It’s safe to say marketing effectiveness is a hot topic. While perhaps not the most alluring job of the marketing function, it’s up there as the most important for marketers to wrap their heads around.
To help unpick some of the key challenges and opportunities, Marketing Week’s Festival of Marketing launched its Currency of Effectiveness series earlier this year, sponsored by Ebiquity and System1.
Catch up on the first episode where Marketing Week columnist and Mini MBA founder Mark Ritson hosts a panel featuring Helen Jeremiah, vice-president and marketing director at Walgreens Boots Alliance, Priya Patel, group director at Ebiquity, and Orlando Wood, chief innovation officer at System1, to discuss what actually works when it comes to achieving effectiveness.
The panelists discussed how brands can use media strategy and creative effectiveness to turn excess share of voice into “effective share of voice”, why being “super-targeted” with media channels “rarely” delivers ROI, as well as how creativity factors into effectiveness.
They also offered insight into how smaller businesses can set an effectiveness agenda and what to expect when growing the budget and showing its value.
“One thing that we’ve done that’s worked quite successfully is demonstrate a return on a small level of investment, by working with your CFO,” said Jeremiah. “So if you can demonstrate a return on investment to your finance team, they will quite quickly go, ‘Wow, I can see and feel the results’. And then offer more on this.”
Watch the video above for the full discussion.
The Currency of Effectiveness is brought to you in partnership with System 1, Ebiquity, Salesforce, Digitas, Ozone, Little Dot Studios.