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Marketing in the Era of Accountability
It is widely accepted that the case studies submitted to the IPA Effectiveness Awards are the most rigorous available. What is less well known is that the competition has enabled the IPA to build a separate database of confidential data about brands, their market situations, campaigns and results. This objective, comparable data is immensely valuable because it observes the conditions of proven, effective campaigns. This publication contains the first full analysis of this data. Based on a sample of 880 campaigns, Marketing in the Era of Accountability not only reveals factors that make marketing profitable, but also exposes practices and myths that lead to waste and inefficiency. The findings in this report are so powerful because the analysis is entirely evidence-based there are no unsubstantiated opinions or theories. Building on this empirical foundation, the report provides dozens of detailed recommendations and best practices covering every stage of campaign development and evaluation. There are of course no off-the-shelf solutions to a successful marketing strategy. But this report reveals proven success factors that can be adopted in virtually any product category.
128 pages, Paperback
First published May 21, 2007
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August 23, 2022
If you work in marketing you should probably read this paper.
Binet explores effectiveness and accountability across all aspects of marketing. From what should be included in a brief, to budget setting, communication strategy, and best practices on measurement.
I can guarantee you will probably learn something you didn't know. I've listed out a few points that I found quite interesting.
1. Focus on penetration as KPI, rather than a 'loyalty measure unless penetration is already maximised.
2. Econometrics is probably the most accurate method for setting budgets. However, when such methods are unavailable, the share of voice (SOV) method is extremely useful.
3. Emotional approaches generally work better than rational ones, regardless of category, through the intermediate effects on brand health are not always easy to measure.
4. Direct response requires a more rational approach. But also consider using emotions to 'warm up' consumers before they start actively shopping.
5. Integrated multi-media campaigns work better than single-channel ones (although evaluation is more difficult)
6. Don't neglect TV. Far from being dead, TV advertising remains one of the most effective and efficient media.
7. If longer-term brand effects are an objective, as opposed to short-term response, judge all media opportunities on their power to enhance the ability of communications to engage emotionally with consumers.
8. Look for correlations between campaign effects and exposure to the campaign, not recall of it.
9. Make sure payback is correctly calculated based on the incremental profit generated by the campaign compared to what would happen if it hadn't run.
Binet explores effectiveness and accountability across all aspects of marketing. From what should be included in a brief, to budget setting, communication strategy, and best practices on measurement.
I can guarantee you will probably learn something you didn't know. I've listed out a few points that I found quite interesting.
1. Focus on penetration as KPI, rather than a 'loyalty measure unless penetration is already maximised.
2. Econometrics is probably the most accurate method for setting budgets. However, when such methods are unavailable, the share of voice (SOV) method is extremely useful.
3. Emotional approaches generally work better than rational ones, regardless of category, through the intermediate effects on brand health are not always easy to measure.
4. Direct response requires a more rational approach. But also consider using emotions to 'warm up' consumers before they start actively shopping.
5. Integrated multi-media campaigns work better than single-channel ones (although evaluation is more difficult)
6. Don't neglect TV. Far from being dead, TV advertising remains one of the most effective and efficient media.
7. If longer-term brand effects are an objective, as opposed to short-term response, judge all media opportunities on their power to enhance the ability of communications to engage emotionally with consumers.
8. Look for correlations between campaign effects and exposure to the campaign, not recall of it.
9. Make sure payback is correctly calculated based on the incremental profit generated by the campaign compared to what would happen if it hadn't run.
Displaying 1 of 1 review