Last week I attended Brand Innovators Media & Marketing Innovation Summit hosted by GroupM in their lovely office downtown. There were *so* many great takeaways, I wish I could share them all, but here are my top 3:
1. Diversity isn't just the right thing to do - it's good for business
✨ As we just saw with the women's NCAA tournament, ad revenue doubled YOY, and we've just scratched the surface of Women's Sports
✨ The NFL is committed to diversity and inclusion in all aspects of the business, but also to growing their fan base, and as Jonathan Beane noted, diverse groups are the way to do that - youth, Latinx, women, international markets
(for those that really know me, yes, the NFL panel was amongst my favorites of the day 🤓)
2. We need to rethink the media funnel and look at our media spend holistically
✨ It takes 9 touchpoints before consumers make a purchase, therefore, focusing solely on lower funnel metrics and not investing properly in upper funnel will not get you where you want to go long-term (traffic KPIs shouldn't be - stick with revenue over time); exercise patience and stay focused when adopting an adjusted funnel spend - it's going to be uncomfortable, but stay the course
✨ Big ideas (AKA Glitter Ideas - thanks Ashley Schapiro - love this!) need to be constantly front of mind, but also invested in (thanks to looking at your media spend holistically, you'll have more to spend on brand awareness than you use to 😉)
3. Old standbys of marketing are still the way forward (but not the way you're thinking)
✨ Meet people where they are - leverage data and insights as much as possible, and share content that *speak* to potential customers; let the audience dictate the platform - not the other way around
✨ Think outside the box - Jessica Padula shared how Nespresso, a luxury lifestyle brand, ventured into the gaming world with the launch of their single serve coffee maker, which may seem confusing on the surface, but actually worked well and makes perfect sense if you think of who they are targeting and what a gaming setup/lifestyle needs (this was such a cool campaign!)
✨ Leverage technology to work *for* you - dun dun dun...AI! Many of us (myself included) are concerned about what AI will do to the future of our world and our careers, but Kelly Garland Schwarte offered a different perspective: could AI make our jobs easier, so that we can spend more time doing the most human part of our jobs - being creative? And could we leverage AI as a useful tool to actually make our ideas more captivating and memorable? Kelly also shrewdly reminded us that every time a new technology comes to be, it is in our nature to worry about that technology and our role if it sticks around. So many good points were made, it's making me reevaluate my POV on AI. 🙌
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