By Nigel Hollis, Chief Global Analyst, Millward Brown
Globally, we now spend more than three hours a day consuming mobile media but consumers remain more receptive to TV ads. Millward Brown’s Duncan Southgate assesses how to convert the time spent into brand building.
Everyone knows how to generate more sales—all you have to do is drop your price and sales are likely to increase. While price promotions can increase short-term sales volumes, the long-term consequences of training consumers to expect cheaper prices are dire—margins suffer and investing in advertising and innovation becomes harder and harder.
In a previous Point of View, How Big Data Liberates Research, author, Bill Pink argued that big data is not replacing research—it is liberating it. Being liberated from generating a new survey for each new learning occasion, ongoing big-data assets can be leveraged for many topics, allowing subsequent primary research to go deeper and fill in the gaps. Instead of relying on bloated surveys, researchers should keep surveys short and focused on those variables that they are ideally suited for, resulting in better data quality.
It has become a mantra: “Recent learning from cognitive science is challenging long-held assumptions of the market research industry.” And the mantra is true—but not in the way most people think. The typical assumption is that new research into fast, instinctive processing supports the idea that people’s considered responses to survey questions are just the tip of the iceberg—that the bulk of the meaning that brands hold for people is below the surface.
When marketers think of multiscreening, they often see it is a new challenge or obstacle: “How do I compete with the distractions of the smartphone or the tablet, while my audience is watching TV?” Marketers tend to view these distractions as a new problem. They are not.
Samsung made quite a splash at the Oscars. The much ballyhooed "selfie" that Ellen DeGeneres took with her celebrity guests generated unprecedented buzz. According to social media tracking site Kontera, Samsung was generating over 900 mentions a minute immediately after the snap. However, when Ellen snuck backstage during a commercial break, Samsung did not go with her. The “promo” was over and Ellen was happily back to tweeting on her iPhone… and then the question became, can Samsung buy ‘love’, and if so, does it need to?
A brand is an intangible yet powerful corporate asset. Merlin Entertainment's recent flotation and Twitter’s IPO have both highlighted the impact of strong branding and marketing on a successful listing and a share price that soars.
Angry Birds, Candy Crush, Words With Friends—if you’ve not played them,
you’ve likely heard of them. These games had their beginnings as mobile apps
but over time have built themselves into strong brands. Angry Birds even went
on to expand into a multibillion-dollar franchise. And now, established brands
are creating apps too. You might be surprised at how many there are; among
the 2013 BrandZ™ Top 100 Most Valuable Global Brands, 89 brands have
designed and launched an app, and some have produced more than one.
Being different is scary. In marketing, trying something different is really scary. Nobody wants to be the marketer that messes up a multimillion-dollar brand. It’s easier to play it safe, relying on what has worked before or for others. That must be why I’ve often heard from clients that there is a certain way to advertise in their category—for example, TV ads for men’s razors must start with a 10-second story, continue with a 15-second product demo, and end with a 5-second joke. “This is how we must advertise in order to succeed,” they say.
With eighty percent of U.S. population growth during the next five years coming from multicultural segments, there are major implications for brands. Using the Brand Cross-Cultural Index, a new tool powered by BrandZ™ and based on the Meaningfully Different brand equity framework, Millward Brown’s David Burgos and Ogilvy’s Jeffery Bowman take a look at brand equity across racial and ethnic segments and share key insights for driving brand growth in a multicultural market.
At the recent Australian Effie Awards, the judges decided not to give an award in the Long-Term Effects category. Journalist Rosie Baker, who found it worrying that there wasn’t any work worthy of a long-term award, wrote an opinion piece in which she said: “The pressure to deliver instant results means that people are hobbled in their ability to look long term. It’s difficult to look long term when the axe falls after two poor quarters. But by not looking longer term, the industry is doing itself a disservice, and it is a hard cycle to break.”
Researching the instant meaning of brands yields a different picture of consumer choice, writes Graham Page, executive vice-president at Millward Brown
This is no time for branding as usual. Consumers have developed immunity to traditional marketing tactics—they fast-forward through TV commercials, block online ads, and overlook outdoor displays as they attend to their smartphones. A brand whose basic marketing strategy relies solely on conventional methods is unlikely to survive, let alone thrive, in today’s crowded and competitive categories.
The strength of creative is an important factor that will influence whether an ad will go viral. To identify the creative criteria for viral success, Millward Brown recently conducted a research study on the power of viral video ads.
Ad researchers should be forgiven for feeling a little beaten up in recent years.
In the face of compelling evidence from the cognitive sciences that points
to a less rational, less idealized consumer than conventional economics has
assumed, they acknowledged the need to measure emotion and other “fast”
reactions as well as people’s “slow” or more considered responses.
There is a tidal wave of conversation about big data. The conversations range
from simply defining what big data means, to the business applications of big
data, to the societal implications of living in a big data environment. A quick
Google search on “big data” provided 1.66 billion results, and I’m sure that
number has increased since I wrote this Point of View.
As the modern media landscape continues to fragment, advertisers are presented with a multitude of media choices. It can be a challenge to understand which media to employ, and understand how these fit in a wider communications plan. Leonie Gates-Sumner analyses how targeted media can help deliver the brand impact of multimedia campaigns.
Billions of dollars are spent on digital marketing each year, and for good reason. Digital media has enormous power to reach and influence people. Over 2 billion people—about one-third of the global population—now access the Internet. Facebook alone reaches one-seventh of the world’s population. Smartphones are the dominant means by which people surf the web in India.