How to keep your CFO on board for brand building.
“The first thing is to start talking the language of finance. We don’t help our case when we talk about brand-building in terms of awareness, image and ‘touchy-feely’ terms. Brand building is about selling. It’s about revenues and cash flow, but it’s about durable revenues and cash flow, over longer time periods. We have to help CFOs to understand that some marketing activity gives you an immediate short-term delivery of sales,” gotta love Les Binet
Les Binet on why long-term marketing matters in the age of short-termism | WARC
In this exclusive interview for WARC’s annual Marketer’s Toolkit, Les Binet – Group Head of Effectiveness at adamandeveDDB and a leading researcher on marketing effectiveness – speaks to WARC’s Anna Hamill about the practicalities of long-term brand building, how to convince the CFO, and smart ways…
Great read! why adidas shifts its digital comms strategy… “4 yrs ago its #attribution modeling was based on last-click and it didn’t do any #brandtracking. It also focused on #efficiency over #effectiveness, leading it to look at specific KPIs and how to reduce their cost rather than what was in the best interests of its brands.”
“Adidas introduced a new campaign framework with emotional, brand-driving activity at the centre. This was an attempt to connect with consumers around major campaigns three or four times a year, while at the same time Adidas ran advertising with a rational message.”
Adidas: We over-invested in digital advertising
Adidas admits that a focus on efficiency rather than effectiveness led it to over-focus on ROI and over-invest in performance and digital at the expense of brand building.