BIG is good, but SMART is better

Posted by on Aug 12, 2013 in Advertising, Cost Transformation, Costing, Marketing, Media, Return on Investment (ROI)

Marketing Effectiveness: There are many occasions when adopting the ‘be big’ attitude works and works well. Large TV advertising campaigns such as Guinness’$20million ‘Tipping Point’ or the £13.4million advert Aviva Insurance used to promote their name change from Norwich Union highlight the potential successes and failures of going ‘big’. They can lead to an award winning memorable and talked about campaign (Guinness), or they can just as easily leave consumers underwhelmed (Aviva).  Like many marketing channels, ‘big’ can be used effectively but how efficient or necessary is it? We understand that certain brands require this approach but for the most part, we prefer to be ‘smart’ rather than ‘big’. Often, being smart with your strategy can provide you with both greater efficiency and effectiveness on your investment, but this doesn’t necessarily mean lower spending. Obviously, you can decrease your spend by being smarter with the marketing channels you use and the activities that you opt for within each of them. However, with marketing budgets normally set in place, the money is already there. So why not spend the same amount but spend it better? This way everyone wins!’ Social media is a good example of being too focused on ‘big’ as many companies invest time and resources in appearing...

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Round-table discussions at The Gherkin

Posted by on Feb 26, 2013 in Advertising, Marketing, Media, Procurement, Return on Investment (ROI), wasted spend

The Marketing Factory is getting ready to host another of their regular networking events on Thursday 18th April at The Gherkin in London. This particular event will be a breakfast round table discussion and will feature experts with media buying and marketing procurement backgrounds. How often do you hear that your media buying agency is getting inside your customer’s hearts and minds in a way that only they can? They use psychographics, geographics, demographics and more to ensure the delivery of your key messages to the right audience in the most cost effective ways possible. Sound familiar? Our argument is that how do you know you’re getting the best value for money or that what they’re advising is actually best for you and not the most profitable for them. Can you review the data and have you asked the questions, the right questions? We’ve spoken to many companies over the years regarding their media spend and more often than not, they’re being told that with their media profile, they are getting the best deal available to them and more often than not, that just isn’t true. We are holding a round-table discussion on the topic of whether you can and should buy direct as well the issues surrounding this. We will...

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Marketing Factory letter published in Marketing Week on the 31st January 2013

Posted by on Jan 31, 2013 in Marketing, Media, Return on Investment (ROI), Social Media, wasted spend

                  Marketers have been warned to take their social media activity more seriously and enforce higher standards of planning, strategy and evaluation into campaigns on sites like Facebook, Twitter and YouTube to boost their effectiveness. ————————————– It certainly is the ‘must do’ of the times but I’ve come across many companies through our social media surveys as well as clients who are simply on-board with social media just for the sake of it. To be on Facebook and Twitter isn’t for everyone and so its use must be approached with a clear and precise strategy separate from other channels. If you are going to utilise social media then do it for the right reasons. The current dynamic of social media platforms make it difficult to analyse the full potential in terms of intrinsic benefits so don’t use them to generate revenue. What they are incredibly good at is connecting like-minded consumers together to what they’re interested in. Providing valuable content and interaction is the key to drive your social media strategy and should be initiated accordingly. Having clear objectives and accurate planning will allow you to maximise these strategic benefits creating a stable base for your company to grow. If you’re...

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Are Media Agencies taking Advantage of you? – A Marketing Procurement Breakfast at The Gherkin

Posted by on Nov 28, 2012 in Costing, Marketing, Media, News, wasted spend

We’ve just held another of our Networking Events which focus on current trends and topics of the marketing and marketing procurement world. This particular event was a breakfast round table discussion focusing on Media Agencies and the transparency in billing with particular reference to unbilled media and rebates. We held this breakfast in a private dining room on the 32nd floor at The Gherkin which proved to have, as expected, great views of a surprisingly sunny morning in central London. This was also the first visit for many of the attendees so a fair few photos were taken which brought out the tourist in all of us. This event featured special guests Adrian Jenkins, a forensic accounting expert and Eduardo Salazar, a marketing effectiveness and analytics expect to shed some light on these areas of potential savings and inefficiency. We assembled senior marketing, marketing procurement and financial representatives from major organisations from FMCG, Fashion, Food & Drink and Finance industries to join the experts to share information, experiences, concerns and even some horror stories regarding this hot topic. The attendees were able to voice their opinion with other like-minded professionals, providing highly insightful and interesting discussions and debates. We found that these problems and issues are not unique to any one company size...

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It’s all about expertise. Marketing Procurement IS complex.

Posted by on Sep 11, 2012 in Media, Procurement

With all due respect to the many procurement people out there, consultancies and internal departments alike. Unless you have multi sector, category specific knowledge – (that’s growing by the day) it’s just not going to cut it anymore. There are some excellent procurement consultancies out there that work across all the usual categories, and in this mix they normally cover marketing procurement.  As far as we can see, based on the work that we pick up after they leave, they generally lack the deep category knowledge required. This problem is exacerbated by the suppliers out there, in particular the big agencies, that are incredibly sophisticated, have vast experience and an army of lawyers and commercial specialists who’ve been through this process dozens of times. It’s time for client companies to realise that unless you are immersed in the subject and have a pool of people who truly excel in their own specialist areas, you are never going to get the results you desire. The same problem exists within the ranks of clients’ own procurement departments. These very able people come from a wide range of procurement specialisms and aim to apply all of the same principals to the marketing category. Sure, some of this knowledge will carry across, however...

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