Marketing Power for a Digital World
We make brands powerful. That’s our promise, and our purpose in creating Truth Strategy.
But what gives a brand power? In the old days the answer was mostly money, combined with clout in retail. Big consumer marketers like Coca Cola or P&G could buy market share, surround you with an expensive ad campaign and watch the cash register ring. If they declared “Coke is it” or “Choosey mothers choose Jif” enough, people would believe them. It was a one-way conversation shouted from the top down. Resistance was futile. Sure, it helped to have a decent product, but in many categories it wasn’t even necessary. Ask the people at Kraft about Velveeta.
Those days are gone. Rapid shifts in marketing power have occurred across every category. As Dylan wrote, “The loser now will be later to win,” especially if they had the foresight to understand the importance of digital transformation. The times indeed are a changin’.
So what is marketing power for a digital world? Where does it come from and why is it so hard to gain? Clearly, it’s not as simple as a shift in media allocation from traditional to digital channels. In fact, P&G just announced more than $100 million in cuts to digital spend because it had “no impact on the business.” Oops. Awkward.
And yet, not surprising. We all know from our own behavior how ineffective a banner – however animated it might be – is in own decision-making. Video pre-roll? Skip in 5 seconds. Native advertising? I won’t even take a swing at that lob.
Of course, that’s not to say there aren’t awesome, high impact digital, mobile and social experiences that help grow a brand, and I will get to those in future posts. But chances are they are the hard-earned rewards of companies that have embraced five essential shifts to transforming their marketing: Organization. Talent. Technology. Data. Partnerships. Our strategic process, Truth to Power™, provides a roadmap for that journey, and we can’t wait to share it with you. As they used to say back when people watched commercials... Stay tuned.