From a snapshot to a movie - Pushing the boundaries of marketing ROI
Vanguard Strategy, United States
Marketing Strategy & Insights, The Coca-Cola Company, United States
Infotools, New Zealand
No firm that owns a strong leading brand would base its vision on its history. While firms should learn from the past, their ability to stay competitive often resides in their ambition to foresee and shape the future.
The marketers behind these brands will look into consumer data to spot new trends and craft possible futures, and they are likely to be less concerned with gaining a detailed understanding of the past. Their decision making process relies on a delicate balance of art and science: their vision and strategy being based on raw marketing talent and supported by deep consumer and shopper insights.
Yet, virtually all the available data from brand tracking studies is grounded in the past. True, with the advent of social media and new advanced technical solutions, companies have more real time information on consumer preferences, but the information tends to be mainly qualitative, with often incomplete or unreliable demographic information, making it harder to support marketing investment decisions.