Mind It team participated in the Festival of Marketing, the largest global event dedicated to brand marketers. 12 stages of content, 250+ insightful speakers, amazing headliners and challenging solutions made this experience unforgettable.
This 2-days event reflects the very nature of marketing – inspiration and practical application. Some takeaways from the Festival of Marketing 2019:
Purpose does matter
Everything starts with the brand purpose that exists beyond making money. Otherwise, “Shit that arrives at the speed of light is still shit” (David Abbott, AMV BBDO). Mark Ritson, commentator and former marketing professor, who presented outcomes of the research, which analyzed number of Effie Awards, the Gold Standard in Marketing Communications Effectiveness, recommends companies to focus more on the importance of brand distinctiveness than on products’ differentiation. Sometimes marketers forget that their mission is to ensure instant recognizability of their brands. Another recommendation was to develop marketing strategy that combines short-term commercial targets and long-term investment in brand marketing, even when benefits from the latter are not immediately visible.
Many marketers have great marketing skills, but this is only one side of the coin. On the other hand, they should become experts in marketing leadership. According to Thomas Barta, one of the foremost writers on the subject of marketing leadership, only 44% of marketers were satisfied with their career path. He also mentioned that marketers’ reputation with CEOs is mixed and measuring marketing success is about maximizing the overlap between needs of your customers and company – so called “Value Creation Zone”.
Decoding your brain
We are delighted to mention – neuro is already in London. In highly competitive environment, companies need to think differently for delivering a hyper-personalized content. Neuroscience helps to unlock human emotions. Daniel Kahneman stated, “Thinking is to humans as swimming is to cats; they can do it, but they’d prefer not to”. It is better to feel once and think twice. The way to the brain of your customers goes through emotional stories, simplicity, movement and authenticity. Our brain disengages when a product does not look real. Number of speakers were talking about humanity and its crucial role in marketing. Nowadays, consumers want to converse with brands, not to be spoken to by them.