Advertising.
We understand how it works better than ever. And it’s everywhere. This should be advertising’s golden age.
Yet it’s never been harder for advertising to make an impact.
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Brand reputation.
I’ve never seen the point. As Jeff Bezos famously said, “Your brand is what people say about you when you’re not in the room”.
Where does that leave brand reputation?
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Engage or die.
It was a much-used refrain accompanying the rise of social media.
Nearly two decades later, the precipitous decline in organic reach for brands, and challenges around false measurement and fake followers, make this appear just another example of marketing hype.
Yet ironically, engage or die is even more relevant advice today.
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Brands need to focus more on acquiring new customers in order to grow. It’s advice that has become increasingly widespread.
The ball started rolling with the publication of How Brands Grow by Byron Sharp in 2010.
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How often have you heard the mantra consistency is the key to successful branding? It's been taught as a fundamental branding principle throughout my career.
Yet growing up in retail marketing, this was not my experience.
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In any conversation these days, I'm invariably asked whether customer loyalty is still a thing.
There's certainly been a lot of pointers to its death. Yet examples of loyalty also abound.
Confused? There are a number of realities I learnt from my experience with Tesco, Clubcard, and Dunnhumby which help make sense of this.
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