Today we are all much smarter. Marketing Science has revealed where the power was hidden, and we can find our own evidence in the vast quantities of data served up daily. There should be no excuses, just success stories. But this not the case.
In 2017, the UK’s IPA shared a summary of what makes marketing campaigns more effective. They analysed the many submissions received for their Effectiveness Awards - and found:
- Penetration, not loyalty, is still the main driver of brand growth.
- Broad reach media is crucial for effectiveness.
- Owned & Earned media help but paid media & budgets are more important than ever.
- Video is the most powerful medium for long-term success.
- TV, VoD and online video work together to boost effectiveness. Similar effects are boosting the effectiveness of other mass media.
While all interesting, the BIG insight was that effectiveness isn’t improving. The IPA surmised why:
- Short-term-ism and an excessive focus on ROMI (Return on Marketing Investment) is partly to blame; as
- They encourage a lower share-of-voice level, but efficiency has fallen too
- They also lead to a focus on activation rather than brand building
- Budget allocations are now activation overweight and are sub-optimal.
This is not a story just about Creative. It’s showing issues with Audience Reach and Connection.