On Strategy Showcase Les Binet and Sarah Carter on what's next in effectiveness
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May 28, 2024 Marketing experts Les Binet and Sarah Carter discuss the evolving landscape of marketing effectiveness, emphasizing the balance between creativity and effectiveness in agencies. They explore premium branding strategies, revolutionizing ad testing methods with AI, and the importance of TV spots and brand building. The podcast delves into the evolution of pre-testing goals to predict real-world outcomes and the need for emotional elements in testing strategies.
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Advise Where The Next Dollar Goes
- Act as an independent advisor and recommend where an extra marketing dollar should be spent across price, place, product or promotion.
- Evaluate options by asking which spend will best drive the firm's specific growth objective.
Measure What Makes Profit
- Proper effectiveness means focusing on what generates revenue and profit for the business, not only awareness metrics.
- Single measures are insufficient; triangulate using attribution, econometrics and controlled experiments.
Academic Principles Are Mainstream
- The marketing community now has much greater awareness of academic principles like Ehrenberg-Bass than decades ago.
- This shift enables planning and training to apply universal marketing laws more broadly in practice.