Date: November 26, 2024
Who owns effectiveness culture: brands or agencies?
The Shared Responsibility of Marketing Effectiveness
Brands and Agencies: A Virtuous Partnership
- Effectiveness in marketing isn’t solely the responsibility of agencies.
- Brands must take ownership while fostering strong partnerships with their agencies.
- Agencies, known for their focus on measuring campaign impact, benefit by proving results and sharing industry insights.
Effectiveness as a Core Brand Responsibility
- Ultimately, a brand owns its performance and its impact on consumer experience.
- Marketing effectiveness integrates product delivery, pricing, promotion, innovation, and availability.
- Brands should focus on how these levers interplay to achieve long-term goals.
More Than Just Measurement
Effectiveness as a Comprehensive System
- A successful effectiveness system involves strategy, creativity, planning, and execution.
- Measurement serves to improve, not just to quantify.
- It focuses on identifying impactful actions and executing them with excellence.
Balancing Marketing Levers
- Understanding the dynamics between pricing, promotions, media spend, and innovation is critical.
- Effectiveness uncovers how brands should allocate resources for maximum impact.
The Importance of Strong Brand-Agency Relationships
Collaboration Beyond Campaigns
- Success stems from shared ownership of campaign results and open communication about investments.
- An aligned agenda helps navigate trade-offs and manage the marketing mix effectively.
Setting Clear Objectives and Roles
- Effective partnerships require defined roles, management strategies, and celebrations of success.
- Creating a written charter can hold both parties accountable.
Incentivizing Success: Commercial Agreements
Balancing Fees and Rewards
- Agencies often risk fees for underperformance, but brands should also reward exceptional results.
- Accounting challenges make enhanced remuneration complex but worthwhile for strong partnerships.
Building Resilient Relationships
Transparency and Mutual Support
- Agencies benefit from understanding their work within the broader brand system.
- Brands gain from transparent conversations around results, fostering resilient and adaptive partnerships.
Creative Effectiveness in a Modern Landscape
- Science and data have transformed creative effectiveness, making it measurable and actionable.
- Bold choices and calculated risks, supported by strong partnerships, yield better outcomes.
Conclusion: A Joint Mission for Effectiveness
Brands and agencies must collaborate to create a culture of marketing effectiveness. By aligning goals, fostering transparency, and embracing bold strategies, they can navigate challenges and unlock sustained success.
Latest News