What the marketing industry is truly terrified of - Tom Goodwin
Aug 2, 2023
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Tom Goodwin, marketing industry expert, discusses various topics in this podcast. They talk about the state of Cannes, the power of re-using good creative, how AI can solve customer experience, and the significance of attention in advertising. They also explore the marketing bottom and the decline of humor in advertising, as well as the ecological case for buying a second-hand Aston Martin and predictions for the future of AI.
Tom Goodwin emphasizes the need for honesty and provocative thinking in advertising to solve complex business problems.
The marketing industry should shift towards more customer-focused marketing and prioritize understanding customer needs.
The advertising industry should prioritize simple, effective, and easy-to-understand advertising that resonates with consumers.
Media planning should consider the differences between low-attention and high-attention platforms, as well as the quality of creative.
Marketers should unlearn outdated practices and rediscover the intuitive understanding of what resonates with consumers.
Data in marketing decisions should be questioned for relevance and meaningfulness, as it often measures irrelevant metrics or fails to capture the full picture.
Deep dives
Tom Goodwin's Consultancy: Applying Advertising Thinking to Business Problems
Tom Goodwin discusses his consultancy that applies advertising thinking to solve complex business problems. He uses examples like helping pharmaceutical companies transition to digital products and experiences, assisting department stores with strategic decision-making, and managing challenges faced by car companies. Goodwin emphasizes the need for honesty and provocative thinking in tackling these problems.
Fear-based Advertising and the Need for Positive Solutions
Goodwin criticizes the prevalence of fear-based advertising and the focus on threats rather than positive possibilities. He highlights the lack of emphasis on consumers and their concerns, such as the impact of technology on everyday life, economic issues, and environmental factors. Goodwin argues for a shift towards more customer-focused marketing and the importance of understanding customer needs.
Creativity, Constraints, and the Value of Simplicity
Goodwin reflects on the lack of creativity and ambition in the advertising industry. He questions the excessive focus on technological advancements and grandstanding, rather than creating simple, effective, and easy-to-understand advertising that resonates with consumers. Goodwin suggests that the industry should prioritize easy and effective solutions, value human attention, and pay more attention to customer service and experience.
Changes in Media Planning
Media planning has traditionally been based on reach and frequency, assuming that every opportunity to see is the same. However, it is crucial to recognize that there are significant differences between low-attention platforms and high-attention platforms. Additionally, the quality of creative itself plays a vital role in the effectiveness of advertising. Buying media based on who has seen it rather than who could see it can have a dramatic impact.
The Marketing Bottom and Unlearning
The speaker introduces the concept of the 'marketing bottom', which refers to the decline in decision-making ability that marketers experience over time due to learning and adopting unconventional strategies. The speaker argues that marketers often make decisions that are disconnected from the perspective of regular consumers. He emphasizes the importance of unlearning outdated practices and rediscovering the intuitive understanding of what resonates with consumers.
The Pitfalls of Relying on Data
The podcast discusses the potential detrimental effects of relying too heavily on data in marketing decisions. It highlights that while data may seem accurate and helpful, it often measures irrelevant metrics or fails to capture the full picture. The speaker uses examples like Google search results or time spent on websites to illustrate the limitations of certain data points. The importance of questioning the relevance and meaningfulness of data is emphasized.
Lessons from Award-Winning Ads
The podcast explores the impact and trends observed in award-winning ads. It argues that while creativity and originality remain crucial, recent trends have shifted towards purpose-driven advertising and shock value. The speaker suggests that returning to classic advertising techniques and drawing on heritage or humor could be effective in capturing attention and creating emotional connections with consumers.
The Role of AI in Marketing
The future impact of artificial intelligence (AI) in marketing is discussed, with the speaker expressing both optimism and caution. While AI is seen as having great potential in areas like personalized advertising and understanding consumer behavior, the speaker believes that AI should be seen as a tool to support and enhance human creativity, rather than a replacement for it. The podcast concludes by predicting that AI will continue to be a prominent topic of discussion in the marketing industry.
The Need for Creativity and Fun in Marketing
The podcast highlights the importance of creativity and fun in marketing, suggesting that the industry has become too serious and focused on shock value and purpose-driven messaging. The speaker argues for the return of humor, originality, and a sense of enjoyment in advertising. Drawing on examples of successful ads from the past, the podcast encourages marketers to embrace creativity and not be overly reliant on big budgets.
The Power of Not Changing and Rediscovering Heritage
The value of not changing and embracing heritage is discussed in the podcast. The speaker highlights the success of ads that have stood the test of time, emphasizing that drawing on past successes can be a powerful strategy. The podcast suggests that the focus on novelty and trends can lead to overlooking the impact of established and proven advertising techniques.
The Longevity of the Podcast
The speaker predicts that AI will continue to be a significant topic of discussion in the podcast in the coming year. However, he expresses the hope for more nuanced conversations and a better understanding of its limitations. Additionally, the speaker anticipates a celebration of creativity and originality, as AI takes over more routine tasks, allowing marketers to focus on distinctive ideas and approaches. The importance of creativity and a sense of fun in the marketing industry is also highlighted.
The return of Uncensored CMO podcast legend Tom Goodwin. In this final flourishing episode recorded from Cannes Lions Festival of Creativity, in what has become our annual chinwag, we riff on everything from how advertising thinking can build big businesses to why marketeers invest in celebrities, despite the data not backing the value equation. What would our ideal Cannes festival look like? What would we do differently next year…. and where? And why we want to bring back the Tango Campaign!
If you want more Tom, we'll be holding a LIVE Uncensored CMO at The Curzon Soho (not Scunthorpe) with the man himself, on 6th September 2023, discussing the 10 Biggest Myths in the Marketing Industry. Grab your tickets here -> https://system1group.com/uncensored-cmo-live
Timestamps:
00:00 - Intro 00:46 - What’s Tom been up to in the past year? 04:30 - The state of Cannes 06:10 - AI has it’s place 07:22 - The power of re-using good creative 15:26 - How AI can solve customer exeperience 17:43 - Catergories that should be in Cannes 19:43 - The Zero Budget Category 21:11 - Cannes in Margate in February 22:23 - Most fascinating relevations from the pod 24:35 - The marketing bottom 28:54 - The best work in Cannes 31:10 - Working with budget constraints 33:03 - When to invest in innovation 34:16 - What Orlando Wood tells us about how art history can inform great communication strategy 36:09 - Why are great adverts only made for the SuperBowl and Christmas…. And then not run for long enough? 37:48 - Should you use characters or celebrities in your advertising? 40:06 - Most impressive thing in Cannes 45:06 - The Giant Cheeto at Cannes 48:22 - Why we’ve stopped having fun in advertising 54:00 - What will we be talking about at Cannes next year?
