One of the most powerful insights from cognitive science is the System 1/System 2 dichotomy, coined by Stanovich and West as shorthand for two types of thinking - one fast, resource-efficient and automatic (System 1); the other slow, deliberative and effortful (System 2) . Many in marketing and MR now accept that, because consumer decision making is dominated by System 1, many of our buying decisions are fast, flawed and emotional, rather than slow, logical and consistent. So far so good, but I’m worried that a sheep-like acceptance that System 1 is somehow ‘good’ for marketing, whereas; System2 is ‘bad’ might lead us to into some ‘woolly’ thinking about how to measure consumer response.
There’s a couple of views (I’ve recently heard expressed at conferences) that I’d like to challenge:
1. System 1 is about the unconscious and therefore only unconscious measures are valid
Two guys in New York have created a programme they say will end ad fraud for good. And it's a real shame. Ad fraud was forcing the industry to re-examine how it measures online advertising. But if this tool works, it may not have to. The software's called Submit Guard and it can tell the difference between humans and internet bots with over 99% accuracy. Internet bots are responsible for fake clicks and views expected to cost the industry $6.3 billion this year.
The creators Eric Weissman and Jose Cotto told Business Insider: "Robots and humans interact with the web in drastically different ways. Robots scroll quickly and make herky-jerky mouse movements – we're able to detect all of that instantly and raise a red flag."
If it works, the software could restore faith in ad reporting again. And that's the problem. It'll be business as usual measuring clicks and views. Last year Tony Haile, CEO of Chartbeat, published research proving how overvalued the click really is: "The more page views a site gets, the more people are reading, the more successful the site. Or so we thought…" Chartbeat analysed the user behaviour of 2 billion visits across the web and found that most people who click, don't read. More than half (55%) spend fewer than 15 seconds on the page they clicked through to.
The CASSIES (Canadian Advertising Success Stories) were published on warc.com last week. These awards recognise and reward the business effectiveness of advertising. There were 53 case studies in total, which Warc subscribers can view here.
But if you’ve only got time to read a few I highly recommend the following. Grassroots activism, user-generated strategies, newspaper partnerships and storytelling are just some of the themes explored.
A couple of weeks ago I discussed how partnerships can be a powerful strategy in a marketer’s toolkit. This week I’m putting the spotlight on occasion marketing.
Major sporting events such as the FIFA World Cup and the Olympic Games are an obvious opportunity for brands to make the most of special occasions. But today, the ever-increasing number of events, awareness days, niche interest days, religious and music festivals, provide brands with more opportunities to engage with consumers in new and interesting ways. By optimising on occasions smart brands can engage with consumers on a variety of levels - through emotion, humour, passion or patriotism, for example. Here are a selection of occasion marketing campaigns that stood out for me in 2014:
The DBA Awards were published on warc.com earlier this month. These awards recognise design projects that are creatively and commercially effective. There are 63 case studies in total, which Warc subscribers can view here. I've dug deep to showcase a handful of campaigns that I think deserve a special mention.
Vivid: Think Vivid!
How did Vivid, a brand of matcha green tea, successfully enter the highly competitive market of grab and go health-focused drinks in the UK? Aimed at young professionals and keen coffee drinkers Vivid was positioned as a lifestyle brand with personality. The design communicated the benefits of matcha - energy, clarity and mental focus. Clever positioning and a clear target audience helped Vivid achieve £0 to an estimated £600K retail sales value in its first year of trading and helped the brand get listed in a broad range of the biggest healthy living retailers.
Tomorrow marks the start of Chinese New Year (CNY) celebrations when people all over Asia, and Chinese communities throughout the world, will be welcoming in the year of the sheep/goat. CNY is considered an auspicious occasion - a time to celebrate with family and friends, a time of giving and wishing prosperity to others. It is perhaps the most important event in the Chinese calendar.
It is also a time when brands are most eager to speak to their Asian target audience. This creates a highly competitive and highly cluttered advertising environment which means brands must do something extra special if they are to stand out from the noisy crowd. Smart brands use the New Year festivities to recognise and appreciate Chinese culture and traditions. So which brands are succeeding in this space?
HSBC Australia used Chinese New Year to target Asian consumers in Australia and to reinforce the message that HSBC is a trustworthy bank. The brand affirmed its valued association with the Chinese community through a fully integrated campaign that featured e-DM and sponsorship of New Year festivals. HSBC also said ‘thank-you’ to its customers with a culturally relevant gift – a form of 'guanxi' – which would resonate with the target audience. This achieved a 463% YOY growth in term deposits, eclipsing the campaign target by 290%.
This post is by Stephan Loerk, managing director of the World Federation of Advertisers.
Every New Year comes with three things attached: new trends and projects, a continuation of the same and the odd surprise.
2015 will be no different. We will all still have to deal with the economic uncertainty that has bedeviled us since 2008.
My conversations with marketers indicate that the prognosis is more bullish in the US, but also that the slowdown of high-growth markets such as Brazil and China and geopolitical uncertainties are taking a toll on overall levels of confidence.
Continental Europe, in particular, remains mired in uncertainty as the Eurozone continues its efforts to kick start growth.
This post was originally featured on Search Engine Watch.
With less than a week to go until SES London, this Q&A with Thomson Reuters' head of programmatic Emily Palmer will give you a peak at what's in store at the conference and what she has to say about real-time bidding and programmatic buying.
Search Engine Watch (SEW): Your session at SES London focuses on real-time bidding (RTB) and programmatic buying. In your opinion, how are businesses adapting to this kind of technique and is there much education to be had?
Emily Palmer (EP): There are a lot of companies playing catch-up on the basics, while most long-active programmatic buyers and sellers know there is more they can do in terms of ad formats and data. Ongoing education and dialogue with industry peers is essential, otherwise you don't know what you don't know.
As Warc’s Knowledge Officer I’ve observed some notable trends that stood out in the marcomms industry in 2014 and that will continue to play an important role in brand communications in 2015. I’ll be publishing a series of blogs covering these hot topics over the next few weeks. The first looks at powerful partnerships.
Partnerships are hot! The right collaboration can have a powerful effect on marketing strategy. Aligning with experts can enhance a brand's credibility; the right collaboration can expose a brand to new audiences; what's more, a clever partnership can support that all-important shopper-marketing strategy.
I've dug deep into the Warc archive to showcase a selection of case studies from 2014 that have implemented such strategies to great effect.
UK advertising expenditure is forecast to total £19.6bn in 2015, according to the latest data from the Advertising Association/Warc Expenditure Report, released this week. This is comfortably the largest total ever recorded, and represents a 5.7% annual increase from 2014. Receipts for 2014 are expected to total approximately £18.5bn, following growth of 5.8% from 2013. These rises also represent the best consecutive growth period since the millennium.
The largest medium for adspend – since surpassing TV in 2011 – is internet, with pure play digital revenues of £7.0bn forecast this year. The pure play figure excludes digital revenues from magazines and newsbrands as well as those from broadcaster VoD, however it does include mobile revenues, which have risen significantly over the last five years.
In 2015, one in every three pounds spent on internet advertising will be specifically for mobile, up from 1/20 in 2011. Furthermore, annual mobile display and search revenues are each expected to surpass £1bn for the first time this year.