it is what you’re saying that counts not how you’re selling it. Bringing purposeful, interesting and entertaining ideas to consumers is the new focus in order to develop stronger relationships and foster brand loyalty.
To highlight this focus Marty Yaskowich of DDB Canada stated that “60% of B2B and B2C companies are increasing spending devoted to content”. Budweiser’s latest Canadian Super Bowl ad is a prime example of this strategy (http://youtu.be/y0qZYqdsYAg) . Rather than advertising their product, the focus was to elicit a strong emotional response to the brand and penetrate into their headspace.
Coca-Cola has also shifted their strategy of fostering creative excellence to providing creative content in to deliver their brand promise of spreading happiness. But does this content have direct relationship to the till?
When looking at content provided in retail, Urban Outfitters announced that 70% of their consumers reported a better shopping experience due to media content. UO witnessed that if you interact with consumer using one or more media outlets such as Facebook, websites and Twitter you will get an average consumer to spend 3 times more than their average purchase amount.
The correlation behind this is that consumers are more informed before they walk into the store. Point of purchase advertising is becoming less effective now that consumers are finalizing their purchase decisions before they enter the store. So in order enter and reside at the top of your consumers consideration set prior to purchase, brands must ask what matters at the heart of their people, then position their brand around that truth, in order to relate with them on a deeper level.
Good content continues to win. If you’re still in doubt, look at cat videos