Why Marketing RoI requires more than creativity
Whether it’s the Axe Effect, or the Coke Open Happiness medley, some Ads are indelibly etched in our minds through the power of creative advertising. Marketing’s real challenge is to create those winners and demonstrate impressive marketing RoI. The ads that create brands. The ads that stay with us for a lifetime. Creating such magic has been the turf of a gifted few in advertising. In a sense, it is not an exaggeration to say that the primary driver of marketing value is creativity. That is why the creative person that dreams up the magical advertising concepts is so revered.
But the new kids on the block, are steadily displacing the way marketers have thought about marketing. And guess what? These infants of yesterday, Analytics, Technology, and Interactive Media seem to be on high growth steroids and worse still seem to be ganging up !
Instead of considering these new kids as a threat, marketers should consider these as a new array of tools at their disposal. Using these new tools marketers can derive deeper insights, design response assured campaigns, generate compelling creatives, and track
response; in short, demonstrate marketing ROI for all marketing initiatives…
Current day marketing needs an amalgam of Creative, Media, Technology and Analytics and hence reliance on a pure creative play will definitely not be sufficient to stay in the game. Trust led advertising models in social media, omni-channel variety from big-data analytics, and smart mobile devices has given us more real-time information about our TG and customers than ever before, further compounding to our woes is media saturation with close to negligible consumer attention.
Hence marketers are forced to be Creative in their judgement in terms of utilizing the new array of tools and technologies, leveraging insights from data and tools to understand the impact of pulling the Media, Creative, Analytics, or Technology levers, and how each action influences customer response and ultimately behavior.
And to reach and engage consumers effectively, marketing organizations must not just
understand how people use devices and the different types of media they prefer on those devices, but also understand the attributes and limitations of each media channel, and why and when consumers switch between them.
Finally creating marketing programs specifically for your Customer type requires understanding how, when and why people use:-
b. Consume Media
c. Switch between channels
then reach out to consumers…to survive and succeed
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