The WARC Podcast Marketer's toolkit 2025: Capitalising on the economic reset
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Jan 9, 2025 Guests Ken Favaro, Chief Strategy Officer at BERA.ai, and Joanna Seddon, Managing Director at Prescient and CEO of the Marketing Accountability Standards Board, discuss the evolving landscape of marketing post-economic reset. They explore the vital role of brand equity in building consumer relationships and stabilizing prices. The conversation emphasizes bridging gaps between marketing and finance to showcase branding’s financial benefits. They also highlight the importance of consumer insights and emotional connections for navigating economic challenges and driving profitability.
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Brand Equity Counters Price Sensitivity
- Brand equity is a powerful weapon against consumer price sensitivity, showing much stronger impact than income or inflation.
- After years of inflation, now is especially crucial for brands to strengthen emotional consumer relationships.
Elevate Marketing with Financial Proof
- Marketers must demonstrate financial outcomes of marketing in CEO/CFO terms to elevate marketing's influence.
- Understand and convey how marketing drives shareholder value and integrate insights into business strategy discussions.
Marketing Controls Limited Brand Equity
- Marketing drives only about 15% of brand equity; the rest comes from all other consumer touchpoints.
- Marketers need to leverage consumer insights to influence C-suite decisions and show brand's impact on pricing power.