Balancing skills and Tesco’s media play: Your Marketing Week
At the end of every week we look at the key stories, offering our view on what they mean for you and the industry. From the rise of retail media to building marketing teams for success in 2022, it’s been a busy week. I’m stepping in for Russell this week, so here is my take.
Support team
2022 has been described as a transition year. The year when people begin to settle into some form of post-pandemic routine and we realise what the ‘new normal’ actually looks like.
It will also be a transition year for marketing teams, both in terms of how they address these changes and the skills mix they need to do so.
We’ve written a lot about the rise in demand for digital, data, ecommerce and social expertise, but this week we kicked off a focus on teams with a feature looking at how brands are working to ensure they have the right balance of skills going forward.
As the fight for talent intensifies brands are exploring new ways to ensure they have the right skills mix. Clearly there is no one-size-fits-all solution. For Specsavers it comes from implementing a matrix model whereby different areas of the business can draw on technical specialists elsewhere in the company. Meanwhile, General Motors has embarked on a global upskilling programme to get its marketers where they need to be, and UKTV says it has had success from switching up the recruitment process and hiring people it would not previously have considered.
We can’t know for sure what 2022 is going to bring, but having the right skills mix in place will ensure marketers are in the best position to tackle the challenges and opportunities that arise.
The rise of retail media
Loyalty schemes have long been a valuable source of customer data for retailers, providing them with an in-depth understanding of buying habits, preferences and shopping behaviour. But retailers are increasingly realising the power they hold and what they can gain from sharing these insights with brands. All the more relevant as third-party cookies are phased out.
In September, Boots launched a media agency built on the data it collects from its 17 million Advantage Card members. And earlier this week Tesco unveiled its media and insight platform, opening up the wealth of data it gathers from its 20 million Clubcard holders to brands and agencies for the first time. Using this first-party data, brands will be able to buy highly targeted ads across Tesco’s channels, which presents a big opportunity as the supermarket says it is able to reach 58% of the British population each week.
Not only does the move bring in additional revenue for retailers, it also strengthens their ties with brands from a B2B perspective. It has the potential to completely transform these relationships. Plus – and perhaps just as important – it positions retailers as a leading source of customer insight. At a time when brands are increasingly clamouring to build direct relationships with customers, it highlights just how close big retailers like Tesco and Boots already are with theirs.
The year in campaigns
If you haven’t already, do check out Marketing Week’s round up of the best campaigns of 2021. In what can only be described as another challenging year, it’s great to be able to celebrate some of the stand-out work you have all been creating.
These campaigns have been selected for their innovation, effectiveness, creative brilliance and success in shifting the dial. Part one can be found here, and part two in the link below.
We will soon be opening up a poll to help us crown the marketing campaign of the year, so stay tuned.
Stat of the week
6% – Aldi’s Christmas campaign scored in the top 6% of all UK ads for both distinctiveness and enjoyability
The supermarket’s sixth instalment of its much-loved Kevin the Carrot campaign has been crowned the most effective Christmas ad of the year, beating off tough competition from Coca-Cola, Lidl and M&S.
The ad also scored in the top 6% for humour and brand cues, in the top 16% for driving affinity with the brand and in the top 23% for its power to contribute to the business in the long term.
At a time when many brands opt to pull on heart strings, it’s refreshing to see a bit of humour. And Kevin the Carrot is a great example of a brand character continuing to pull his weight.
The week ahead
Next week we will be revealing our trends for 2022: the things that will be high on the agenda for the coming year and how marketers should be tackling them. We’ll also be continuing our focus on teams.