1. look at the total brand experience to influence sales: closer to the supply chain. rise to ecomm is back to basics: bigger packages and no impulse buying. total experience of the brand: buying, shipping, unboxing process.
2. rethink performance media to get closer to the sales: merge e-comm spend with paid media. race to shoppable formats: messaging to sell. e-commerce platforms become media owners. rise of live streaming (shopping shows on e-commerce platforms)Virtual influencer on WeChat to create community: Daily perfect makeup brand: https://www.marketingtochina.com/perfect-diarys-successful-strategy-on-wechat/
3. resist the shift to short-terminism. look beyond attribution models. reserve budget for brand-building. 56% tried something new during covid19 and continues who owns the data, owns the relationship. For this reason, Nike pulled back from Amazon.
“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…
“This isn’t an attack on digital, but on the short-term thinking it has created. With digital and big data came tighter targeting and a razor-sharp focus on short-term ROI. Yet, ROI increases are an addictive drug, one that’s hollowing out the brand and leaving an empty carcass.” Tx to Antoinette Hoes for sharing
Love #data “Short-term measurement hurts long-term potential”,
“Just because digital data is instant, we tend to read it in the short-term and plan it in the short-term. Yet this study suggests that we need a long-term measurement strategy for digital that allows us to understand how it works in both long- and short-term.”