Posts Tagged ‘Brands’

Finding the marketing sweet spot for the Finance Department

Monday, July 20th, 2015

There’s always been a palpable tension between CFOs and marketers, but now research conducted by Marketing Week, means it’s quantified. And the reason why is probably clear in this one stat:-

76% of finance executives cannot put a figure on the financial return generated
by a company’s marketing.

In the world of marketing, metrics are everything. We’re obsessed with digital and measuring the amiability of our brand’s social life. The industry’s media, commentators and ‘experts’ are constantly banging on about qualifying our actions and campaigns… yet somehow it seems to be missing a key stakeholder – the money holders!

In management terms, marketers are great at talking and full of self-belief (a fact which belies the discrepancy between marketers and finance executives’ views in the charts below).

Sheena Blog

There is no question that marketing, as the articulator of inspiration, is the natural home for innovation and creativity in most organisations. But if the talk isn’t converted into tangible outcomes, and by tangible I mean results that a board can get their head around not just the comms fraternity, then it won’t inspire commercial confidence (hence 43% of finance executives didn’t agree that the head of marketing has a strategic influence over their business).

Marketing tends to be one of the biggest outlays in an organisation, and as such it needs to be justified not indulged, worth it, not worthy. Knowing the marketing spend is not the same as knowing its value, and speaking brand is no longer enough. We need to speak business and especially “returns”.

The importance of getting this right is both self and brand serving. The research found that less than half of organisations studied had marketers on the board and it’s not a big leap to connect this with marketing’s inability to instil confidence in the discipline’s merit as a business function and cost base. There is a clear link between market-centric companies and performance, and between brand and share value. But just because we as marketers know this exists doesn’t mean we can rest smugly on our laurels. We need to prove our relevance along with our commercial credentials week in week out. To communicate our plans, our results and our analytics, and to do so to the broader management including finance.

We need to be critical of ourselves and see our strengths and weakness through others’ eyes. And we need to ensure we communicate a commercially-based brand strategy, and not just disparate disciplinary tactics. Because in order to be more quantifiable and accountable, marketing needs more synergies than silos.

Facebook Places

Thursday, August 19th, 2010

Facebook has officially launched Places, the social network’s location based platform. Users will now be able to check-in to Places created by both people and businesses. It will be interesting to see how this develops, with over 500 million members and growing, Facebook provides access to a lot of potential customers for businesses. The most successful brands on Facebook are those that engage with fans to build brand loyalty as opposed to pursuing the hard sell angle. So, it will be interesting to see how brands engage with customers and encourage them to check into the brand’s Place as these check-in stories should generate invaluable impressions in friends’ news feeds, extending the brands reach to new customers.

Starbucks have 10 million fans

Friday, July 23rd, 2010

Ever wondered what Starbucks and Lady Gaga have in common? Well now both of them have exceeded 10 million fans on Facebook. Starbucks are the first brand to exceed 10 million fans and Lady Gaga was the first living person to clock up that number and counting. After the success of the Old Spice ‘the man your man could smell like’ campaign, it will be interesting to see how brands engage with their fans online. Starbucks attribute their success to the brands popularity and support from marketing, promotions and advertising. Their success is even more apparent when you think that their nearest brand rival has just under 7.5 million fans, still a colossal number but nowhere near 10 million.

Social Media Revolution Refresh

Wednesday, July 14th, 2010

The first version of this extremely popular presentation based on the book,  Socialnomics by Erik Qualman received over 2 million views on YouTube when released in 2009, this refresh from May 2010 features updated stats and has already received over 490,000 views. It’s a useful tool when trying to convey the impact social media continues to have and the speed at which change is occurring.

Grolsch and the World Cup

Friday, July 2nd, 2010

Some things are made for each other tea and toast, Tom & Jerry, beer and football. Dutch brewer Grolsch has developed an interesting concept, lending a fridge to people whose fridge breaks down during this year’s World Cup. The first 40 people to call the Koelkast Hulplijn (fridge hotline) before June 19th received a fridge on loan from Grolsch.

MC² announces research findings into powerful brands

Wednesday, November 11th, 2009

As part of its recent launch, MC², the new look Consumer & Brands division of Murray Consultants, commissioned research into well known brands, in association with Empathy Research, which resulted in some interesting findings with regards to brand loyalty and media consumption patterns amongst the hyperconnected18-30 year olds. (more…)