If you're data-driven, listen to what the data tells you about brand
The WFA's State of Advertising Report confirms much about advertising that I believe we’ve been aware of for some time, but didn’t have the data to verify. Whispers about what advertisers need, and are getting wrong, are becoming a roar, and the report suggests that there is much we can do to adapt to the changes that have reduced success with brand awareness.
- Advertisers are up against increasingly sophisticated audiences, media capabilities and technology
- We’re fixated on short-term tactical solutions for the sake of quick wins, when new research shows that 41 per cent of an Out of Home’s campaign ROI is driven by creative
- There is a dire need for us to market marketing, with organisations such as the AANA aiming is to inspire and promote responsible, innovative and respected marketing through a commitment to sustainable industry collaboration.
Tactical solutions may deliver quick results, but they hurt brands creatively.
During his presentation at the ANA Masters of Marketing conference, Proctor & Gamble chief brand officer Marc Pritchard said, “The immutable laws of brand building don’t change. But how you do it has to change.”
This was a common theme amongst presenters, who referred to brands that had traditionally relied on TV as the main ingredient in their marketing mix, but who are now turning to Out of Home to get their messages across to consumers. Brands like Target, Chipotle and Dunkin’ are now showing how the medium allows them to tell their brand stories with creative impact.
As a media owner, oOh! wants to encourage big ideas, big thinking, and out of the box creative, and support advertisers to harness the medium's full potential to drive brand building and growth across the industry.
The WFA’s report shows 67 per cent of survey participants agree that the industry is too obsessed with its own problems to the detriment of putting the consumer first. I suspect that we’ll see a negative shift in ad engagement and reduced campaign ROI if the focus doesn’t return to long-term brand building, supported by narrative-based activity.The opportunity is there for the taking and the smart marketers are already mobilising. It’s time to look at your longer term brand strategy by readdressing the balance of focus and funds between brand building and performance marketing.