The WARC Podcast Do we need to rethink ‘brand vs. performance’?
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Sep 28, 2023 Jim Stengel, Cait Lamberton, and Ken Favaro discuss the need to move beyond the 'brand vs. performance' debate in marketing. They emphasize the importance of providing value to consumers, measuring brand equity, and optimizing resource allocation using data and metrics. They introduce the FRMU model and discuss the emotional relationship consumers have with brands. The chapter also highlights the influence of the Barbie movie on Mattel's brand and stock price, and the relationship between performance marketing and brand.
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Avoid 'Balance' Metaphor for Marketing
- Balancing brand and performance marketing assumes resources are zero-sum, which limits growth potential.
- Optimizing resource allocation should be the goal, letting balance emerge naturally rather than as a set target.
FRMU Metric Predicts Brand Value
- The FRMU brand metric (Familiarity, Regard, Meaning, Uniqueness) predicts financial contribution and measures consumer emotional relationships.
- This composite metric reveals brand stages from dating to love to boredom, guiding effective brand management.
Barbie Movie Boosts Brand Equity
- The Barbie movie dramatically boosted the brand's Meaning and Uniqueness scores, increasing its cultural relevance and stock price.
- This example illustrates how focused brand efforts can transform consumer emotional connection and business value quickly.