As we come out of lockdown, solid foundations and a clear brand strategy are vital to guide short-term tactics and ensure long-term shareholder value, former group marketing director at Royal Mail.
Learn how Nationwide used comedy to reframe how consumers’ view their finances and arrest the decline in savings rates.
While some brands have been forced to ramp up their focus on short-term ROI, others have held their nerve and sustained their commitment to brand building with a view to the world post-pandemic.
Journalists reported VW’s fake name change to Voltswagen as a botched stunt, but it made the brand more famous for electric vehicles, which is exactly what it wanted.
The three C’s of customer, competition and company may need to take a back seat to context, as brands adjust their KPIs to meet the demands of the Covid-dominated business environment.
When analysing simple metrics like NPS marketers can’t look at the number in isolation, they must frame it within a wider context, diagnose what it means and ask how it can be improved.
While it is important to understand its limitations and resist an obsession with short-term thinking, return on investment remains a powerful metric for marketers when used correctly, says Henkel marketing boss Nikki Vadera.
The best way of measuring digital marketing’s brand impact is to use “old school” methods such as econometric analysis, brand lift studies and customer research, according to Jerry Daykin.
The investment may be large and specialist talent hard to find, but Paddy Power marketing boss Michelle Spillane believes working with in-house econometricians is a recipe for success.
Economist Grace Kite urges marketers to get under the bonnet of their econometric modelling to ensure the work is robust and doesn’t go to waste.
By putting rigour into their long-term strategies and adopting an outcomes-focused approach, marketers could create a culture of flexibility, says Nationwide CMO Sara Bennison.
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here
Samuel Day admits it’s not easy to get internal stakeholders on board when implementing a long-term strategy, but says in order to do so marketers need to educate CEOs and CFOs in the principles of marketing.
At the end of every week, I look at the key stories, offering my view on what they mean for you and the industry. From Hotel Chocolat’s smart use of first-party data to Nationwide’s focus on consistency, it’s been a busy week. Here is my take.
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