Dripped Digest #30: Marketing misalignment

While I was away, I could spent 12 euros per one coffee cup.? Sometimes you can spend that much on something you value highly, especially for the short-term pleasures, as my last report said:

But at some point, we all return to our daily lives with struggles and hopes. ??

Just as marketers that are more optimistic about advertising spend amidst economic uncertainty.

The goal of long-term success is a clear reflection of the recession fears that loomed large in 2023.

尼尔森 has just published its Annual Marketing Report, based on a survey of 1514 marketers from around the world. ??

And one of the interesting things to watch out now is Marketing misalignment.

Many have long-term ROI and full funnel ROI goals, but the shift to performance marketing combined with some of their media buying plans won’t fully support those goals.??

70% of marketers say they are likely to use more performance marketing in their media strategies in 2024.

And the breakdown of marketing spend is:

Let’s go further in details…

?? Considering that I am committed to branding, distinctiveness and differentiation, for instance:

So this Marketing misalignment is quite interesting. The focus is clearly on performance, but in the plans is to somehow make it long term, there’s also a notion of holistic marketing.

This holistic side of things appeared in contrast to conversion-focused marketing, which is not a panacea: ot only gives you quick sales and quantitative data to work with. ??

But it doesnt do much to attract new customers, and you could simply be trapped in your brand erosion by optimizing this and that, if not brand erosion because your focus is on performance. ??

While the trend for short term gains is here, the inverse is also true: investing in brand-building marketing can drive revenue growth.

Brand building is more than just a long-term revenue generator.??

It also reduces the cost of acquiring new customers. This is because short-term marketing strategies trade future sales for short-term sales that are actually more costly to obtain.

Ultimately, no one can avoid investing in branding. And if you let your brand go to waste, future sales will fall 1:1, Nielsen promises. ??

This is the kind of ROI-minded intel you need when presenting plans to those who have ultimate say in budgets.

But how to determine the right mix?

1. Measure both KPIs, then plan and optimize a budget that drives both.
2. Before deprioritizing a poorperforming channel, measure its performance for the second objective to ensure you’re not underutilizing a channel that is critical for the other objective.
3. For channels that perform poorly on the chosen objective, determine if optimizations in execution could make the channels perform on par with the rest of the plan.